Tax Law News and Insights

The federal gift, estate, and generation-skipping transfer (GST) tax exemptions and the annual exclusion from gift tax are historically high, due to a temporary increase under the Tax Cuts and Jobs Act. However, absent the passage of further legislation, the regulations that elevated the exemptions are set to expire at...

Read More

"Will San Francisco survive?" asked the Salt Lake Tribune. It was 1906 and the city had been largely destroyed by a major earthquake and subsequent fire. Over a century later, plenty of people are asking the same question about the city, and indeed the wider state of California. The naysayers...

Read More

On Nov. 28, 2023, the United States Tax Court issued an opinion with respect to competing motions for summary judgment in the case of Soroban Capital Partners LP v. Commissioner1, addressing the US federal self-employment tax liability of limited partners in a state law limited partnership. The Tax Court denied Soroban's motion...

Read More