James McDonough – Scarinci Hollenbeck

The MarketPlace Fairness Act: Does It Foreshadow a Value Added Tax by James F. McDonough, Jr. on May 13, 2013 The Senate passed The Marketplace Fairness Act (the “Act”) and sent the bill for consideration to the House. …more

Mary J. Blige Faces Tax Lien on New Jersey Mansion by James F. McDonough, Jr. on February 21, 2013 Grammy winner and R&B artist Mary J. Blige is facing a host of financial issues that recently culminated in a $900,000 tax…more

Court Reverses Ernst & Young Tax Decision by James F. McDonough, Jr. on January 21, 2013 Reversal of Tax Decision Two former Ernst & Young attorneys won a reversal of a tax decision that convicted them of developing…more

IRS Affirms Rule on Reimbursements and Wages by James F. McDonough, Jr. on December 5, 2012 The rules governing employee wages, reimbursements and taxes have been confusing for some business owners who have been levied…more

Estate Tax Change to Affect Nearly 15 Million Households By James F. McDonough, Jr. on November 7th, 2012 The current estate tax law conditions are expected to expire on December 31, 2012, if lawmakers fail to act. If…more

The Impact of the Internet Upon Long-Standing Rules of Taxation By James F. McDonough, Jr. on October 3, 2012 There are certain legal doctrines that have been developed to address state taxation of non-resident…more

Estate Planning Acronyms for the Remainder of 2012 By James F. McDonough, Jr. on September 24, 2012 As we approach the fiscal cliff and the outcome of the presidential and congressional elections are not clear,…more

Gifting in 2012: Strategies for the Reluctant Donor By James F. McDonough, Jr. on September 10, 2012 Clients are reluctant to transfer assets to the next generation, in part, due to the financial turmoil of the past few…more

Wills in Era of Digital Signatures, Electronic Signatures and (of) No Signatures By James F. McDonough, Jr. on August 15th, 2012 The public is generally aware that a Will must be signed to be valid. The public is also…more

1% Loans – Act Now – Available For A Short Time Only By James F. McDonough, Jr. on August 8th, 2012 Will your heirs be able to borrow money after your death at an interest rate of one percent (1%), in order to pay the…more

What Facebook, Expatriation and The Ex-Patriot Act Have In Common? By James F. McDonough, Jr. on June 4th, 2012 The answer is Eduardo Saverin, the Facebook insider who renounced his U.S. citizenship in September of 2011…more

Facebook and Estate Planning By James F. McDonough, Jr. on May 18th, 2012 Facebook has grabbed the headlines, but behind the scenes key personnel have undertaken critical estate planning, proving that they are more than…more

IRS Held to Three-Year Timeline to Audit Tax Shelters By James F. McDonough, Jr. on May 11th, 2012 The Supreme Court recently ruled the Internal Revenue Service is required to audit tax shelters within a three-year…more

Taxpayer Wins Court Approval of Defined Value Gift Clause By James F. McDonough, Jr. on May 4th, 2012 Perhaps no recent taxpayer victory is more important to estate and gift tax planning than the case of Wandry v…more

New Jersey Sales Tax Revenue Losses Fall Between $64 – $94 Million due to Gift Card Law By James F. McDonough, Jr. A recently-enacted New Jersey property law may result in revenue losses totaling between $64 and $94…more