David E Kahen

April 19, 2023 | New York Law Journal

In their Taxation column, Elliot Pisem and David E. Kahen discuss "Estate of Hoensheid v. Commissioner," where it was found that the valuation of shares did not meet the requirements of a qualified appraisal under section 170. The authors write: "The discussion in the opinion underscores the need to engage a qualified appraiser and for such further steps as are necessary to be taken to assure that the appraiser's report complies with the requirements of a qualified appraisal."

By Elliot Pisem and David E. Kahen

10 minute read

February 15, 2023 | New York Law Journal

In their Taxation column, David Kahen and Elliot Pisem discuss two recent Tax Court memorandum decisions which underscore the importance of taking applicable tax rules into account when decisions are being made as to how to incur and report expenses, with a view to minimizing the potential for issues to arise on audit.

By David E. Kahen and Elliot Pisem

9 minute read

December 14, 2022 | New York Law Journal

The potential for enforcement of a transferor's tax obligations against its transferee is demonstrated by 'ACI Construction, LLC v. United States', a recent decision of the U.S. District Court for the District of Utah.

By Elliot Pisem and David E. Kahen

7 minute read

October 19, 2022 | New York Law Journal

The 'Belmont Properties' decision is an important reminder that the consistency rule may not be applicable where, for example, the government has been informed of the relevant facts and accepted the taxpayer's erroneous treatment without challenge in an earlier audit, in the context of a mutual mistake of law.

By David E. Kahen

9 minute read

August 17, 2022 | New York Law Journal

The article discusses 'Kellett v. Commissioner', a recent Tax Court decision addressing the tax treatment of start-up expenditures and, perhaps more generally, the ability of a taxpayer to rely on IRS guidance that is determined by a court to lack statutory authorization.

By David E. Kahen and Elliot Pisem

9 minute read

June 15, 2022 | New York Law Journal

The article discusses 'Continuing Life Communities Thousand Oaks, LLC v. Commissioner', a recent decision of the Tax Court that rejected an IRS effort to change the method of accounting followed by a LLC for financial and tax purposes to a less favorable method.

By Elliot Pisem and David E. Kahen

10 minute read

April 20, 2022 | New York Law Journal

In this edition of their Taxation column, Elliot Pisem and David E. Kahen discuss two recent cases in which federal tax rules were found to be unenforceable by reason of the government's failure to comply with the notice-and-comment requirement of the Administrative Procedure Act.

By Elliot Pisem and David E. Kahen

9 minute read

February 16, 2022 | New York Law Journal

In this edition of their Taxation column, Elliot Pisem and David E. Kahen discuss 'FAB Holdings v. Commissioner', a recent Tax Court decision that considers issues relating to "correlative adjustments" that may be appropriate with respect to tax obligations of a person receiving a payment where an adjustment is made to the tax treatment of the person who made the payment.

By Elliot Pisem and David E. Kahen

8 minute read

December 15, 2021 | New York Law Journal

In this edition of their Taxation column, Elliot Pisem and David E. Kahen discuss a recent decision in which the Tax Court determined that the Ricketts family's investment, although documented as subordinated debt, was properly characterized as "equity" for tax purposes, such that the deferral sought by Tribune Media was unavailable.

By Elliot Pisem and David E. Kahen

8 minute read

October 20, 2021 | New York Law Journal

In this edition of their Taxation column, Elliot Pisem and David E. Kahen discuss the recent Tax Court decision in 'Kelly v. Commissioner', which deals with the recharacterization of purported loans made between affiliates as shareholder distributions, and potential consequences for failure to file a Form 5471 in the context of a foreign corporation owned by a U.S. person.

By Elliot Pisem and David E. Kahen

9 minute read