There are no adverse consequences, other than transaction costs, to engaging in tax planning before immigrating to the United States. However, there may be significant adverse tax consequences if you fail to engage in any tax...more
There are no adverse consequences, other than transaction costs, to engaging in tax planning before immigrating to the United States. However, there may be significant adverse tax consequences if you fail to engage in any tax...more
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provides relief to taxpayers affected by COVID-19. The CARES Act is the third round of federal...more
Not-for-profit organizations have not escaped the brutal toll that the coronavirus outbreak is having on employers and service providers. With an increased demand for social services, educational organizations providing...more
4/17/2020
/ 501(c)(3) ,
CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Sick Leave ,
Sick Pay ,
Tax Credits
April 9, 2020: The Treasury Department and the Internal Revenue Service issued Notice 2020-23, which amplified Notice 2020-18 and Notice 2020-20 and modified Rev. Proc. 2014-42 with respect to calendar year 2020, and provided...more
For years, Code § 1031 has been a popular way to defer taxation on the sale of capital gain assets. However, Code § 1031 has significant requirements, including complex timing and identification requirements and a requirement...more
1/31/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
IRS ,
Opportunity Zones ,
Real Estate Development ,
Real Estate Investments ,
Section 1031 Exchange ,
Tax Cuts and Jobs Act ,
Tax Deferral
The December 2017 tax legislation commonly referred to as the Tax Cuts and Jobs Act (the Act) provides significant tax incentives for taxpayers to invest in certain low-income communities designated as Qualified Opportunity...more
1/31/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
Investment Opportunities ,
IRS ,
Opportunity Zones ,
Proposed Regulation ,
Real Estate Development ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Incentives
The IRS issued Notice 2019-09, which provides interim guidance in a fairly lengthy Q&A format relating to Code Section 4960, enacted on December 22, 2017....more
1/4/2019
/ Compensation & Benefits ,
Covered Employees ,
Excise Tax ,
Exempt Organizations ,
Income Taxes ,
Interim Guidance ,
Internal Revenue Code (IRC) ,
IRS ,
Public Comment ,
Remuneration ,
Tax Liability ,
Tax Reform
Tax exempt organizations often enter into relationships with other organizations that are collaborative in nature rather than merely quid pro quo. These relationships are frequently referred to as “partnerships” by tax exempt...more
Amendments to the Florida Revised Limited Liability Company Act go into effect on July 1, 2015. It governs all limited liability companies in the state of Florida. Effective July 1, 2015, the Act was amended, in part, to...more