The U.S. Supreme Court today overruled the longstanding Chevron doctrine that for 40 years largely deferred to federal agency regulations in interpreting ambiguities in the law. The landmark decision in Loper Bright Enterprises et al. v. Raimondo, Secretary of Commerce, et al. addressed appeals in Loper Bright Enterprises v. Raimondo and in
In a National Law Journal article published on June 26, 2024, Jay R. Nanavati and Nikhil Lahiri explain how a recent privacy law surrounding private jet flights will not prevent the IRS from following through on its pledge to scrutinize private aircraft usage by “large corporations, large partnerships, and high-income taxpayers.” As
“Superstar lawyers” “The best tax firm I know” NEW YORK (June 24, 2024) — Kostelanetz LLP has been recognized by The Legal 500 as a leading firm for tax controversy in the United States, and Caroline Ciraolo has been named a leading partner by the independent rankings agency for 2024.
Low Risk Claims to Be Paid Beginning This Month The Internal Revenue Service (IRS) announced today that it would resume processing “low risk” Employee Retention Credit (ERC) claims, ending a moratorium on processing ERC claims that has been in place since last September. The announcement came as part of a
Justices Avoid Addressing the Limits of Congress’s Authority to Tax Income Under the Sixteenth Amendment The U.S. Supreme Court in Charles G. Moore v. United States (No. 22-800), by a 7-2 vote, rejected a constitutional challenge to the Mandatory Repatriation Tax (“MRT”) imposed by IRC 965. The MRT is a
On the heels of a significant boost in funding brought by the August 2022 passage of the Inflation Reduction Act (“IRA”), the IRS this week announced new efforts to combat what it sees as abusive transactions and strategies utilized by businesses that are taxed as partnerships. This is another IRS
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Bryan C. Skarlatos and Todd Welty spoke with Law360 for an article titled “Kostelanetz Partners Talk Benefits Of Atlanta Tax Firm Tie-Up” on the origins of the combination between Kostelanetz LLP and WELTY PC and its benefits. Bryan and Todd answered questions on how the combination came about, the benefits of the
“Big Law Quality Services in a Boutique Setting” “An Expert Tax Boutique” NEW YORK (June 11, 2024) —Kostelanetz LLP and five partners have been recognized by Chambers and Partners in its 2024 USA Guide in the areas of tax controversy, tax fraud, tax law, and white-collar defense and government investigations. Chambers this year has
On May 30, 2024, Bryan Skarlatos presented on “Recent United States Initiatives to Enforce Integrity” with Ian M. Comisky of Fox Rothschild LLP as part of Lawline’s CLE programming. Description: The Corporate Transparency Act was enacted as part of the Anti-Money Laundering Act of 2020. In particular, 31 U.S.C. § 5336
