News & Analysis as of

Investors Tax Court

Polsinelli

Real or Ruse? IRS’s New Settlement Initiative for Syndicated Conservation Easements

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The Internal Revenue Service (IRS) recently announced a new settlement initiative for Syndicated Conservation Easements (SCEs) that are currently under audit and have not reached the Tax Court. This new settlement initiative...more

Faegre Drinker Biddle & Reath LLP

Certain Insights on Important 2023 Tax Cases for Private Funds

The year just past, 2023, brought three significant U.S. Tax Court decisions that raise important ongoing tax considerations for private funds. These cases addressed: whether a non-U.S. credit fund had income effectively...more

Fox Rothschild LLP

Tax Court’s Decision on YA Global Investments Has Implications for Offshore Entities

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The Tax Court’s decision in YA Global Investments LP v. Commissioner in November sends a warning to the offshore banking, finance and equity investment industries: an offshore entity is engaged in U.S. trade or business when...more

Rivkin Radler LLP

Tax Planning for Business Owners Who Shortchange Themselves

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Something’s Wrong- Of late, a not insignificant number of the business owners with whom I’ve been working have raised some concern over whether they are financially prepared for the next stage of their lives. ...more

Proskauer - Tax Talks

Tax Court Provides Helpful Guidance on Requirements for Tax-Free Profits Interests

Proskauer - Tax Talks on

On May 3, 2023, the United States Tax Court held in ES NPA Holding, LLC v. Commissioner, T.C. Memo. 2023-55, that the taxpayer’s receipt of interests in a partnership in exchange for services rendered to the sole owner of the...more

Fox Rothschild LLP

The Presumption of Innocence Podcast: Episode 21 - Conservation Easement Donations: Tax Shelter or Charitable Contribution...

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“If it is a conservation easement and the people who are receiving the deduction are outside of family...the IRS assumption is that it's a tax shelter.” A backlog of conservation easement Tax Court cases and IRS audits are...more

Rivkin Radler LLP

Indirectly Held Profits Interests and Rev. Proc. 93-27

Rivkin Radler LLP on

At war with Russia in eastern Europe, a nascent competing world order, mass shootings and bank failures at home, questionable audit practices by the Big 4 . . . everywhere, debt ceilings and the risk of default, inflation,...more

Coblentz Patch Duffy & Bass

Distinguishing Investment and Business Expenses - Family Office Structuring After Lender

Structuring a family’s investment activities can be complex. Across assets, activities, relationships and the particular circumstances of each family member-investor, a family office will typically provide a spectrum of...more

McDermott Will & Emery

Huge Win for Refined Coal: DC Appeals Court Permits Tax Credits

McDermott Will & Emery on

On August 5, 2022, the US Court of Appeals for the District of Columbia Circuit upheld the US Tax Court’s bench opinion in favor of partners and investors in a refined coal business. The Internal Revenue Service (IRS) has...more

Cole Schotz

Tax Court Shuns Traditional Survey Derived Capitalization Rate Determinations and Champions Reliance Upon The Band of Investment...

Cole Schotz on

In a recently decided case 3 University Plaza SPE, LLC v. City of Hackensack 5002-2014, 1670-2015, 3553-2016, 1163-2017, 3768-2018, 12891-2019 – 3 University Plaza SPE LLC, et al. v. Hackensack City (njcourts.gov) concerning...more

Rivkin Radler LLP

Capital vs Ordinary Loss When An Investment Goes South

Rivkin Radler LLP on

Capital Loss- If the amount realized by a taxpayer upon the sale of a partnership interest to a third party is insufficient to restore to the taxpayer their adjusted basis for the interest – i.e., their unrecovered...more

Mintz

TechConnect - Your Law Firm Link to Industry News - September 2017

Mintz on

Letter from the Editors - Words are very powerful and the language we use often frames a discussion. For example, the term “shareholder activist” sounds like a consumer friendly person who has everyone’s best interests at...more

Morgan Lewis

Grecian Magnesite Mining: Impact on Investments by Non-US Investors in US Funds

Morgan Lewis on

US Tax Court decision may facilitate tax-efficient investment structures for non-US investors investing in US operating partnerships, directly or through investment funds....more

Cole Schotz

Tax Court Holds That Foreign Corporation’s Sale Of A Partnership Interest Not Taxable In US

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The US Tax Court recently held that a foreign corporation is not subject to US income tax on the sale of a partnership interest where the partnership conducts a US business. In so holding, the Tax Court rejected a 26 year...more

Locke Lord LLP

Recent U.S. Tax Court Case Reverses Long Held IRS Position Regarding Taxation of Sales of Partnership Interests by Foreign...

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Following the inauguration of the new administration in January 2017, many investors were anticipating the passage of a transformative tax reform bill at some point in 2017. Although legislative tax reform is seemingly...more

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