David E Kahen

October 16, 2019 | New York Law Journal

In their Taxation column, Elliot Pisem and David E. Kahen address two recent items of Treasury and IRS guidance relating to market-induced changes and their potential tax impact on owners of financial instruments, non-debt contracts and cryptocurrency: the change from the commonly used LIBOR rate to other reference rates in debt instruments and non-debt contracts, and "hard forks" in cryptocurrency where new units of cryptocurrency are received.

By Elliot Pisem and David E. Kahen

9 minute read

August 14, 2019 | New York Law Journal

In their Taxation column, Elliot Pisem and David Kahen discuss 'Mihelick v. United States,' where the Court of Appeals provided welcome guidance on the applicability of §1341 in situations involving a change in marital status and where the repayment resulting in a deduction is not made to the initial payor of the item.

By Elliot Pisem and David E. Kahen

10 minute read

June 19, 2019 | New York Law Journal

In their Taxation column, David E. Kahen and Elliot Pisem discuss 'McNely v. Commissioner', a recent Tax Court memorandum decision which sustained an IRS determination that no theft loss was allowable, and provides some useful lessons as to traps for the unwary in this context.

By David E. Kahen and Elliot Pisem

9 minute read

April 17, 2019 | New York Law Journal

In their Taxation column, David E. Kahen and Elliot Pisem discuss a recent decision in 'Manfre v. May', which illustrates the potential consequences where a stock sale agreement does not expressly address whether or not a terminating election will be made.

By David E. Kahen and Elliot Pisem

10 minute read

February 20, 2019 | New York Law Journal

In their Taxation column, Elliot Pisem and David E. Kahen discuss a recent order of the Tax Court addressing a motion for partial summary judgment in 'H R B-Delaware v. Commissioner'. The analysis in the decision underscores steps that are important to the evaluation of built-in gains (BIG) tax exposure, and may also inform analysis in non-BIG tax contexts regarding the existence of goodwill or going concern value.

By Elliot Pisem and David E. Kahen

9 minute read

December 19, 2018 | New York Law Journal

In their Taxation column, David E. Kahen and Elliot Pisem discuss a recent decision that offers guidance as to when a taxpayer will be considered to have adopted, or changed, an accounting method, which can be an issue in many contexts other than that of accounting for advance payments

By David E. Kahen and Elliot Pisem

11 minute read

October 17, 2018 | New York Law Journal

In their Taxation column, Elliot Pisem and David E. Kahen write: Based on the circumstances described in the opinions of the district court and the Court of Appeals in 'Rubin', the effort by the government to avoid consideration of the substance of refund claims by the S corporation shareholder, on the basis of the alleged failure to adequately identify the inconsistency with the corporation's reporting treatment, seems to have lacked substantial support—especially in light of the absence of any regulation under §6037 supporting the government's reading of the disclosure requirement.

By Elliot Pisem and David E. Kahen

9 minute read

August 15, 2018 | New York Law Journal

In their Taxation column, David E. Kahen and Elliot Pisem discuss 'Illinois Tool Works v. Commissioner,' a case which provides guidance as to the factors likely to influence a court in distinguishing a loan from a distribution.

By Elliot Pisem and David E. Kahen

11 minute read

June 20, 2018 | New York Law Journal

In their Taxation column, David Kahen and Elliot Pisem discuss the recent Tax Court case, "Caselli v. Commissioner," regarding a shareholder's unsuccessful efforts to effectively change a tax election made by the corporation.

By David E. Kahen and Elliot Pisem

1 minute read

April 18, 2018 | New York Law Journal

In their Taxation column, Elliot Pisem and David E. Kahen: The change made by the TCJA to §118 has obviously narrowed the scope of the exclusion from income for non-shareholder capital contributions to corporations. Uniquest, and the statement in the TCJA Conference Report underscoring that §118 is applicable solely to corporations, may cause the courts to be even more reluctant to seriously consider any argument for an exclusion from income of non-partner contributions to partnerships.

By Elliot Pisem and David E. Kahen

9 minute read