Recently released final regulations under section 162(f) of the Internal Revenue Code of 1986, as amended (the “Code”), make it a necessity to properly draft settlement agreements and court orders between a taxpayer and the...more
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) offers tax relief which may be beneficial to entities taxed as partnerships. These provisions include (i) retroactive relief for entities taxed as...more
With the extension of the income tax filing season through July 15th and the forthcoming stimulus funds that will be distributed to taxpayers, it is important for everyone to stay vigilant to avoid scammers and fraudsters who...more
Like the poor little bird in the Dr. Seuss book that struggled to identify its mother, it can sometimes prove difficult for partners in a partnership to identify their partners for federal income tax purposes. Partnerships...more
The Consolidated Appropriations Act, 2018 (“Act”), was signed into law on March 23rd. The Act contains a number of changes to the partnership audit rules that went into effect for partnerships (including LLCs taxed as...more
The Fifth Circuit Court of Appeals recently affirmed that the devil really is in the details in a case that illustrates the importance of ensuring that deal documents accurately reflect the parties’ agreed upon terms with...more
As we enter the giving season and begin making charitable contributions it is important to remember that some gifts require more than just the act of giving to qualify for a charitable tax deduction. For monetary...more