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Daily Report Online

Akerman Grows Tax Practice in Atlanta With Partner Pair From Chamberlain Hrdlicka

"There is no end in sight to Atlanta's potential, solidifying its status as a center of job growth and innovation," said office managing partner Jason Lichtstein.
4 minute read

The American Lawyer

Attorneys May Be on the Hook for Advocating Transactions Deemed 'Abusive' by Pending IRS Rule

New regulations casting a closer eye on "basis shifting transactions" could be neutered by the Supreme Court's recent ruling overturning the "Chevron" doctrine.
7 minute read

New York Law Journal

Tax Company Exactera Sues Ex-CEO, Alleging Harassing Litigation

Founder and former CEO David Scherer allegedly threatened to file weekly shareholder derivative actions until his demands were met.
3 minute read

New York Law Journal

Planning Ahead for Tax Liabilities

A noteworthy aspect of such planning, and the focus of this article, is the benefit, if any, of planning in advance for the relief from certain federal income tax liabilities potentially available to a married couple who reside together.
11 minute read

Texas Lawyer

Nelson Mullins Adds Tax Controversy Team from Chamberlain Hrdlicka in Houston

With the nine Chamberlain, Hrdlicka, White, Williams & Aughtry tax controversy lawyers who joined in Houston, Nelson Mullins Riley & Scarborough has grown the new office to 25 lawyers.
4 minute read

Litigation Daily

Litigators of the Week: Eliciting a Mea Culpa From the IRS For Citadel Founder Over Leaked Tax Records

After William Burck, AJ Merton and Peter Fountain of Quinn Emanuel sued the Internal Revenue Service on behalf of billionaire investor Ken Griffin, the agency this week apologized to him and thousands of others whose tax information was leaked to the press by a contractor.
10 minute read

National Law Journal

FAA Privacy Law for Private Jets Won't Stop Taylor and Elon From Popping Up on IRS's Radar

Section 803 of the FAA Reauthorization Act of 2024, signed into law last month, requires the FAA to establish "a process by which, upon request of a private aircraft owner or operator, the administrator withholds the registration number and other similar identifiable data or information ... for the noncommercial flights of the owner or operator."
7 minute read

New York Law Journal

Strategic Estate Planning Before 2026 BEA Change Can Protect Taxpayer Assets from Gift and Estate Tax

In 2017, Congress enacted the Tax Cuts and Jobs Act, doubling the estate and gift tax exemption. This increase is set to expire on Jan. 1, 2026, reverting to pre-TCJA levels. Taxpayers should understand strategies to take advantage of the increased exemption before it expires to shield their assets from future gift and estate taxes. Stephen L. Ferszt, chair of Olshan Frome Wolosky's Employee Benefits Practice discusses the complex landscape of estate planning and the critical decisions taxpayers need to make before the BEA rollback takes effect.
5 minute read

New York Law Journal

Unpacking ANNY, NYC's New Affordable Housing Tax Exemption Program

After two long years since the "lapse" of New York's 421-a program, real estate developers may finally be able to breathe a sigh of relief, as the new ANNY program will bring many of the same real property tax benefits for providing affordable housing.
7 minute read

New York Law Journal

Stretching IRA Payments for Heirs: Using Charitable Remainder Unitrusts

The SECURE Act—starting in 2020— killed the stretch IRA for most heirs. Until that legislation, an heir could generally have required minimum distributions stretched over his or her life expectancy. And that minimized taxes—plus; the assets in the heir's IRA grew tax-free until withdrawn.
5 minute read

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