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Bowditch & Dewey

Cavanagh Strikes Again – Income for Calculating Child Support

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In 2022, the Massachusetts Supreme Judicial Court (SJC) issued a major decision impacting the calculation of alimony and child support. In Cavanagh v. Cavanagh, in addition to setting a new procedure for determining alimony...more

McDermott Will & Schulte

Potential Refund Opportunity for Interest and Penalty Amounts Accrued During COVID-19 Federally Declared Disaster

Taxpayers who made payments to the Internal Revenue Service (IRS) that included underpayment interest and/or failure-to-file/pay penalties that accrued during all or part of the period between January 20, 2020, through July...more

Blank Rome LLP

California Snags Former Resident for Tax Due on Stock Options

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Many employees receive stock options as compensation from their employers. When receiving this type of compensation, the state tax implications may not be at the forefront of the employees’ minds, especially where it may be...more

Allen Barron, Inc.

The Appeal of an IRS Audit is Based Upon the Audit's Examination File

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Did you know the appeal of an IRS audit is based upon the IRS examination file record of the audit itself? When the IRS produces its "Notice of Determination" at the end of an audit, a very important door closes: the ability...more

Blank Rome LLP

Supreme Court of Arkansas Allows Corporation to Allocate Interest Expense Incurred to Fund Corporate Spin-off

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A recent Supreme Court of Arkansas decision has upheld a multistate corporation’s allocation to Arkansas of 100% of its interest expenses from borrowings to fund a spin-off. It also rejected as irrelevant the state’s attempt...more

Rosenberg Martin Greenberg LLP

Affordable Care Act Battle Rages On: Fourth Circuit Holds Individual Mandate Is a Tax in Bankruptcy

As originally enacted, the Affordable Care Act (“ACA”) required most people to maintain health insurance. Those who did not maintain the required insurance were obligated to pay a “shared responsibility payment” (“SRP”),...more

Holland & Knight LLP

When Is a Tax Return "Filed"?

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In Notice 2004-45, 2004-2 C.B. 33, the IRS put taxpayers who were asserting to be bona fide residents of the U.S. Virgin Islands (USVI) and who were not following the requirements of meeting the applicable bona fide residency...more

Jones Day

New Appellate Court Ruling on Priority of Straddle-Year Taxes in Bankruptcy

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A basic tenet of bankruptcy law, premised on the legal separateness of a debtor prior to filing for bankruptcy and the estate created upon a bankruptcy filing, is that prepetition debts are generally treated differently than...more

Latham & Watkins LLP

US Supreme Court Decisions in Presidential Subpoena Cases: Implications for Private Parties

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The Court’s recent rulings on state grand jury and congressional subpoenas identify important limitations on the purpose and scope of these investigative tools. Key Points: ..In July 2020, the Court held that the...more

Saul Ewing LLP

Supreme Court Holds President Is Not Categorically Immune to State Court Subpoena

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In last week’s decision in Trump v. Vance, the Supreme Court addressed for the first time whether a state District Attorney’s Office can issue a state criminal subpoena to a President. Relying on historical examples dating as...more

Saul Ewing LLP

Supreme Court Affirms Congressional Subpoena Power but Remands for Further Review

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In yesterday’s decision in Trump v. Mazars, USA, the Supreme Court reaffirmed that Congress has the power to conduct investigations in support of its power to consider and enact legislation. However, it relied on historical...more

Dorsey & Whitney LLP

The Supreme Court - July 9, 2020

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The Supreme Court of the United States issued the following decisions: Trump v. Mazars USA, LLP, No. 19-715; Trump v. Deutsche Bank AG, No. 19-760: In April 2019, three United States House of Representatives’ committees...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Trump v. Mazars USA, LLP

On July 9, 2020, the U.S. Supreme Court decided Trump v. Mazars USA, LLP, No. 19-715, holding that in assessing whether a congressional subpoena directed at personal information of the president is “related to, and in...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Trump v. Vance

On July 9, 2020, the U.S. Supreme Court decided Trump v. Vance, No. 19-635, holding that President Donald Trump was required to respond to a state subpoena of his tax returns and other financial information because “Article...more

McDermott Will & Schulte

Second Circuit Weighs in on Tax Court’s Refund Jurisdiction

Borenstein v. Commissioner is an interesting opinion involving the intersection of canons of statutory construction and jurisdiction. Recently, the US Court of Appeals for the Second Circuit reversed the US Tax Court’s...more

McDermott Will & Schulte

Reasonable Cause for E-Filing Errors?

Tax return filing season is fast approaching, and taxpayers big and small are preparing to file their returns. A recent US Court of Appeals for the Fifth Circuit decision, Haynes v. United States, No. 17-50816 (5th Cir. Jan....more

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