Federal Taxation

  • Altera: Legislative Intent Within Administrative Bounds

    By:
    Michael I. Billet, JD, CPA
    |
    Oct 1, 2018

    Altera Corporation & Subsidiaries (Altera Corp.) is battling the IRS in court over the validity of a federal income tax regulation that concerns Section 482 of the Internal Revenue Code (IRC).  

  • A Forensic Guide to Finding Cryptocurrency in Divorce Litigation

    By:
    Mark DiMichael, CPA, CFF, ABV, CFE and Katerina Gaebel, CPA
    |
    Sep 1, 2018
    In recent years, awareness and use of Bitcoin and cryptocurrency has risen dramatically. Cryptocurrency transactions are fast, global, decentralized, secure, and irreversible. Although cryptocurrency and blockchain technology have the ability to revolutionize commerce, cryptocurrency’s anonymous nature has made it a haven for illicit activity.  This is because while cryptocurrency transactions are all publicly viewable on a “blockchain,” the individual participants of each transaction cannot be easily determined. 
  • When Opportunity Knocks to Defer Tax on Gains: “Qualified Opportunity Funds"

    By:
    Kevin Matz, Esq., CPA, LLM (taxation)
    |
    Aug 1, 2018
    The 2017 Tax Cuts and Jobs Act includes a new tax incentive provision that is intended to promote investment in economically distressed communities, referred to as “Opportunity Zones.
  • Post-TCJA Considerations for Exempt Organizations

    By:
    Catherine Petercsak, CPA, and Kerri N. Bogda, CPA
    |
    Jul 1, 2018

    On Dec. 22, 2017, President Donald Trump signed the Tax Cut and Jobs Act (the Act) into law. The Act is the most comprehensive change to the U.S. tax code since 1986. In some way, the new rules affect almost every individual, business, and tax-exempt entity. Most of the provisions of the Act are effective for tax years beginning after Dec. 31, 2017.

  • Accountants and Divorce Attorneys: A Marriage Made in Congress

    By:
    Joseph A. DeMarco, JD
    |
    Jul 1, 2018
    As divorce attorneys seek to navigate the impact of the Tax Cuts and Jobs Act (“TCJA”) on divorce cases, one thing appears clear: Effective advocacy for matrimonial clients will require greater reliance on accounting professionals. 
  • Rising Interest Rates are an Opportunity to Deduct Capital Loss Carryovers

    By:
    Thomas J. Boczar and Jeff Markowski
    |
    Jun 1, 2018

    Some companies currently face two concurrent challenges—first, how to accelerate the utilization of otherwise non-deductible capital loss carryovers for tax purposes and second, how to guard against the impact of rising interest rates.

  • Does Lender Management Provide Family Offices with a Roadmap for Obtaining an IRC section 162 Trade or Business Expense Deduction in Connection with Providing Investment Management Services?

    By:
    Kevin Matz, Esq., CPA, LLM (taxation)
    |
    Jun 1, 2018

    Lender Management, LLC v. Commissioner of Internal Revenue provides family offices with a potential roadmap for obtaining trade or business expense deductions under IRC section 162 in connection with rendering investment management services.

 

 
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