Tag Archives: income tax

Posted on May 13, 2016 by

Like Kind Exchanges Alive and Well: An Update Attempts by the Obama administration to curtail or eliminate IRC § 1031 exchanges were decidedly unsuccessful. Based upon their pronouncements, neither Ms. Clinton nor Mr. Trump would be expected to attempt to … Continue reading →

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Private Letter Ruling Requests

Posted on February 18, 2015 by

I. Introduction Private letter rulings are in the nature of “advisory” rulings by the IRS concerning the tax implication of income or estate transactions contemplated by taxpayers. As stated in Rev. Proc. 2015-1, the IRS generally issues a letter ruling … Continue reading →

Posted in Federal Income Tax, Federal Tax Litigation, IRS, IRS Rulings & Regulations | Tagged , , , , , , , , , ,

From Washington & Albany — Washington: New Taxes Arrive; Governor Cuomo: NY Taxes Too High

Posted on February 16, 2014 by

I.         From Washington A rainbow of new federal income taxes arrived on January 1, 2014, led by the new 3.8 percent “Medicare” tax imposed by IRC §1411. Although enacted as part of the health care legislation of President Obama, … Continue reading →

Posted in From Washington, NYS Dept. of Tax'n & Finance, NYS Tax Litigation | Tagged , , , , , , , , , , , , , , ,

Summary of Tax Changes Under American Taxpayer Relief Act of 2012

Posted on October 10, 2013 by

           (1)    Ordinary Income.         Beginning in the 2013 taxable year, single taxpayers with ordinary income over $400,000 and married taxpayers filing jointly whose income exceeds $450,000 will be subject to a new higher 39.6 percent tax rate. [These … Continue reading →

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Second Term Blues Visit President Obama

Posted on October 10, 2013 by

Congress Grants One Year Reprieve For Affordable Care Payments President Obama has suffered a precipitous decline in his approval rating since late April, when that indicator was at 50 percent. Today, Mr. Obama enjoys the approval of only 45 percent … Continue reading →

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Recent IRS Developments — October 2031

Posted on October 10, 2013 by

I.  Taxpayer Advocate Issues 2014 Report National Taxpayer Advocate Nina Olson recently issued a report detailing the issues on which the Taxpayer Advocate Service (TAS) will focus during the fiscal 2014 tax year. IR-2013-63. The Taxpayer Advocate is required by … Continue reading →

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Update on 11th Annual Tax Symposium in November

Posted on October 6, 2013 by

Like Kind Exchanges of Real Estate Under IRC §1031 (TAX CPE) (CLE); Course 3047; Lecturer: David L. Silverman, J.D., LL.M. (Taxation) The Section 1031 like-kind exchange is a powerful tax-deferral technique that has, for the most part, escaped Congressional scrutiny. … Continue reading →

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