On December 2, 2013, the United States Tax Court issued an opinion in Crescent Holdings, LLC v. Commissioner, 141 T.C. No. 15. This opinion affects individuals who receive a non-vested capital interest in a partnership.
Tax Troubles: A recent LA Times article has highlighted the problems that victims of Ponzi schemes face from the tax authorities after the collapse of a fraudulent business.
Court Ordered Sanctions Against an Attorney Are Not Deductible Under Section 162 As Ordinary and Necessary Business Expenses
On December 17, 2013, the US Tax Court issued its opinion in Chaganti v. Commissioner, TC Memo 2013-285.
Swiss Federal Court Holds Switzerland’s “IRS” Had Impermissibly Granted Requested Client Data from Julius Baer Private Banking Group
A Swiss Federal Court held on January 6, 2014, that the Federal Tax Administration of Switzerland had unlawfully agreed to turn over client data to the United States of clients of the Julius Baer private banking branch.
ERISA: Court Disregards Three Decades of IRS Letter Rulings – “Church Plan” Exemption Applies Only if Plan Established by “Church”
You already know that a “church plan” is exempt from ERISA, unless the Plan specifically elects to be governed by ERISA under Internal Revenue Code Section 410(d).
Recent amendments to the UK tax regime have resulted in as many as 60 multinational companies looking to complete global and regional headquarter relocations into the UK in the next 18 months, according to Ernst & Young (November 2013).
New York State Department of Taxation and Finance Provides Guidance Regarding the Minimum Wage Reimbursement Credit
On December 30, 2013, the New York State Department of Taxation and Finance issued a Technical Memorandum providing guidance on a new tax incentive for employers who employ students in New York and pay them the state minimum wage rate.
Eminent Domain. Condemnation. Taking. Whatever you call it, the acquisition of private property for public purposes by the government, or its agencies, is a highly controversial action.
I recently sat down with Texas State Representative Van Taylor (R-Dist. 66) to discuss House Bill 2488, a bill that he introduced last April in the regular session of the 83rd Legislature.
The fiscal cliff drama heading into the start of 2013 fortunately was not repeated as the calendar turned to 2014.