Read Tax Law news, alerts, and legal commentary from leading lawyers and law firms:
Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
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?
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
A bipartisan group of 11 legislators have proposed an overhaul of Maine’s tax system, including major changes to the individual and corporate income tax, property tax, sales tax, and estate tax. ...more
International buyers invested $82.5 billion in U.S. residential real estate (4.8% of total U.S. sales) according to the most recent survey conducted by the National Association of Realtors for the 12 month period ending with...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
Has your Corporation filed a request for reconsideration for the common amenity service unit(s) in your building (i.e. guest, superintendent, recreational units and other units owned by the Corporation that provide services...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
In This Issue:
PA Governor Proposes Corporate Tax Cuts; Add-Back Legislation Reintroduced; PA Supreme Court Issues Business/Nonbusiness Income Decision; Philadelphia Property Reassessments; Commonwealth Court Addresses...more
In This Issue:
Divided Appellate Division Affirms Tribunal’s Gaied “Permanent
Place of Abode” Decision; Combined Reporting Permitted by ALJ Despite Absence of Substantial Intercorporate Transactions; Commissions Paid...more
It has long been popular for high net-worth people who are not domiciled in the United Kingdom (“non-doms”) to form an offshore company, often in the British Virgin Islands (“BVI”), for the purposes of holding property in the...more
Penn National Gaming, Inc. (PNG) announced last evening the first-ever tax-free spin-off of a “PropCo” real estate investment trust (REIT) from a taxable C corporation. PNG intends to separate its real property gaming...more
In This Issue:
Appellate Court Holds “Reconstitution” of Housing Cooperative Is Not Subject to City Transfer Tax; Trial Court Upholds Retroactive Application of 2010 Statutory Amendment; Tribunal Holds S Corporation...more
Residential rental projects financed with “9%” low income housing tax credits in the late 1990’s or early 2000’s offer, or will soon offer, special opportunities for acquisition/rehabilitation financing with tax exempt bonds...more
In Citizens Association of Sunset Beach v. Orange County Local Agency Formation Commission (--- Cal.Rptr.3d ----, Cal.App. 4 Dist., October 5, 2012), a California Court of Appeal considered whether Proposition 218’s ban on...more
This week we have a guest blogger, Peter Clark, partner with Heenan Blaikie’s Taxation Law Practice Group. In his post, Peter discusses the potential tax implications of condominium flips....more
The Second District Appellate Court recently upheld the Department of Revenue’s denial of a property tax exemption for the Village at Victory Lakes in Lindenhurst, Illinois, which is a continuing care retirement community...more
In This Issue:
- Oregon DOR Out of Luck on SOL
- SALT PET OF THE MONTH
- To Be or Not to Be ASP: South Carolina’s Treatment of Bundled Services
- Administrative Convenience Justifies Inequality in Tax Forgiveness...more
In This Issue:
Online Advertising; PA Sales Tax Prepayment Option; State & Local Tax Seminars; PA School Districts Seek to Increase Property Taxes; Florida Domicile Upheld; Nonresident Limited Partners Lose Entire...more
Table of Contents:
•Supreme Court Resolves Basis Overstatement Issue
•Supreme Court Finds No Equal Protection Violation for City’s Forgiveness of Future Tax Obligations
•Taxpayer Increases Basis of S...more
The General Assembly recently enacted several laws that make various changes to Pennsylvania taxes. These changes present traps for the unwary as well as planning opportunities for businesses and individuals seeking to reduce...more
Bay Area families that have yet to take advantage of the current gift tax exemption are running out of time. As of midnight on December 31, 2012, the $5 million exemption disappears and will be replaced by a $1 million...more
Dinsmore’s Commercial Finance Practice Group frequently handles mortgage transactions where the mortgaged property is located in Maryland. One popular finance mechanism in Maryland has been the indemnity deed of trust or...more
In This Issue:
- Conditions favorable for gifts: High exemption amount and low tax rate make
2012 the year to transfer significant wealth
- Keep family harmony when transferring a vacation home
All residential condominium corporations that have guest suites, gatehouse units, recreational units, service units, or other units that are owned by the Corporation should be checking the property tax assessments for these...more
In April 2006, the state of Georgia passed the Georgia Land Conservation Tax Credit Act, creating a new state income tax credit (not deduction) for land conservation. The purpose of the law was to provide a financial...more
In Morguard Corporation v. The Queen, 2012 TCC 55, Justice Boyle of the Tax Court of Canada considered whether a “break fee” received by a predecessor of the Appellant (for the purposes of this discussion, the “Appellant”) in...more
Today, the Virginia Supreme Court issued one opinion affecting the practice of Virginia local government law. The following summary comes from the Virginia Supreme Court website:
102409 City of Richmond v....more
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