Divorce is a complex and emotionally charged process that also brings substantial financial considerations, with three of the most significant financial aspects of a divorce being alimony (spousal support), child support, and...more
12/19/2024
/ Alimony ,
Child Support ,
Divorce ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Property Division ,
Settlement ,
Settlement Negotiations ,
Spousal Support ,
Spouses ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Preparers ,
Tax-Free Transfers
When a business is sold, the most important overall aspect of negotiations between a cautious buyer and determined seller may be due to the agreed-upon purchase price for the business. However, when the buyer is purchasing...more
8/21/2024
/ Acquisitions ,
Asset Class ,
Business Assets ,
Buyers ,
Cost Allocation ,
Fair Market Value ,
Internal Revenue Code (IRC) ,
IRS ,
Negotiations ,
Purchase Agreement ,
Purchase Price ,
Real Estate Investments ,
Sellers ,
Selling a Business ,
Tax Planning
In Soroban Capital Partners, LP v. Commissioner, the U.S. Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended (the “Code”) ...more
2/14/2024
/ Appeals ,
Business Entities ,
Commercial Litigation ,
Exclusions ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Limited Partnerships ,
Partnerships ,
Self-Employment Tax ,
Tax Court ,
Tax Exemptions ,
Tax Planning
In IRS Notice 2023-71 (the “Notice”), the Internal Revenue Service (“IRS”) granted a postponement until October 7, 2024 for various time-sensitive filing and payment deadlines for taxpayers affected by the terrorist attacks...more
10/19/2023
/ Employment Tax ,
Estate Tax ,
Excise Tax ,
Filing Deadlines ,
Filing Requirements ,
Generation-Skipping Transfer ,
Gift Tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Israel ,
Relief Measures ,
Statute of Limitations ,
Tax Extensions ,
Tax Returns ,
Terrorist Acts ,
Time Extensions
Real estate developers have long had ample reasons to take on projects involving historic buildings, courtesy of Section 47 of the Internal Revenue Code of 1986. As amended, Section 47 (the “Code”) provides for a...more
9/5/2023
/ Eligibility ,
Historic Preservation ,
Historical Landmarks ,
Historical Rehabilitation ,
HTC ,
Internal Revenue Code (IRC) ,
Investment ,
Investors ,
IRS ,
Land Developers ,
Private Equity ,
Real Estate Development ,
Real Estate Market ,
State and Local Government ,
State Taxes ,
Tax Credits
The Internal Revenue Service (“IRS”) has recently devoted great attention to detecting, investigating, and prosecuting fraud, particularly as it relates to the Employee Retention Tax Credit (“ERC”) post-COVID. On a webinar...more
8/8/2023
/ Business Tax Credits ,
Business Taxes ,
CARES Act ,
Coronavirus/COVID-19 ,
Criminal Investigations ,
Employee Retention ,
Employer Liability Issues ,
Enforcement Actions ,
Fraud and Abuse ,
Internal Revenue Code (IRC) ,
Investigations ,
IRS ,
Payroll Taxes ,
Popular ,
Relief Measures ,
Tax Credits ,
Tax Fraud ,
Tax Relief ,
Tax Returns ,
Tax Scams ,
Wages