Read Tax Law news, alerts, and legal commentary from leading lawyers and law firms:
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Monitor Thy Drink: Alcohol Import Regulations Under the TTB (Alcohol and Tobacco Tax and Trade Bureau)
Corporate Law Report: Workplace Romances, FMLA Changes, California Tax News, and More
The Corporate Law Report: First-to-File Patents, Hiring for Cultural Fit, Roth Conversions Post-Fiscal Cliff, and Global Corporate Insights
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What Individuals and Businesses Need to Know About the American Taxpayer Relief Act
Corporate Law Report - Office Party Holiday Risks, Human Trafficking, the Fiscal Cliff, More
Micah Green on U.S. Fiscal Policy
Corporate Law Report: Obamacare Deadlines, $13M for Exotic Dancer Misclassification, 2013 Medicare Taxes, More...
Tax Questions to Ask Yourself with the End of 2012 and the Fiscal Cliff Approaching
How Do We Pay For Lower Corp Tax Rates?
Polsinelli Shughart Election Analysis and Legal Insight
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Why choose Canada for a Cross-Border Income Trust (CBIT)?
What is a Canadian Cross-Border Income Trust (CBIT)?
Bill on Bankruptcy: Solyndra, Lehman, MF Global, ATP Oil, LSP Energy, Want Ads
Should you Opt-Out of the Voluntary Disclosure Program?
Weekly Brief: CFPB, Legal Fees & Hashtag Hijackers
Cost of Voluntry Asset Disclosure Program
A California Superior Court has issued a decision with significant impact on financial services. In the case, Harley-Davidson, Inc. v. Franchise Tax Board, San Diego Superior Court Judge Joel Pressman held that...more
A taxpayer we will call John worked for a savings bank in New York that was acquired by Washington Mutual Bank. John participated in the New York bank’s supplemental executive retirement plan (SERP) and its deferred...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
When the time comes to collect a debt, few organizations are as accomplished as the Internal Revenue Service. The IRS showed just such guile in the case of In re Williams, a recent Chapter 7 proceeding in the Middle District...more
A debtor, regardless of state residence, can seek protection from his or her creditors in the federal bankruptcy courts. However, the state in which the debtor resides or, more accurately, is "domiciled," will determine which...more
Tax season is on us once again and many are thinking about how to make the best use of any tax refund to pay down their obligations. Be aware: scammers are out there and are plotting strategies to separate you from your...more
A federal bankruptcy court judge has held that Washington Mutual, Inc. (WMI), a parent holding company that owned bank subsidiaries conducting business in Oregon, did not have nexus in Oregon by virtue of its ownership of the...more
If you are in serious debt and fail to take action to remedy the situation, the IRS may levy your property or garnish your wages. A levy is a legal seizure of your property in order to satisfy a debt....more
If a substantial portion of a person’s wealth is in one or more IRAs, protecting the assets in those accounts is critical to his or her estate plan. IRAs provide significant benefits, including tax-deferred wealth...more
In welcome news for private equity (“PE”) funds, a recent district court opinion determined that two PE funds and their bankrupt portfolio company were not a “controlled group” and thus the PE funds were not responsible for...more
Oct. 24 (Bloomberg Law) -- The controversial approval of the Chapter 11 plan for solar-panel maker Solyndra LLC is the first topic on this week's Bloomberg bankruptcy video. For the second item, Bloomberg Law's Lee...more
In This Issue:
- TRIBAL CASINO BANKRUPTCIES – THE TRAIN IS LEAVING THE STATION by Dennis J. Whittlesey:
There long has been a legal debate as to whether businesses owned and operated by Indian tribes could either...more
Borrowers who file a bankruptcy petition are always looking for creative new challenges to claims asserted by their bank creditors. In recent years, debtors have argued that a bank’s issuance of an Internal Revenue Code form...more
One of the most dreaded things that can happen to you is the foreclosure of your home. This happens when you are not able to keep up the payments towards your mortgage and the bank forecloses your property. As if that were...more
The IRS is planning on sending out letters (“Letters”) over the next few months to several hundred issuers who have experienced covenant or payment defaults from 2007 to the present. The Letters remind issuers of their tax...more
Originally posted in the ABI Journal, Vol. XXXI, No. 5, June 2012.
Editor’s Note: For additional perspective on inherited IRAs, read the May 2011 cover article and a letter to the editor published in the July/August 2011...more
There is no clear consensus among the relevant rules of professional conduct, case law or the related ethics opinions interpreting the rules of the ethical responsibilities of attorneys regarding inadvertently sent or...more
In this issue:
- Lending Boost Possible from Tax Credit Bills
- Can an Unauthorized UCC Termination Negate My Security Interest?
- Enforceability of Forebearance Agreements Against Claims of Economic...more
Tampa, Florida, Tuesday, March 6, 2012: Did you know that all forgiven debt is considered taxable income? “Any debt forgiven is taxable, unless you can prove that the debt was discharged in bankruptcy or that you were...more
Lehman Plan Becomes Effective; Distributions to Begin April 17
On March 6, 2012, Lehman Brothers Holdings Inc. and its affiliated debtors announced that their Modified Third Amended Joint Chapter 11 Plan, which had been...more
A monthly report for wealth management professionals. In This Issue:
- March Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
- In re Grube...more
In re Jefferson Country, Alabama, Case No. 11-05736 (TBB) (Bankr. N.D. Ala. Jan. 6, 2012).
On January 6, 2012, Judge Thomas B. Bennett of the Bankruptcy Court for the Northern District of Alabama held that (i) the...more
If you have an outstanding tax debt and are curious if it can still be collected or if you want to know more about how long the IRS has to collect a tax, then you may want to take a look at this post!
Contact: George E....more
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