Thaw out with McDermott’s Tax and Private Client teams during our first (of many) Boston Private Client Roundtables where attendees can reconnect with peers in the tax, private client and wealth advisory space in the city. We...more
CROSS-PRACTICE TEAM RECOVERS $6 MILLION FROM BITCOIN THIEF IN SHORT ORDER -
The Challenge:
In the emerging cryptocurrency space, most investors store their assets in digital wallets, where—unlike traditional bank...more
12/16/2021
/ Bitcoin ,
Chapter 11 ,
Clean Energy ,
Competition ,
Corporate Crimes ,
Cryptocurrency ,
Cybersecurity ,
Department of Justice (DOJ) ,
EU ,
Green New Deal ,
Investors ,
NIST ,
Ransomware ,
Renewable Energy ,
Taxation ,
Trading Platforms ,
White Collar Crimes
After more than two months of negotiations in the US Congress, a slimmed-down version of the “Build Back Better Act” narrowly passed the US House of Representatives on November 19, 2021. All but one House Democrat voted for...more
The $3.5 trillion “Build Back Better” reconciliation spending program is currently working its way through the US Congress. On September 13, 2021, the US House of Representatives Committee on Ways and Means published its set...more
Join McDermott partners Ellen Harrison and Carlyn McCaffrey as they review legislative proposals to increase taxes on transfers of wealth and impose a wealth tax. The panel will also provide insights on what you can do now to...more
Join McDermott presenters Timothy Halleron, Richard Lang and Carlyn McCaffrey as they describe six not-so-obvious planning ideas. In certain situations these creative planning techniques may be more effective than the usual...more
In Notice 2020-23, the Internal Revenue Service further expanded relief for taxpayers in response to the Coronavirus (COVID-19) pandemic. Individuals, corporations, trusts, estates and other taxpayers that ordinarily would...more
The Internal Revenue Service released a Q&A on Notice 2020-18 to clarify the relief available to taxpayers during the Coronavirus (COVID-19) pandemic. The Q&A offers important new details on the federal income tax filing and...more
3/28/2020
/ Controlled Foreign Corporations ,
Coronavirus/COVID-19 ,
Corporate Taxes ,
Employee Contributions ,
Estate Tax ,
Filing Deadlines ,
Gift Tax ,
Income Taxes ,
Installment Agreements ,
IRS ,
Relief Measures ,
Shareholders ,
Tax Returns ,
Time Extensions
On March 20, 2020, the Internal Revenue Service expanded its relief for taxpayers in light of the Coronavirus (COVID-19) pandemic. All federal income tax payments and federal income tax returns that were due April 15, 2020,...more
On March 13, President Trump issued an emergency declaration that directed Secretary Mnuchin to provide appropriate relief from tax payment deadlines to Americans who have been adversely affected by the COVID-19 pandemic. We...more
The unique needs of ultra-high net worth families, their family office representatives and other advisers are multidimensional and ever-evolving. Join us November 21 for McDermott Will & Emery’s Private Client East Coast...more
10/22/2019
/ Aircraft ,
Aircraft Financing ,
Client Services ,
Confidential Information ,
Estate Planning ,
Events ,
Family Businesses ,
Foreign Investment ,
High Net-Worth ,
Inbound Investments ,
Investment Management ,
Outbound Transactions ,
Tax Audits ,
Tax Cuts and Jobs Act ,
Tax Liability ,
Tax Planning ,
Trust Funds ,
Wealth Management
Last week, the US Supreme Court ruled that North Carolina may not tax a trust’s income when the trust’s only contact with the state is the in-state residence of discretionary beneficiaries. The Due Process Clause requires a...more
6/27/2019
/ Beneficiaries ,
Due Process ,
Estate Tax ,
Exclusive Control ,
Forum State ,
In-State Beneficiaries ,
Income Taxes ,
Minimum Contacts ,
North Carolina Department of Revenue v The Kimberley Rice Kaestner 1992 Family Trust ,
SCOTUS ,
State Taxes ,
Trust Distributions ,
Trustees ,
Trusts
In Depth -
Under current law, individuals and trusts may claim itemized deductions for certain miscellaneous expenses. Deductible miscellaneous itemized expenses include amounts paid for the production of income and for...more
The Trump Administration, the House Committee on Ways and Means and the Senate Committee on Finance released their Unified Framework (Framework) for Tax Reform on September 28. There were few surprises and fewer details...more
Tax reform is one of the central components of Donald Trump’s platform, and in many respects, his goals for tax reform are aligned with those described in the Tax Reform Task Force report issued by the House Republicans last...more
In Depth -
On August 2, 2016, the US Department of the Treasury issued long-awaited, proposed regulations on the valuation of interests in family-controlled entities for estate, gift and generation-skipping tax purposes....more
The revenue portion of the recently passed Executive Budget for 2014–2015 significantly changes New York’s estate tax and the way in which New York taxes the income of certain trusts.
...more