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Employers must file protective claims for refund by April 15, 2014 for FICA tax paid on severance pay

  • Kilpatrick Townsend & Stockton LLP
  • -
  • USA
  • -
  • February 25 2014

Sometime this summer, the Supreme Court is expected to issue its ruling in U.S. v. Quality Stores. In this case, the Supreme Court reviewed the Sixth

Implications of FATCA for Cayman Islands liquidators

  • Carey Olsen
  • -
  • Cayman Islands, USA
  • -
  • February 28 2014

FATCA or the Foreign Account Tax Compliance Act, is actually a section of the Hiring Incentives to Restore Employment (HIRE) Act passed into United

Delinquent property tax collection: foreclosure may be vulnerable

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • September 25 2012

Wisconsin has a strict tax foreclosure procedure in which the tax authority effectively obtains the property without any public or competitive bidding in satisfaction of the delinquent tax bill

Supreme Court decides United States v. Quality Stores, Inc.

  • Faegre Baker Daniels
  • -
  • USA
  • -
  • March 25 2014

On March 24, 2014, the U.S. Supreme Court issued its decision in United States v. Quality Stores, Inc.,No. 12-1408, holding that severance payments

Bankruptcy taxation

  • Arnstein & Lehr
  • -
  • USA
  • -
  • August 10 2010

A separate taxable bankruptcy estate is created when an individual debtor files either a Chapter 7 or Chapter 11 Petition

Lenders should consider suggesting bankruptcy to borrowers following the sale of delinquent taxes on a principal residence

  • Dykema Gossett PLLC
  • -
  • USA
  • -
  • January 31 2014

The Seventh Circuit Court of Appeals recently held that a plan under chapter 13 of the Bankruptcy Code can modify the rights of a purchaser of

Reorganization plan qualifies for bankruptcy exception to NOL limitation rules

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • April 30 2013

In another recent private letter ruling, the IRS ruled that an ownership change pursuant to a bankruptcy reorganization plan qualified for an

Tax sharing agreements in bankruptcy a tale of two jurisdictions

  • Kramer Levin Naftalis & Frankel LLP
  • -
  • USA
  • -
  • August 28 2013

Often times, tax planning can be an important part of assessing an estate's available assets and preserving the value of such assets for the benefit

Dissent highlights disturbing potential for increasing escrow holder policing and disclosure obligations

  • Miller Starr Regalia
  • -
  • USA
  • -
  • March 4 2014

A new decision in Ash v. North American Title Co. holds that (1) contract damages based upon a bankruptcy were not foreseeable, and (2) an escrow

Sixth Circuit holds that supplemental unemployment compensation benefits are not ‘wages’ subject to FICA taxation

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • September 10 2012

In an important recent decision, United States v Quality Stores, Inc., et al., in which Pepper represented the prevailing party, the U.S. Court of Appeals for the Sixth Circuit held that supplemental unemployment compensation benefits (SUB payments) paid by a bankrupt company to its former employees were not wages subject to taxation under the Federal Insurance Contributions Act (FICA