Elliot Pisem

June 14, 2017 | New York Law Journal

In their Taxation column, Elliot Pisem and David Kahen discuss 'Hurford Investments No. 2 v. Commissioner', which underscores the continued potential for confusion as to the consequences of transfers of compensatory rights in non-arm's length transactions, and continued uncertainty regarding the scope of §1234A.

By Elliot Pisem and David E. Kahen

16 minute read

April 19, 2017 | New York Law Journal

In their Taxation column, Elliot Pisem and David E. Kahen discuss the structure of the accumulated earnings tax and Chief Counsel Advice 201653017 (Dec. 30, 2016), a memorandum which concluded that the AET may apply to a corporation that lacks ready access to cash or other liquid assets for distribution.

By Elliot Pisem and David E. Kahen

15 minute read

February 15, 2017 | New York Law Journal

In their Taxation column, David E. Kahen and Elliot Pisem of Roberts & Holland discuss two recent Tax Court memorandum decisions relating to S corporations and a recent change in IRS policy regarding private letter rulings on common S corporation issues.

By David E. Kahen and Elliot Pisem

17 minute read

December 14, 2016 | New York Law Journal

In their Taxation column, David E. Kahen and Elliot Pisem write: Seemingly mundane questions concerning the proper allocation of consideration in determining the basis of purchased assets can have a surprisingly large impact. The authors discuss a recent decision of the Court of Federal Claims which illustrated precisely that point when tackling issues of goodwill under IRC §1060.

By David E. Kahen and Elliot Pisem

17 minute read

October 19, 2016 | New York Law Journal

Elliot Pisem and David E. Kahen of Roberts & Holland discuss surprising and unfavorable results recently stemming from Internal Revenue Code §1234A, which governs the character of gain or loss attributable to the cancellation, lapse, expiration, or other termination of a right or obligation with respect to "property which is (or on acquisition would be) a capital asset."

By Elliot Pisem and David E. Kahen

18 minute read

August 18, 2016 | New York Law Journal

In their Taxation column, David E. Kahen and Elliot Pisem of Roberts & Holland discuss a recent Eleventh Circuit decision involving a surprising application of the 'Danielson' rule.

By David E. Kahen and Elliot Pisem

14 minute read

June 16, 2016 | New York Law Journal

In their Taxation column, David E. Kahen and Elliot Pisem of Roberts & Holland delve into two recent IRS Office of Chief Counsel memoranda concerning the disallowance as deductions under IRC §162(f) of amounts that would otherwise constitute ordinary and necessary business expenses, where the amount is a "fine or similar penalty paid to a government" and otherwise within the scope of that provision.

By David E. Kahen and Elliot Pisem

10 minute read

April 21, 2016 | New York Law Journal

In their Taxation column, Elliot Pisem and David E. Kahen discuss a recent notice of proposed rulemaking issued by the IRS and Treasury issued setting forth Proposed Regulations under §385. The Proposed Regulations would characterize certain debt instruments issued by corporations (or certain related non-corporate entities) to related persons as stock for federal tax purposes.

By Elliot Pisem and David E. Kahen

20 minute read

February 18, 2016 | New York Law Journal

In their Taxation column, Elliot Pisem and David E. Kahen discuss a recent decision of the Tax Court, which indicates that a shareholder may be required to recognize and pay tax on a surprisingly large amount of gain, at least absent planning that might achieve a more favorable outcome.

By Elliot Pisem and David E. Kahen

10 minute read

December 17, 2015 | New York Law Journal

In their Taxation column, David E. Kahen and Elliot Pisem discuss a recent Ninth Circuit decision that agreed with the government position that a policyholder's basis in the stock did not include any part of the premiums paid by the policyholder for insurance, and concluded that the entire proceeds from the subsequent sale of the stock by the policyholder constituted gain.

By David E. Kahen and Elliot Pisem

11 minute read