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New York Law Journal

Religious Organizations Differ From Other Nonprofits—Here's Why That Matters

Counseling a religious entity is different from advising other not-for-profit corporations due to the special rules applicable to, and the constitutional protections afforded to, religious organizations in the United States.
8 minute read

New York Law Journal

Tax Implications of Relocating Your Home or Business

In this article, Sidney Kess discusses the various potential tax issues to consider when businesses and individuals relocate to a different state.
6 minute read

The Recorder

Eversheds Sutherland Builds 'Gateway to a Global Firm' With New San Francisco Tax Partner

Michael Lebovitz, the co-head of the international tax and transfer pricing team at Mayer Brown, joined Eversheds as it builds its San Francisco presence.
3 minute read

New York Law Journal

Estate Planning Org. Not IRC §501(C)(3) Exempt

This article covers how an estate planning organization was found to not qualify for federal income tax exemption under IRC §501(a) as an organization described in IRC §501(c)(3).
8 minute read

New York Law Journal

The Importance of Character: Tax Court Addresses Cancellation of Nonrecourse Debt

The distinction between COD income and gain on the sale of property was at issue in a recent Tax Court case, Parker v. Commissioner, discussed here.
4 minute read

New York Law Journal

A Reminder That Partnership Tax Status Requires Business Purpose and Profit Sharing

Likely, either the partnership or limited liability company is the most flexible of entities now available for business- or investment-related ventures. Whether either such entity is a partnership for tax purposes is the subject of this note.
7 minute read

New York Law Journal

Capital Loss Disputed: 'Computer Sciences Corp. v. Comm'r'

The article discusses a recent Tax Court order in Computer Sciences Corporation v. Commissioner. The order, after discussing various issues raised by the government relating to substance over form, step transactions, nonqualified preferred stock and other matters, denied a motion by the petitioner for summary judgment that it was entitled to a large capital loss.
9 minute read

Daily Business Review

Recent IRS Guidance Raises Compliance Concerns for Charitable NIL Collectives, Other Charities

As more donor groups have formed name, image and likeness (NIL) collectives as not for profit entities, the Internal Revenue Service (IRS) recently released guidance that effectively puts the brakes on the ability of these entities to collect tax-deductible donations from supporters. This guidance also raises compliance concerns for NIL collectives and possibly other charities.
7 minute read

New Jersey Law Journal

'Tyler' and a Call for Reform of the New Jersey Tax Foreclosure Process

While 'Tyler' would at first blush seem to have a localized effect, the ripples are already being felt in New Jersey, which utilizes a similar tax sale system as the one used in Minnesota.
6 minute read

Delaware Law Weekly

US Judge Delays Approval of Hunter Biden Plea Deal, Demanding More Information

The pause in evaluating the deal was welcomed by groups which on Tuesday filed amicus briefs with the court, asking U.S. District Judge Maryellen Noreika to ask for and consider more details on how it was reached.
3 minute read

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