Tax Finance & Banking Mergers & Acquisitions

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New IRS Guidance Offers Insight Regarding Covered Transactions Under the Transaction Cost Regulations

When the IRS released the transaction cost regulations of Treas. Reg. 1.263(a)-5, a new term was created: “covered transaction.” Unlike the treatment of a covered transaction in a tax shelter context, which is generally...more

DQ’d: New Inversion Regulations Expand the Reach of the Public Offering Rule and Offer a Few Other Surprises

On January 17, Treasury and the IRS published new temporary and proposed regulations under Section 7874 of the Internal Revenue Code that expand the reach of the so-called “public offering rule” of Section 7874(c)(2)(B) to...more

New Temporary Regulations Introduce a Welcome De Minimis Rollover-Shareholder Exception to US Anti Inversion Rules

On January 16, 2014, the Treasury Department and the Internal Revenue Service released new temporary regulations on one aspect of corporate inversions under Section 7874 (the “Regulations”) that altered and clarified the...more

The 336(e) Election: Possible Deemed Asset Sale Treatment When a 338(h)(10) Election is Unavailable

For U.S. federal income tax purposes, a purchaser in a corporate acquisition typically prefers to acquire assets of a target corporation (“Target”) rather than stock because a purchaser that acquires assets is able to “step...more

Investors Plead Guilty to Rig Bids at New Jersey Municipal Tax Auctions

Investors Plead Guilty to Rig Bids at New Jersey Municipal Tax Auctions by Frank L. Brunetti on October 3, 2013 Two financial investors who purchased municipal tax liens pleaded guilty today for their roles in a...more

Ecotality Files for Chapter 11 Bankruptcy

Ecotality Files for Chapter 11 Bankruptcy by Joel R. Glucksman on October 3, 2013 Ecotality, a green-energy company backed by the U.S. government, has followed in the footsteps of many other electric car battery...more

All a Twitter: Why IPOs Are Back

All a Twitter: Why IPOs Are Back by Dan Brecher on September 24, 2013 Twitter, Inc. recently announced plans for an initial public offering (IPO). The news confirmsthat companies are increasingly deciding it's a good...more

Gov. Snyder Puts Positive Spin on Detroit Bankruptcy to Chinese Investors

Gov. Snyder Puts Positive Spin on Detroit Bankruptcy to Chinese Investors by Joel R. Glucksman on September 20, 2013 Local and state governments, as well as the federal government, are not the only ones closely watching...more

GateHouse Media Seeks Bankruptcy Protection

GateHouse Media Seeks Bankruptcy Protection by Joel R. Glucksman on September 19, 2013 GateHouse Media, Inc., a company that owns more than 400 community newspapers and websites, announced its plans to seek bankruptcy...more

San Bernardino Commits to Mediation ‘Outline’

San Bernardino Commits to Mediation ‘Outline’ by Joel R. Glucksman on September 17, 2013 One week after a U.S. Bankruptcy Judge ruled that the city of San Bernardino is eligible to seek protection under the provisions...more

The U.S. Announces Penalty Rates for Swiss Banks Involved in Tax Probe

The U.S. Announces Penalty Rates for Swiss Banks Involved in Tax Probe by Joseph M. Donegan on September 16, 2013 The Department of Justice unveiled a new program designed to both encourage Swiss banks to cooperate with...more

IRS Begins Crackdown of Small Businesses

IRS Begins Crackdown of Small Businesses by Joseph M. Donegan on September 13, 2013 Small businesses may face increased scrutiny from the Internal Revenue Service, which recently announced that it believes small...more

Lobstermen Fall Victim to Supply and Demand

Lobstermen Fall Victim to Supply and Demand by Dan Brecher on September 13, 2013 Businesses of all sizes and in all industries must contend with the age-old economic principle of supply and demand. Whether your business...more

American Arbitration Association Issues Rule Update for Commercial Arbitration

American Arbitration Association Issues Rule Update for Commercial Arbitration by Robert Levy on September 12, 2013 The American Arbitration Association (AAA), which handles over 100,000 disputes each year, recently...more

The IRC §409A Minefield

The IRC §409A Minefield by James F. McDonough, Jr. on September 11, 2013 Tax professionals frequently encounter non-qualified deferred compensation plans (“NQDCA”) in the context of an estate or business. NQDCA’s...more

Uneasy Link Between Federal Income Tax And NJ Gross Income Tax

Uneasy Link Between Federal Income Tax And NJ Gross Income Tax by James F. McDonough, Jr. on September 6, 2013 There is a difficult and uneasy relationship between the Federal Income Tax (FIT) and the New Jersey Gross...more

Kodak Receives Final Approval to Make Bankruptcy Emergence

Kodak Receives Final Approval to Make Bankruptcy Emergence by Joel R. Glucksman on September 5, 2013 Photography pioneer Eastman Kodak Co. has experienced a rough 19 months after seeking Chapter 11 bankruptcy protection...more

The Mergers & Acquisitions Review - Seventh Edition: Chapter 20: Cyprus

I GENERAL INTRODUCTION TO THE LEGAL FRAMEWORK FOR M&A - Since Cyprus’s accession to the EU, the legislation regulating M&A activity in Cyprus has been closely aligned with Europe-wide practices. Prior to...more

Stimulus-Backed Car Charging Company Close to Bankruptcy

Stimulus-Backed Car Charging Company Close to Bankruptcy by Joel R. Glucksman on August 29, 2013 ECOtality Inc., a U.S. Energy Department-backed maker of electric car charging systems, is teetering on the brink of...more

Use of Formula Clauses for Income Tax Advantage

In early 1985, Nestlé Holdings Inc. (Nestlé US), a first-tier wholly owned subsidiary of Nestlé S.A. (Nestlé Switzerland), acquired Carnation Co. and made an election under section 338 for that acquisition. Under section 338,...more

Liechtenstein Bank Forced to Pay Tax Evasion Settlement IRS

Liechtenstein Bank Forced to Pay Tax Evasion Settlement IRS by Joseph M. Donegan on August 27, 2013 In another victory for the IRS and the Department of Justice, Liechtensteinische Landesbank AG - or Liechtenstein...more

Bankruptcy Judge Hesitant to Approve AMR’s Bankruptcy Plan

Bankruptcy Judge Hesitant to Approve AMR’s Bankruptcy Plan by Joel R. Glucksman on August 27, 2013 The Justice Department's unexpected antitrust lawsuit that is designed to halt the merger of US Airways and American...more

Government Lawsuit Seeks to Block AMUS Airways Merger

Government Lawsuit Seeks to Block AMUS Airways Merger by Joel R. Glucksman on August 23, 2013 A government lawsuit, filed by the Justice Department and several states, is seeking to halt the proposed American Airlines...more

Will the Bitcoin Become a New Tax Evasion Tool?

Will the Bitcoin Become a New Tax Evasion Tool? by Joseph M. Donegan on August 19, 2013 Bitcoins, a controversial but highly popular global digital currency, is being used by more consumers to make several types of...more

Oil, Gas Industry Faces Scrutiny for Labor Practices

Oil, Gas Industry Faces Scrutiny for Labor Practices by Frank L. Brunetti on August 16, 2013 In light of a recent government report that shed light on the prevalence of incorrect worker classification, many companies...more

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