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New York Law Journal

NY Top Court Asked to Eliminate Financial Barrier for Corporations to Dispute Tax Bills

Appellate lawyers from Harris Beach say that this pre-payment requirement is unfair to corporations , and they're asking the New York Court of Appeals to accept the case, and then declare the legislative requirement unconstitutional.
3 minute read

The Legal Intelligencer

Understanding the One-Stop-Shop Rule: Navigating S Corporation Terminations and Revocations

What business owners often fail to realize is that the initial S Election kicks off a litany of compliance obligations that S Corporations must continually observe, supplemented by volumes of Treasury Regulations and Revenue Rulings interpreting and, in several instances, expanding these compliance rules.
6 minute read

New York Law Journal

Politics From the Pulpit: Can a Church Really Say That?

"Religious organizations and leaders are faced with the same legal limitations as their secular tax-exempt counterparts," write Barry Black, Christopher Byrnes and Hillary Byrnes.
11 minute read

New York Law Journal

Caring for the Closely Held Business: Zeroing Out Profits

"Adopting a decision structure which allows for consideration of an independent voice and credible comparability studies should go a long way to building the necessary record," writes Jeffrey A. Galant.
8 minute read

New York Law Journal

IRS Targets Related-Party Basis Shifting

On June 17, 2024, the IRS released Notice 2024-54, which states that the IRS and the Treasury Department intend to issue proposed regulations relating to partnership basis adjustments resulting from transactions between related parties. The proposed regulations would introduce massive additional complexity to an area of the tax law that is already complicated.
6 minute read

New York Law Journal

Direct IRA Transfers to Charity: Smart Philanthropy

"Now is the time to tell clients about direct transfers from IRAs," writes Conrad Teitell.
6 minute read

New York Law Journal

Amassing Super-Wealth With Illusions of Immortality

Law Journal columnist and former Court of Appeals Judge Joseph W. Bellacosa reflects on two books that push a bottom-line case for a transformation of the "top dog" highest tier tax structure, a provocative third-rail political proposition.
6 minute read

The Legal Intelligencer

People in the News—Aug. 22, 2024—Capehart Scatchard, Duane Morris

To support local children in getting ready for the new school year, attorneys and staff at Capehart Scatchard have been donating school supplies and monetary gifts over the past few weeks to benefit K-12 students in Legacy Treatment Services' residential programs.
3 minute read

National Law Journal

Another Weil Partner Heads to Paul Hastings, as McGuireWoods Hires Former SEC Crypto Leader

Daniel Nicholas is at least the fourth Weil lawyer to join Paul Hastings in recent months.
3 minute read

New York Law Journal

Coordination of ESOP Benefits With Installment Method

The conclusion of the court that the installment sale rules continued to apply where a section 1042 election had been made is surprising and it remains to be seen whether the Commissioner will contest this result.
9 minute read

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