Taft Stettinius & Hollister LLP | USA | 26 Feb 2024
Since the beginning of tax time, the key distinction between a partnership and a corporation has been its ability to “pass-through” U.S. federal…
Taft Stettinius & Hollister LLP | USA | 14 Feb 2024
In the recent case of ES NPA Holding LLC v. Commissioner, the IRS argued that a profits interest can only be received tax-free by a service provider…
Taft Stettinius & Hollister LLP | USA | 12 Feb 2024
On February 7, 2024, the IRS announced it would continue its Pre-Examination Retirement Plan Compliance Program pilot with the Pre-Examination…
Taft Stettinius & Hollister LLP | USA | 30 Jan 2024
In a sale of the assets of a business (or a sale of stock that is treated as a sale of assets), the buyer and the seller must allocate the…
Taft Stettinius & Hollister LLP | USA | 16 Jan 2024
By making a Section “83(b) election,” an employee can defer until sale the tax associated with the receipt of restricted stock as well as convert…
Taft Stettinius & Hollister LLP | USA | 20 Dec 2023
Occasionally, parties to a transaction may determine after closing that they would have been better off not completing the transaction. This may…
Taft Stettinius & Hollister LLP | USA | 21 Nov 2023
The numerous technical requirements for qualifying and maintaining status as an S corporation create many opportunities for loss of S corporation…
Taft Stettinius & Hollister LLP | USA | 7 Nov 2023
S corporations provide valuable tax advantages for businesses with simple capital structures. Unfortunately, they are subject to stringent…
Taft Stettinius & Hollister LLP | USA | 23 Oct 2023
On Oct. 19, 2023, the Internal Revenue Service (IRS) announced a special withdrawal process for employers that previously submitted Employee…
Taft Stettinius & Hollister LLP | USA | 20 Oct 2023
On Oct. 19, 2023, applications opened for the Low-Income Communities Bonus Credit Program under Internal Revenue Code (Code) Section 48(e)…