Resources

The IRS issued Notice 2016-19 (here), effective February 11, 2016. The notice extends the filing deadline for the new Form 8971 to March 31, 2016.  As discussed in last week’s post, Form 8971 implements basis...

Conventional wisdom is that the U.S. income taxation of partnerships is advantageous compared to the taxation of corporations for many reasons, one of which is that it is often easier to contribute “built-in” gain...

On Jan. 29, 2016, the Internal Revenue Service released Form 8971, “Information Regarding Beneficiaries Acquiring Property From a Decedent” (here) with instructions (here). The form must be filed by any estate with an...

The 5th Circuit last week vacated the fraud convictions of Mike Baker and Mike Gluk. Mr. Baker was the CEO of ArthroCare Corp., a publicly traded company, and Mr. Gluk was the CFO. The government accused them of violating...

 Often, shareholders of small and midsized corporations who also serve as the governing persons of those corporations must devote so much of their time and energy to business operations that corporate formalities may be...