In the third part of a four part series on qui tam suits, Jennifer Carr of Tax Analysts interviewed University of California, Davis School of Law tax professor Dennis J. Ventry, Jr. about his article, “Not Just Whistling Dixie: The Case for Tax Whistleblowers in the States.”
Final Regulations Provide Partnership Technical Terminations Have No Impact On Unamortized Organization and Start-Up Costs
The IRS issued final regulations confirming that a technical termination of a partnership does not accelerate unamortized start up or organizational costs under Sections 195 and 709.
Senator Chuck Levun (D-Mich) Renews His Efforts to Attack “Basket Options” Used by Hedge Funds: “Hiding Behind the Large Partnership Audit Rules”
As recently reported by the tax press, a Senate panel recommended on July 21 that the IRS step up its enforcement of the structured financial product referred to as “basket options” and related strategies, penalize banks that facilitate such tax avoidance, and revamp the rules governing large partnership audits.
2014 Multistate Tax Road Trip – New Jersey Budget May Create Tax Traffic Headaches for Multistate Taxpayers
New Jersey’s Fiscal 2015 Budget, signed by Governor Chris Christie on June 30, 2014, includes Assembly Bill 3486 which contains tax provisions that may increase multistate taxpayers’ New Jersey income taxes.
Monday Morning Regulatory Review: IRS Tax Preparer Suits; Hobby Lobby FAQ; Obamacare in the Territories; Drone Dismissal; And an Upgrade
Among its woes, the Internal Revenue Service (IRS) lost another regulatory case for exceeding its statutory authority last week, and was sued yet again.
Californians who have owned their properties for years understand the benefits of Proposition 13: their property taxes are based upon the property’s purchase price (with only small allowable annual increases), as opposed to the property’s current value.
Distribution of audiovisual content is blooming at a very fast pace, and while the consumer is still demanding for more new content, producers are struggling with this new competitive era.
With many states continuing to use tax credits to seed entrepreneurial growth, entrepreneurs and legal counsel must understand the applicable state-sponsored programs and position qualifying businesses to take advantage of these programs.
According to recent reports, foreign investment in commercial U.S. real estate exceeded $38.7 billion in 2013 - a 40 percent increase over 2012.