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New York Law Journal

Privilege Analysis Following Dismissal of 'In re Grand Jury'

The attorney-client privilege protects confidential communications between attorneys and clients made in connection with the provision of legal advice. A recurring issue faced by litigants and courts is whether the attorney-client privilege applies to communications that involve legal and nonlegal advice that cannot be disentangled.
10 minute read

Daily Business Review

DeSantis Able to Tout Tax Breaks

Most of the nearly $1.3 billion in breaks for next fiscal year are slated to come from sales-tax cuts targeted at consumers. That includes providing tax exemptions on such things as diapers and other items from babies and toddlers.
4 minute read

The Legal Intelligencer

International Income and Estate Tax Planning for Cross-Border Clients

The United States has specific income tax rules for noncitizen nonresidents (NCNRs), and it has an entirely different estate and gift tax regime for NCNRs, creating traps for the unwary cross-border client.
7 minute read

New York Law Journal

Natural Disasters and Tax Consequences: Individuals and Businesses Take Note

The IRS has already noted 14 federal disasters in 2023—including tornados, mudslides, winter storms, severe rains and flooding. When this happens, there are tax consequences to individuals and businesses, writes contributor Sidney Kess.
8 minute read

New York Law Journal

Protecting the Environmental Protectors: New Guidance on Conservation Easements

The enactment of the new conservation easement law adds further restrictions to an area of the tax law that was already rife with potential pitfalls. But on the positive side, the new IRS safe harbor language provides some taxpayers who may have deficient conservation easements with a unique but short-lived opportunity to correct those mistakes.
5 minute read

New York Law Journal

Specialty Property: The Cost Approach in Estimating Value

In General In a condemnation case, real estate is valued as if it is free and clear of all leases, mortgages or encumbrances. It is a fair market valuation.…
7 minute read

Texas Lawyer

Tax Consulting Law Firm Wins Jurisdiction Fight, But $2.75M 'Assignment' Worthless

Texas common law has long recognized that when a cause of action is assigned, the assignee may sue either in its name or in the name of its assignor, the Third District Court of Appeals found.
3 minute read

New York Law Journal

Administration's Proposals Affecting Charities and Donors

Among the Treasury's 224-page "Green Book" proposals that would affect federal income, gift and estate taxes, I highlight two among the charitable proposals: (1) Charitable Lead Annuity Trusts (CLATs), and (2) Private Foundation transfers to Donor Advised Funds.
7 minute read

New Jersey Law Journal

With No Waiver, Are Residential Borrowers Entitled to a Credit Against Interest for Taxes Paid?

It is this article's thesis that Rosenbaum was wrongly decided: that the credit, unless waived, is still viable. Simply put, why would the Legislature afford borrowers a credit against interest payable on their mortgages that was inapplicable to all mortgages?
8 minute read

New York Law Journal

Taxing the Donor Upon the Sale of Donated Shares: 'Estate of Hoensheid'

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."
10 minute read

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