Roger Arnold Says The Worst is Behind Us in Greece
Can My Creditors Put me In Jail?
20 Things a Debt Collector Can't Do
5 Reasons Consumers Should File an FDCPA Lawsuit
Why You Should Enter into a Payment Plan with a Junk Debt Buyer
Beginners Guide to Debt Collection Lawsuits by Portfolio Recovery Associates
Quick Guide to Stopping Collection Calls.
3 Proven Strategies to Get the Lowest Debt Settlement Possible
3 Proven Strategies for Dealing with a Midland Funding Lawsuit
If I won my case, why do I need to worry about an appeal?
BigLaw Recruiter: We Didn't Kill Dewey & LeBoeuf
What are the steps of an appeal?
Polsinelli Podcasts: Out-of-Court Alternatives to Bankruptcy
Polsinelli Podcasts - Supreme Court Closes Gap on Bankruptcy Issue
A Conversation with John Houghton on Asia Restructurings
Bennett Jones Spring 2014 Economic Outlook
Select Bankruptcy Issues for General Counsel – Part One
Not Dead Yet? How BigLaw's Best Firms Are Finding Growth
Update on Section 363 of the Bankruptcy Code and Delaware Bankruptcy Court’s Decision in the Fisker Automotive Holdings Inc. Bankruptcy Case
Polsinelli Podcast - Claims Trading: Opportunity or Hazard?
On May 5, 2015, the Internal Revenue Service (IRS) issued two long-awaited rulings, Rev. Rul. 2015-09 and Rev. Rul. 2015-10, that should ease the lives of corporate tax planners. Each ruling addressed an increasingly common...more
By declaring a controversial ruling obsolete, the IRS removes uncertainty surrounding the tax effects of certain corporate restructuring techniques.
A pair of revenue rulings the US Internal Revenue Service (IRS)...more
Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects...more
In a new Action on Decision (AOD 2015-10), the IRS stated that it will not follow the Tax Court’s 2004 Martinez decision, which had allowed a general partner to exclude cancellation of debt (COD) income from a partnership in...more
In This Issue:
- Minority Holders Gain Leverage Through Recent Interpretation of Trust Indenture Act
- New Jersey Joins Number of States Creating Specialty Business Courts
- Credit Bid Rights Bolstered in...more
Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more
A recent decision in the ongoing bankruptcy proceedings for Chrysler has reinforced the authority of a bankruptcy court to interpret its own sale orders, and where appropriate, to enforce such an order by preventing creditors...more
Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects. ...more
The Tax Court of Canada recently confirmed in International Hi-Tech Industries Inc v The Queen, 2014 TCC 198, that in certain circumstances a secured creditor can commence or continue a tax appeal on behalf of a bankrupt...more
Shareholders of financially troubled S corporations may now be able to avoid the flow-through of taxes when the S corporation or its subsidiary files bankruptcy. ...more
The federal bank regulators recently issued additional guidance on intercompany income tax allocation agreements between holding companies and their depository institution subsidiaries. Intended to clarify the ownership of...more
Can a foreign person exclude foreign-situs assets in determining insolvency exception to cancellation of indebtedness income?
With the worldwide global default rate on corporate debt continuing to rise, a taxpayer’s...more
Effective July 1, 2013, Connecticut passed a new law providing that the state must refuse to issue or renew a sales tax permit to any person or entity that owes taxes to the state until the taxes are paid or satisfactory...more
Effective July 1, 2013, Connecticut passed a new law providing that the State must refuse to issue or renew a sales tax permit to any person or entity that owes taxes to the state until the taxes are paid or satisfactory...more
In re Majestic Star Casino, LLC, F.3d 736 (3rd Cir. 2013), the U.S. Court of Appeals for the Third Circuit broke from other courts by holding that S corporation status (or "qualified subchapter S subsidiary" or "QSub" status)...more
Business Bankruptcies Continue to Decline
by Joel R. Glucksman on August 13, 2013
Americans have been inundated as of late with news relating to several high-profile
business bankruptcies, suggesting that more...more
A business experiencing financial difficulty will typically be forced to allocate its scarce resources toward payment of only some of its creditors. In that process, it is important to keep in mind that for some types of...more
Welcome to the first edition of a series of quarterly updates from Reed Smith on California state tax developments. Every quarter, we will bring you legal updates and provide some insight on what taxpayers are facing in...more
If a taxpayer who has borrowed money from bank defaults on repayment and does not repay the bank, the taxpayer will have cancellation of indebtedness income to the extent that the amount due the lender exceeds the value of...more
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
A recent decision out of the Bankruptcy Court for the Northern District of New York has brought greater certainty to the interpretation of what qualifies as an “interest” when determining the scope of a Section 363(f) “free...more
In a recent decision, the Bankruptcy Court for the Northern District of New York broadly interpreted the meaning of “interest” in the context of determining the scope of a sale free and clear of “liens,...more
In this issue:
- Delivered by Independent Contractors, Undelivered by P.L. 86-272: Order Fulfillment Activities Subject Out-of-State Seller to New York Corporation Franchise Tax
- Everything’s Bigger in Texas,...more
One benefit of conducting business through a corporation, limited liability company or other limited liability entity is the “shield” from personal liability that these entities generally afford stockholders, directors and...more
The Sixth Circuit: Severance, NOT Subject to FICA.
Last month, the Sixth Circuit affirmed a Michigan Bankruptcy Court and District Court order approving a corporate taxpayer's request for refund of FICA (Federal...more
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