David Goett

David Goett

Morrison & Foerster LLP

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Recently Issued Final, Temporary and Proposed Treasury Regulations Regarding the Allocation of Partnership Liabilities and...

On October 5, 2016, the Internal Revenue Service (“IRS”) and Treasury Department published final regulations (the "Final Regulations"), temporary regulations (the "Temporary Regulations") and new proposed regulations (the...more

10/25/2016 - Business Taxes Debt Financing Disguised Sales IRS New Regulations Partnership Agreements Partnership Liabilities Partnerships Proposed Regulation Risk Allocation U.S. Treasury

IRS Issues Final Debt-Equity Regulations

On October 13th, the Internal Revenue Service (“IRS”) followed through on its promise to issue final regulations and temporary regulations under Section1 385 (the “Final Regulations” and “Temporary Regulations,” respectively)...more

10/24/2016 - Credit Agreements Creditors Debt Instruments Debt-Equity Debtor-Creditor Disregarded Entities Enforcement Expanded Group Instruments (EGIs) IRS Proposed Regulation Rebuttable Presumptions

MoFo Tax Talk - Volume 9, No. 3

IRS Issues Proposed Regs on RIC Commodity Investments - On September 27, 2016, the IRS issued proposed regulations (the “Proposed Regulations”) providing guidance relating to the income test and asset diversification...more

10/13/2016 - Capital Gains CFCs Corporate Taxes Donald Trump Estate Tax Hillary Clinton Income Taxes IRS Marital Status PFIC Political Candidates Presidential Elections Proposed Regulation Registered Investment Companies (RICs) REIT TEFRA

MoFo Tax Talk - Volume 9, No. 2

Editor's Note - Welcome to Tax Talk 9.02. By this fall, we may look back on Q2 2016 with some nostalgia. Of course, there is the U.S. presidential election on November 8th, but U.S. tax advisors right now are more...more

8/8/2016 - Business Partners Disregarded Entities Grantor Trusts Insolvency Intermediary Agreements Internal Revenue Code (IRC) IRS Money Market Funds Partnerships REIT Safe Harbors SEC Self-Employment Tax Tax Reform

MoFo Tax Talk - Volume 9, No. 1

IRS Publishes Proposed section 305(c) Regulations - On April 12th, the IRS published proposed regulations under Section 305(c) that address the treatment of deemed dividends to holders of stock and rights to acquire...more

5/9/2016 - Bad Boy Liability Bona Fide Purchaser Commodities Derivatives Diversity Jurisdiction Federal Taxes Investors IRS Political Candidates Presidential Elections REIT SCOTUS Student Loans

Proposed IRS Debt-Equity Regulations: Aimed at PostInversion “Earnings Stripping,” But May Also Impact Ordinary Related-Party Debt

On April 4th, the Internal Revenue Service (“IRS”) issued proposed regulations (the “Proposed Regulations”) under Section 385 which could dramatically change how related-party indebtedness is treated for federal income tax...more

4/13/2016 - Equity Financing Inversion IRS Proposed Regulation Related Parties U.S. Treasury

MoFo Tax Talk - Volume 8, No. 4

IRS PROVIDES RICS ALTERNATIVES TO ACCOUNT FOR FOREIGN TAX REFUNDS - Generally, when a U.S. taxpayer pays foreign tax, the U.S. taxpayer is entitled to take a credit (a “Foreign Tax Credit”) against the taxpayer’s U.S....more

2/3/2016 - Certiorari ConAgra Dividends FIRPTA Foreign Currency Income Taxes IRS Market Basket Political Candidates Protecting Americans from Tax Hikes (PATH) Act REIT RICs SCOTUS Tax Court Tax Refunds Withholding Tax

Final and Temporary Dividend Equivalent Regulations Issued – Some Good, Some Bad, and Some Ugly

On September 17, 2015, the Internal Revenue Service (“IRS”) released final and temporary regulations under Section 871(m), the Internal Revenue Code provision that treats “dividend equivalents” paid under certain contracts as...more

9/22/2015 - Brokers Dividends Final Rules Hedges Internal Revenue Code (IRC) IRS Partnerships Withholding Tax

MoFo Tax Talk - Volume 8, Issue 2

IRS Releases Notices Designating Certain “Basket Contracts” As Listed Transactions And Others As Reportable Transactions Of Interest - On Wednesday, July 8, the IRS released two notices addressing “basket contracts,”...more

8/7/2015 - De Minimus Quantity Exemption Derivatives Dodd-Frank Excise Tax FATCA IRS Life Insurance Partnerships Retrocession Contracts Senate Finance Committee Tax Court Tax Reform U.S. Treasury

The Best of a Bad Investment

A recent tax case out of the Fifth Circuit approved a taxpayer’s strategy to make the best of a bad investment. According to the facts of Pilgrim’s Pride v Commissioner, the taxpayer purchased preferred stock from two...more

5/8/2015 - Abandonment Income Taxes Investment Tax Credits IRS Stocks

MoFo Tax Talk Volume 8, Issue 1

In This Issue: - IRS Rules Debentures Are Part of Straddle; Interest Non-Deductible - Stock Abandonment Produces Ordinary Loss - Tax Consequences of Negative Interest Rates - Renewed Discussion of a...more

