Read Tax Law news, alerts, and legal commentary from leading lawyers and law firms:
Hot Topics for Waste-to-Energy Investors and Developers
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
Will The Debt Ceiling Standoff End Up In Court?
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
Why choose Bennett Jones for your Canadian Cross-Border Income Trust (CBIT)?
What are the tax benefits of a Canadian Cross-Border Income Trust (CBIT)?
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
In Alabama, when a property owner fails to pay his ad valorem property taxes, his property may be sold at a public auction to the highest bidder (the “tax purchaser”). Statutory law in Alabama provides that the owner of the...more
Summary: Mortgagees and other lienholders whose proper address does not appear in a recorded mortgage or lien may not receive notice of a pending tax deed sale and may therefore lose collateral. A recent Florida court held...more
Recordation Tax Now Charged Upon Recordation of Indemnity Deeds of Trust Securing a Guarantee of a Loan or Related Loans of $3,000,000 or More -
Governor Martin O’Malley signed legislation this week that will again...more
A Canada Revenue Agency (“CRA”) audit initiative is targeting taxpayers who have recently sold condominium units they did not occupy or occupied for only a short period of time (the “CRA Condo Project”)....more
In line with our prior posts on Louisiana Keepers, the following is a sample of a typical issue that can arise in the Keeper context regarding the payment of costs and expenses associated with a loan.
Yesterday the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (the “CDFI Fund”) announced the award of $3.5 billion in Federal New Markets Tax Credit (NMTC) allocation authority through its...more
Disclosure: Joseph A. DiRuzzo, III of Fuerst Ittleman David & Joseph was part of the trial team that represented the taxpayers in the June 2010 bench trial in the District Court of the Virgin Islands....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
Many property owners are aware that one can sell investment property, at a profit, and reinvest the sales proceeds in replacement investment property, without having to pay tax on the sale. Such transactions are known as...more
Every so often, we might not realize that, by our actions, we are doing exactly what the opposing party wants us to do. Perhaps we do not have an appropriate amount of time for each and every decision to consider ‘the forest’...more
The Internal Revenue Service recently released Field Attorney Advice 20124002F, revealing another attempt on audit to invalidate an allocation of historic tax credits (HTCs) to an HTC equity investor. Although only just made...more
In this presentation:
- What the IRS is doing
- What agencies can expect
- The legal requirements for 501(c)(3) status
- Recent IRS treatment of housing counseling agencies
- How to prepare...more
The Internal Revenue Service (IRS) is preparing an industry-wide review of tax-exempt organizations that are engaged in mortgage foreclosure assistance, including housing counseling agencies (the “compliance project”). In...more
The Office of the Chief Counsel of the Internal Revenue Service has issued a Legal Memorandum (Number AM2013-001, dated March 1, 2013) (the “Memorandum”), which has important implications and represents a victory for lenders...more
In This Issue:
- Part A – Regulation of Financial Markets
- Part B – Regulation of Investment Management
- Part C – Regulation of Investment Funds
- Appendix: Regulatory Calendar – Key Milestones
Cash basis taxpayers may deduct “qualified residence interest” when paid. Qualified resident interest is generally interest on a loan taken out to purchase a qualified residence, or to refinance it within certain dollar...more
The Internal Revenue Service released two internal advice memoranda this week regarding the proper treatment of expenses incurred by banks and other financial institutions in connection with “Other Real Estate Owned” (“OREO”)...more
Owners of most income-producing properties in New York City have an obligation to file an annual Real Property Income & Expense (“RPIE”) form with the NYC Department of Finance (“DOF”). (For more information about the purpose...more
This is a pivotal time for nonprofit providers of housing counseling and related services. The Internal Revenue Service ("IRS") has begun to focus on the activities of nonprofit, tax-exempt housing counseling agencies and...more
With a new year comes a new beginning. While New Year’s Day is typically viewed as a chance to start fresh and make changes in our personal lives, for many people New Year’s Day in 2013 took a different tone. Instead of...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
As part of the law passed as a last minute escape of the so-called fiscal cliff, Congress extended the Mortgage Forgiveness Debt Relief Act to the great relief of homeowners who’ve suffered foreclosure....more
On Monday, Jan. 7, Governor Branstad and Lt. Gov. Reynolds announced a new program which allows eligible homeowners that purchase a home in 2013 to receive a dollar-for-dollar federal tax credit in an amount up to $2,000 per...more
When Superstorm Sandy hit New Jersey on the evening of October 29, many local residents and businesses did not expect the devastation that followed. Numerous suffered substantial business and residential property losses as a...more
Today, the impact of the legislation passed by the House and Senate and autopenned into law by President Obama is still being digested and the entirety of its impact is still being analyzed for its impact on businesses,...more
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