Megan Brackney, Jacob Paikin, and Rasheena Reid wrote an article titled “Advising Healthcare and Hospitality REITs through Increasing Scrutiny” on the increasing tax enforcement against real estate investment trusts (REITs) for The CPA Journal. Regulators have expressed concern that REITs in the healthcare and hospitality
Counsel Andy Weiner wrote an article for Forbes titled “The Supreme Court’s New Standard For Challenging Tax Regulations.” The article notes that the “Supreme Court is reshaping the role of the administrative state in the federal government,” most notably, through its 2024 decision in Loper
Counsel Andy Weiner wrote an article for Forbes titled “Why Filing A Tax Return Is More Important Than Paying Tax.” In the piece, Andy details the history of the US income tax system imposing separate obligations on taxpayers to file a tax return and pay
By Abigail Burke and Malena Solin The CPA Journal November 2024 In a recent article for The CPA Journal, Abigail Burke and Malena Solin address the U.S. Supreme Court’s landmark 2023-2024 term, which included two cases with significant implications for future litigation over executive branch
Kostelanetz LLP Partner Megan L. Brackney is calling for an end to IRS foreign gift penalties, arguing that the current law is inefficient and punitive to lower- and middle-income taxpayers with foreign relatives. In an op-ed for Bloomberg Tax, Ms. Brackney addresses concerns raised by
by Robert McLeod The CPA Journal May/June 2024 To reduce unnecessary costs, businesses strive to minimize their tax liabilities. Employment taxes, particularly the employer’s share of Social Security and Medicare taxes under FICA, may represent a significant portion of a company’s tax burden. On the
By Christopher M. Ferguson Bloomberg Tax August 1, 2024 The US Supreme Court’s ruling overturning Chevron deference, as well as the IRS’s own policies, suggest the IRS may be employing a harsh and legally unsustainable standard in assessing the merits of employee retention credit claims. If true,
By Daniel C. Davidson ABA White Collar Crime Committee Newsletter July 2024 Earlier this year, the Department of Justice (“DOJ”) and Federal Trade Commission (“FTC”) jointly announced updated language in the agencies’ documents requests (such as preservation letters and grand jury subpoenas) “to address the
In Charles G. Moore v. United States (No. 22-800), petitioners challenged Congress’s authority to tax unrealized gains under the Sixteenth Amendment. The tax at issue was the Mandatory Repatriation Tax (MRT), which is a one-time tax on accumulated but undistributed foreign earnings that was included in the
Many nonprofits that were affected by the COVID-19 pandemic have financially benefited from claiming the Employee Retention Credit (ERC). But the ERC has become the source of considerable notoriety over the last several years and is now the focus of significant government enforcement activity. Originally
