Under new tax law enacted in 2017, opportunity zone investing can yield significant tax benefits in mergers and acquisitions. However, the constraints imposed by the law may… more

When a corporation issues stock, stock options, and similar rights to employees, the employees may find themselves becoming taxable on the rights before the rights actually… more

An accounting method doesn’t determine whether a transaction results in taxable income or a deduction: it determines when that income or deduction must be reported. Accounting method changes can… more

New partnership audit procures enacted in 2015 are taking effect in 2018. They are procedurally complicated, but more importantly, they can allow the IRS to collect tax deficiencies from… more

In some circumstances a transferee of assets can become responsible for the transferor’s tax obligations. Transferee liability is unusual in the case of income tax obligations, but it can… more

Both corporations and shareholders understand that corporate distributions can create taxable income for the shareholders. An intentional taxable distribution usually does not cause a… more

Internet sellers have long enjoyed an exemption from the requirement to collect sales or use taxes on interstate sales. That exemption was supported by Supreme Court precedent stating that… more

Distinguishing between independent contractors and employees has always been a difficult, fact-based exercise. While it created uncertainty for businesses, for the most part service recipients felt … more

The law allowing shareholders to exclude from taxable income certain gains from the sale of “small business” stock is not new, but it has taken on new relevance. Previously, a start-up business had to make significant … more

One question seems to be on everyone’s mind since the new tax law was passed late last year: should I switch to a taxable corporation? This note will not answer that question. However, through use of an example, it will … more

The private equity “carried interest” rule was very much at risk in the negotiations resulting in the recent tax bill. However, it survived with modifications. The modifications probably will affect … more

Usually, new tax legislation includes “transition rules” protecting taxpayers that relied on the old law from being adversely affected by the new law. The recently-enacted federal income tax bill includes … more

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