Tax

  • The Recorder

    City of Anaheim v. Cohen

    By therecorder | The Recorder | September 5, 2017

    C.A. 3rd; C081918 The Third Appellate District reversed a judgment. The court held that a city’s payment of funds directly to a construction company…

  • The Recorder

    Quinault Indian Nation v. Pearson

    By therecorder | The Recorder | August 31, 2017

    9th Cir.; 15-35263 The court of appeals affirmed a judgment of dismissal. The court held that an Indian tribe’s filing of a complaint against a…

  • New York Law Journal

    The Potential Perils of Crowdfunding Donations

    By Jennifer Cona and Dana Walsh Sivak | August 30, 2017

    Jennifer Cona and Dana Walsh Sivak of Genser Dubow Genser & Cona write: The practice of crowdfunding donations remains largely unregulated, with little guidance as to how to resolve issues that may arise in the course of a fundraiser organized through a crowdfunding site. Most problems arise because well-meaning friends and relatives were unaware of the negative consequences that can result from a crowdfunding campaign and therefore failed to plan ahead to avoid them.

  • Daily Business Review

    Welcome News for Non-US Persons Investing in US Businesses

    By Commentary by Seth J. Entin | August 29, 2017

    On July 13, the U.S. Tax Court, issued a decision that is of major importance to non-U.S. investors. In Grecian Magnesite Mining, Industrial & Shipping…

  • The Recorder

    California Cannabis Coalition v. City of Upland

    By therecorder | The Recorder | August 28, 2017

    Cal.Sup.Ct.; S234148 The California Supreme Court affirmed a court of appeal decision. The court held that Cal. Const. art. XIII C, §2, which limits…

  • National Law Journal

    Paul Manafort's Lawyer Leaves His Firm Two Weeks After Taking Case

    By Katelyn Polantz | August 25, 2017

    Kevin Downing, a tax partner at Miller & Chevalier in Washington, D.C., left the firm Thursday. He will continue to advise President Donald Trump's former campaign manager Paul Manafort, who reportedly received subpoenas Friday from a federal grand jury probing a public relations firm that did work for Ukraine.

  • New York Law Journal

    Chutzpah Charitable Gift Valuation Case of the Decade

    By Conrad Teitell | August 25, 2017

    In his Estate Planning and Philanthropy column, Conrad Teitell reviews a recent case where a claimed $33 million charitable deduction—a remainder interest in real property given to a university—was disallowed because the donor failed to state the contributed property's cost on Form 8283, and according to the Tax Court, was about $29.5 million too high anyway.

  • New York Law Journal

    IRS Issues Regulations on Disguised Sale Rules

    By Peter M. Fass | August 22, 2017

    Real Estate Securities columnist Peter M. Fass reviews new IRS regulations that will significantly limit a contributing partner's ability to be allocated a disproportionate share of a partnership's debt, thereby limiting the opportunity for such partner to receive tax-free cash distributions from a partnership related to a contribution of appreciated property.

  • New York Law Journal

    Losing Hand for Taxpayer in Dealer Property Case

    By Ezra Dyckman and Daniel W. Stahl | August 22, 2017

    In their Taxation column, Ezra Dyckman and Daniel Stahl write: Unfortunately, there are many circumstances where it is unclear whether real estate constitutes dealer property. One difficult question that sometimes arises is when a change in circumstances causes real estate that initially was dealer property to no longer be classified as such and discuss a recent case where a taxpayer was unsuccessful in its argument that a change in its intentions caused dealer property to be converted into property held for investment.

  • Daily Business Review

    What You Need to Know About IRS Agents and Their Methods of Proof

    By Commentary by Stanley Foodman | August 22, 2017

    An IRS agent may criminally or civilly investigate a taxpayer for under-reporting income, overstating deductions or not reporting certain income. According to the Internal Revenue Manual (IRM), the IRS uses the methods of proof outlined in part nine of the IRM to evaluate the situation and proceed in a civil or criminal tax investigation case, writes Stanley Foodman.

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