Tax Section
NONTAXABILITY OF WORKING CONDITION FRINGE BENEFITS IN LIGHT OF THE SUSPENSION OF MISCELLANEOUS ITEMIZED DEDUCTIONS
On November 7, 2019, John Hodnette posted an article on the Tax Section’s blog regarding employee educational fringe benefits. As noted in the article,…
FEDERAL INCOME TAX UPDATE
This is the first of two installments of this article. The second installment will soon be posted on the Tax Section blog. I. Damages for Emotional…
S Corporations: Dealing with Accumulated Earnings and Profits
Please send articles for the Tax Section blog to: Herman Spence at [email protected]. By Kerri L.S. Mast C corporation income is generally subject…
Pro Bono Opportunity
Are you looking for a pro bono opportunity where you can use your tax expertise? The NCBA Tax Section is looking for tax attorneys to train selected…
Employee Educational Fringe Benefits Under the 2017 Tax Act
One of the most appealing benefits of working for a university is an educational assistance program. Free or discounted college education is extremely…
The Importance of Purchase Price Allocations in Asset Acquisitions
The maxim “don’t let the tax tail wag the business dog” is often bandied about in the business world. Tax attorneys know, however, there are times,…
Don’t Get Caught Holding the Bag: Embezzlement Repayments and NOL Limitations
The net operating loss (“NOL”) rules in Section 172 are complex. A revisit every few years is beneficial, particularly given the 2017 Tax Act modified…
2017 Tax Act’s $11.2 Million Estate, Gift, and GST Tax Exemption Will Expire In 2025
The Tax Cuts and Jobs Act of 2017 doubled the unified exemption for the estate, gift, and GST taxes from about $5.6 million to about $11.2 million (adjusted…
Tricky Rules For Amending Tax Returns
Amending returns can cause clients and practitioners needless anxiety if they do not fully understand the applicable rules. This short article describes…
The Ricky Ricardo Tax: Taxation of Marital Transfers to Non-Citizen Spouses
“I Love Lucy,” running originally from 1957 to 1960, exists in the collective memory of multiple generations of Americans as one of our most iconic…