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Eversheds Sutherland (US) LLP

A Giant Eagle rematch? IRS Chief Counsel reiterates its disagreement with Third Circuit’s interpretation of all-events test

On April 26, 2024, IRS Chief Counsel, Income Tax & Accounting (IT&A), released a legal memorandum (ILM) addressing the treatment of credit card reward liabilities for which a customer earns rewards that can be redeemed for...more

Foodman CPAs & Advisors

Formulario 1099-K 2023: Aclaración Del IRS

El 2/6/24, el IRS publicó preguntas frecuentes (FAQs) nuevas y actualizadas sobre el Formulario 1099-K 2023 dado que el 21 de noviembre de 2023 (a través del Aviso 2023-74) el IRS anunció que el año calendario 2023 también...more

Foodman CPAs & Advisors

Form 1099-K 2023 IRS Clarification

On 2/6/24, the IRS released new and updated FAQs regarding Form 1099-K 2023 given that on November 21, 2023 (via Notice 2023-74) the IRS announced that calendar year 2023 would also be a transition year for third party...more

Alston & Bird

Payments Docket - May 2023

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The latest edition of the Payments Docket, our roundup of key litigation involving the payments industry, features fintechs and nonbanks continuing to face regulatory scrutiny, crypto going bankrupt, and banks are paying for...more

Fox Rothschild LLP

TAX SEASON IS UPON US. Three Quick Thoughts Whether You are Divorcing or Not.

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We just saw an article published in Marketwatch (a Dow Jones electronic publication) where an executive confesses to have $100,000 in gambling debt on credit cards his spouse knows nothing about. Suffice to say there is no...more

Rivkin Radler LLP

Constructive Dividends and The Closely Held C Corporation

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Withdrawing Value- Any tax adviser who has represented closely held businesses and their owners long enough realizes there are certain recurring themes that transcend the otherwise unique characteristics of the industry of...more

Freeman Law

Back Off, IRS!—Accounts Holding Advance Child Tax Credit Payments Immune from Levy?

Freeman Law on

By now, many eligible taxpayers may have found a deposit appear in their bank account during July. This was likely in addition to one or more correspondence letters from the Internal Revenue Service and/or the White House...more

Robins Kaplan LLP

Financial Daily Dose 6.9.2021 | Top Story: E-Truck Startup Lordstown Faces Potential Closure on Funds Shortage

Robins Kaplan LLP on

Electric truck-maker Lordstown (that “aimed to revive a shuttered General Motors factory in Ohio”) revealed this week in a regulatory filing that it does “not have enough cash to start commercial production of its electric...more

K&L Gates LLP

COVID-19: Washington State Resource Guide for Individuals Dealing with COVID Financial Impacts

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This guidebook is designed to serve as an interactive reference for individuals in Washington state looking for information and resources available to help with the financial impacts of COVID-19. It is not legal advice and...more

Saul Ewing Arnstein & Lehr LLP

Scams That Prey on the Elderly

In addition to the many companies, organizations and governmental units that are attempting to help people who are planning or are into their retirement, we should not be surprised to learn that there are many scams being...more

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