5/8/2015 - Corporate Taxes Debentures IRS Stocks

Morrison & Foerster Quarterly News Tax Talk - Volume 7, No.4 January 2015

In This Issue: - Congress Passes Year-End Tax Extenders Bill - House Adopts New “Dynamic Scoring” Rule - Foreign Fund Engaged in Lending and Stock Distribution Not Protected by “Trading in Stock or Securities”...more

2/20/2015 - Dividends Federal Taxes LLC REIT Safe Harbors Section 956

Tax Talk -- Volume 7, No. 3 -- November 2014

In This Issue: - IRS Clarifies Deadline for Correcting Withholding Documentation - Consent Payment Modifying Contingent Payment Debt Instrument Must be Tested for Significance - IRS Concludes Correction of Error...more

11/10/2014 - Commercial Bankruptcy Domestic Partnership Foreign Corporations Internal Revenue Code (IRC) IRS Legal Entities Transfer of Assets Withholding Requirements

Tax Talk -- Volume 7, No. 2 -- July 2014

In This Issue: - As FATCA Begins, IRS Rolls out Withholding Forms, Increases IGA Count - IRS Issues Final Circular 230 Rules Simplifying Written Tax Advice Requirements - Mortgage CCA Raises More...more

7/30/2014 - Accounting Banks Bitcoin FATCA FBAR Fees Intergovernmental Agreements IRS Merchant Fees Mortgages OVDP Proposed Regulation REIT Reporting Requirements Section 956 Securities Stock Options Tax Advice U.S. Treasury

Tax Talk -- Volume 7, No. 1 -- April 2014

In This Issue: - FATCA Update: IRS Releases New Regulations, New Forms, and New IGAs - No Rule Policy on MLPs - IRS Introduces New Grandfather Rule for Equity-Linked Instruments Under Section 871(m) - Rev....more

4/18/2014 - FATCA IGAs IRS MLPs Mortgage REITS REIT Safe Harbors

MoFo New York Tax Insights - Volume 6, No. 4 - January 2014

In This Issue: FATCA Developments: Treasury Signs IGAs; IRS Finalizes FFI Agreement; IRS Releases Final and New Proposed “Dividend Equivalent” Regs; IRS Issues Final Swap Assignment Regs; IRS Issues Final “Net...more

1/27/2014 - Capital Gains Capital Losses Dividends FFI IGAs Income Taxes IRS Net Investment Income REIT Stocks

IRS Releases Final and New Proposed Regulations That Define “Dividend Equivalent” for U.S. Withholding Tax Purposes

On December 5, 2013, the Internal Revenue Service (“IRS”) finalized temporary regulations and issued new proposed regulations under Section 871(m), the Internal Revenue Code provision that treats “dividend equivalents” paid...more

12/16/2013 - Dividends Income Taxes IRS Withholding Tax

Tax Talk -- Volume 6, No. 3 -- October 2013

In This Issue: A Primer on the Medical Device Excise Tax; FATCA Registration Begins; In re Downey Financial Corp. (U.S. Bankr. Court Dist. of Delaware 10/8/2013); In re NetBank (11th Cir. 9/10/2013); and In re...more

10/29/2013 - Affordable Care Act Excise Tax FATCA FDA IRS Medical Devices

FATCA Registration Begins

On August 19, 2013, the Internal Revenue Service (“IRS”) announced the opening of the Foreign Account Tax Compliance Act (“FATCA”) registration website (the “Portal”). The Portal, which was originally slated to open July 15,...more

8/22/2013 - FATCA IRS Registration Websites

Tax Talk -- Volume 6, No. 2 -- July 2013

In This Issue: IRS Leaves Potential REIT Conversions Hanging; IRS Proposes to Relax Wash Sale Rules for Floating NAV Money Market Fund Share Redemptions; IRS Confirms Mexican Land Trust Is Not Trust Under U.S. Tax Law;...more

7/23/2013 - Consumer Bankruptcy Conversion FATCA IGAs Income Taxes IRS Money Market Funds NAV REIT S-Corporation SEC Wash Sale Rules Wash Trades

IRS Delays FATCA Implementation

On July 12, 2013, the IRS released Notice 2013-43 (the “Notice”), which sets forth a revised timeline for the implementation of the Foreign Account Tax Compliance Act (“FATCA”). The most significant development is that...more

7/15/2013 - Delays FATCA Grandfathered Obligations IRS

Tax Talk -- Volume 6, No. 1 -- April 2013

In This Issue: House Ways & Means Committee Proposal Would Require Mark-to-Market for Derivatives and Modify Certain Other Tax Rules; After Months of Anticipation, Final FATCA Regulations Released; Congress Considers...more

4/30/2013 - Affiliates Credit Default Swaps Derivatives Equity Claims FATCA Financial Transaction Tax Forms Mark-To-Market Reorganizations

A European Financial Transaction Tax

In September 2011, the European Commission initially proposed that a financial transaction tax (“FTT”) be implemented by all 27 EU Member States, although it soon became clear that a significant proportion of the Member...more

3/18/2013 - EU European Commission Financial Transaction Tax Proposed Legislation

Moving from the Academic to the Legislative: House Ways & Means Committee Proposal Would Require Mark-to-Market for Derivatives...

BACKGROUND - For many years, academics have proposed that the U.S. replace the current hodge-podge U.S. federal income tax rules applicable to financial derivatives with a “mark-to-market” regime. In the first...more

2/20/2013 - Capital Gains Derivatives Hedging Income Taxes

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