On June 21, 2021, the U. S. Supreme Court declined to hear Eric D. Speidell, et al., Petitioners v. United States, which sought to overturn the Tenth Circuit Court of Appeals’ 2020 opinion on Speidell v. United States. In...more
On Friday, May 28, 2021, the Biden Administration released its Green Book setting out the President’s revenue and policy proposals. Of particular interest to investors is the administration’s proposal to raise the tax on...more
6/14/2021
/ Capital Gains ,
Estate Planning ,
Green Book ,
Income Taxes ,
Investors ,
Joe Biden ,
Long-Term Investment Funds ,
Personal Property Tax ,
Popular ,
Retroactive Taxes ,
Tax Rates ,
Transfer Taxes
On May 20, 2021, the Department of the Treasury released the American Families Plan tax compliance agenda, detailing the tax compliance initiatives in President Biden’s American Families Plan. The tax compliance agenda is...more
On May 17, 2021, the U.S. Tax Court issued a Memorandum Opinion in Vincent J. Fumo v. Commissioner, T.C. Memo. 2021-61, regarding the definition of a “disqualified person” under I.R.C. section 4958(a)(1). Managers of...more
On April 27, 2021, the United States Tax Court held that legal fees incurred by generic drug manufacturers in connection with “Section 271(e)(2)” patent infringement suits are deductible as ordinary business expenses and need...more
Pursuant to the CARES Act, many employers took advantage of the ability to defer payment of the employer portion of certain social security taxes that were otherwise due during 2020. Some have asked questions about whether...more
On March 27, 2020 the Coronavirus Aid, Relief and Economic Security Act (CARES) was signed into law. We have summarized below some of the more significant tax provisions in CARES applicable to businesses and individuals....more
On Friday March 20, 2020 the Internal Revenue Service issued IRS Notice 2020-18 regarding federal income tax payments and income tax returns due on April 15, 2020. The guidance supersedes and replaces IRS Notice 2020-17 that...more
In South Dakota v. Wayfair, Inc., et al., the U.S. Supreme Court recently overruled long-standing precedent on what is necessary to create “nexus” to collect sales or use tax on sales into a particular state. The decision...more
7/11/2018
/ Appeals ,
Commerce Clause ,
Constitutional Challenges ,
Internet Retailers ,
Interstate Commerce ,
Out-of-State Companies ,
Physical Presence Test ,
Quill ,
Reversal ,
Sales & Use Tax ,
SCOTUS ,
South Dakota v. Wayfair ,
Substantial Nexus