Features
Update on Corporate Bankruptcy Tax Refund Litigation
The bankruptcy trustee of a bank holding company was not entitled to a consolidated corporate tax refund when a bank subsidiary had incurred losses generating the refund, Tenth Circuit held.
Features
Challenge to Property Tax Rejected
No one disputes that the property tax system in New York City is byzantine. In Tax Equity Now LLC v. City of New York, the First Department confronted what it viewed as a very different question: is it illegal. The court concluded that it is not, rejecting a variety of claims and leaving any reform to the legislature.
Features
Supreme Court Defers to State Law on Ownership of Tax Refund
Federal courts should "turn to state law to resolve" a "fight over a tax refund," held a unanimous U.S. Supreme Court in Rodriquez v. FDIC (In re United W Bancorp., Inc.).
Features
Supreme Court Defers to State Law on Ownership of Tax Refund
High Court Rejects Application of Bob Roberts Rule Federal courts should "turn to state law to resolve" a "fight over a tax refund," held a unanimous U.S. Supreme Court in Rodriquez v. FDIC (In re United W Bancorp., Inc.)
Features
Deciphering the Tax Status of Leased Property
Is a property leased to a farming tenant a commercial property or an agricultural property? What about a building leased to a government entity? The distinction can make a difference in the tax laws that apply to the parcel.
Features
Basic Tax Issues for Social Media Influencers
This article provides a general introduction to social media influencers and discusses common tax issues arising on the income side of the equation. What is taxable income? What happens if the influencer's compensation is paid in equity?
Features
IRS Issues New Plan 457(f) Non-Profit Exam Guidelines
Planning for executive benefits for top hat employees at non-profit organizations has undergone a frenzy of regulatory roadmap changes. Nonprofit NonQualified Benefits are largely directed and controlled by IRC §457.
Features
Key Tax and Financial Considerations for New Law Partners
Being asked to join the partnership of a firm is a measure of success as a legal professional. With that achievement comes tax and financial responsibilities that, surprisingly, few attorneys are fully prepared to deal with. These responsibilities include the unexpected individual federal and state and local tax filing and payments.
Features
Work Opportunity Tax Credit and On-Boarding
With the cost of doing business consistently on the rise combined with the increasing difficulty to find/retain great employees, there is no better time to pursue employment-based tax credits. There are both federal and state employment-based credits available that can help businesses offset income tax liability.
Features
Athletic Coaches and the Tax Act
When the Tax Cut and Jobs Act became law in December of 2017 there was a question whether some of the highest salaried employees at non-profit organizations would be exempt from the $1M remuneration tax. In the majority of states, the highest salaried employees are athletic coaches.
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