Partnership profits interests are a very tax-efficient way to provide equity-based compensation to service providers without cash cost. However, they work best if they can be … more

It can be expensive to complete a major corporate transaction, and the parties usually wish to get the best possible tax treatment for their transaction costs.
Some transaction costs can be … more

The recently-passed CARES Act contained many tax-related provisions designed to put cash in the pockets of businesses. An important one is the ability to “carry back” net operating losses (“NOLs”) to claim refunds of taxes paid with respect to earlier years’ income. This can be a big benefit for businesses … more

In an effort to mitigate problems caused by the current COVID-19 pandemic, the U.S. Treasury Secretary has announced that the IRS will permit delays in making certain tax payments. Some states are … more

The IRS allows very significant tax benefits for partnership “profits interests” issued as compensation for services. It allows those benefits without requiring any special election, and in fact has … more

It is well understood that when interests in a partnership are sold the sellers recognize income. Other partnership transactions can have the effect of making
partners wealthier or less wealthy, whether inadvertently or… more

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