Tax Law News and Insights

Recently, there seems to be some confusion regarding section 643(b) of the Internal Revenue Code of 1986, as amended (the "Code"), and its application to trusts. Indeed, that provision—particularly to those not well-versed in federal trust taxation—can confound many. This article seeks to dispel some of the complexity surrounding section 643(b)....

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On December 27, 2022, the US Treasury Department and the Internal Revenue Service ("IRS") issued Notice 2023-2 (the "Notice"), which provides taxpayers interim guidance (until regulations are issued) on how the new 1% excise tax on stock-buybacks will be imposed and administered. The new 1% excise tax was enacted last summer...

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If you run or work for a not-for-profit organization or religious corporation that owns real property in New York City and Nassau County, you are most likely receiving a property tax exemption benefit that exempts a parcel or parcels of real property from paying property taxes to the municipality. Please...

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