Tax

By NEO Law Group on August 18, 2019

Are you interested in joining a nonprofit board of directors? Serving as a board member of a nonprofit can be tremendously rewarding and valuable, both to the organization and to you. But there are some things to consider before you join. About You It’s important to be honest and introspective in carefully considering the following: Do you know and understand the legal responsibilities and expectations of a board member? Is your primary motivation for serving…

Disputing Tax

IRS Warns Cryptocurrency Holders to Report Transactions and Pay Taxes

By Elizabeth Julia Smith, Ellen Gilley & Kat Gregor on August 16, 2019

It is no secret that cryptocurrency holders are facing increased scrutiny by the IRS. In 2018, the agency announced a virtual currency compliance campaign that included outreach and examinations. As part of its latest sequence this summer, the IRS recently publicized that it has begun sending letters to cryptocurrency holders advising them of their reporting and payment obligations and warning that failure to properly report transactions or pay taxes owed might result in penalties or…

Current Developments in Business and International Taxation

Participation Exemption Temporary Regulations Issued By Treasury and Internal Revenue Service: Simply “Extraordinary”!!!

By Jerald David August on August 16, 2019

By Jerald David August, Chair, International Taxation and Wealth Planning Group The government recently issued temporary regulations under section 245A which provides a 100% dividends received deduction (DRD) for certain dividends received by a US corporation from a current for former controlled foreign corporation (CFC) defined in section 957. The provision is frequently referred to as the participation exemption which many countries have already had in place with respect to their domestic corporations in investing…

The Benefit of Benefits

Voluntary Closing Agreements— The Non-EPCRS Correction Program Webinar

By Scott E. Galbreath, J.D., LL.M (Tax) on August 16, 2019

Just a brief post to let you know that I will be presenting a webinar for the Western Pension and Benefits Council Governing Board titled Voluntary Closing Agreements–The Non-EPCRS Correction Program on August 21 at 10 am PST. I will discuss fixing plan issues that do not qualify for correction under the Employee Plans Correction Resolution System (EPCRS) through the Employee Plans Voluntary Closing Agreement Program, including the advantages and disadvantages of closing agreements. I will…

Legacy Advisors

29 GT New York Attorneys Listed in 2020 Edition of Best Lawyers in America, Including Barbara Kaplan as Lawyer of the Year

By Greenberg Traurig on August 16, 2019

The New York office of global law firm Greenberg Traurig, LLP has 29 attorneys listed in the 2020 edition of Best Lawyers in America. Additionally, Tax Practice Co-Chair Barbara Kaplan was named “Lawyer of the Year” for Litigation and Controversy in Tax. To read full press release, click here.…

Take Stock: Federal Policy Watch

Congress: Looking Ahead

By Michael Drobac, Amanda Armistead, Greg Walden, Casey Stokes & Lauren Stroupe on August 16, 2019

Hong Kong Human Rights and Democracy Act Amid ongoing protests in Hong Kong, Speaker Nancy Pelosi (D-CA) said this week that the House will move to take up the bicameral and bipartisan Hong Kong Human Rights and Democracy Act when it returns from recess. USTR to Hold Hearing on France’s Digital Services Tax On Monday, the Office of the USTR will hold a hearing on France’s digital services tax as part of its investigation into…

Nonprofit Law Blog

Nonprofit Tweets of the Week – 8/16/19

By NEO Law Group on August 16, 2019

Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “Against the backdrop of mounting evidence that the global economy is weakening, President Trump is caught between his desire to pursue the trade war with China he promised to win and his need to keep the economy humming as the 2020 election approaches.” NY Times “The Trump administration has…

SALT Insights

New Hampshire Passes Anti-Wayfair Remote Tax Legislation

By Michael Bowen & Emily Fiore on August 15, 2019

Most states impose sales or use tax on tangible personal property sold or consumed in the state. However, five states – Alaska, Delaware Montana, New Hampshire, and Oregon – do not impose such a tax. In its landmark South Dakota v. Wayfair decision, the U.S. Supreme Court ruled that out-of-state sellers can be required to collect and remit tax on sales into another state in which the seller had no physical presence. The response from…

Arkansas Tax & Incentives Update

Matthew Boch to Speak at National Business Institute Seminar on Arkansas Sales and Use Tax for Manufacturers

By Dover Dixon Horne PLLC on August 15, 2019

Dover Dixon Horne member Matt Boch, along with co-presenters Jim Saxton (Friday Eldredge & Clark) and Paul Gehring (Assistant Commissioner and Chief Counsel of the Department of Finance and Administration), will speak at the upcoming NBI seminar on Arkansas Sales and Use Tax for Manufacturers on September 11, 2019 in Little Rock, Arkansas. This seminar takes a focused look at the various sales and use tax issues that manufacturers face in what is arguably the…

Tax Blogs