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Akerman Adds Ex-DOJ Tax Atty From Chamberlain Hrdlicka

by usoftax_admin | Feb 4, 2025 | Tax News

Akerman LLP has brought on a former Internal Revenue Service and U.S. Department of Justice trial attorney from Chamberlain Hrdlicka White Williams & Aughtry PC as a tax partner in Atlanta.

Kostelanetz Adds Tax Pro From Lowenstein Sandler

by usoftax_admin | Feb 4, 2025 | Tax News

Kostelanetz LLP said a former partner at Lowenstein Sandler LLP has joined the firm as a partner in the Washington, D.C., office.

Movie Review, Memorabilia Income Not Tax-Free, Court Says

by usoftax_admin | Feb 4, 2025 | Tax News

A Georgia man must pay self-employment taxes on the over $50,000 he generated from writing freelance movie reviews and selling movie memorabilia, the U.S. Tax Court ruled Tuesday, also saying he must pay an associated accuracy-related penalty.

IRS Basis-Shifting Rule Poses Notable Reporting Obligations

by usoftax_admin | Feb 4, 2025 | Tax News

While the IRS’ recently finalized rule requiring partnerships to report certain related-party basis adjustment transactions is narrower than originally proposed, taxpayers and their advisers will still need to comb through myriad transactions to comply, say attorneys...

3rd Circ. Urged To Nix Tax On $191M In Family Pharma Feud

by usoftax_admin | Feb 4, 2025 | Tax News

A pharmaceutical company’s $191 million payment settling a family feud over shares of the business did not include imputed interest triggering higher taxes as the U.S. government claims, a trust for family members who received the money told the Third...

Tomato Paste Cos. Ask 9th Circ. To Revisit Deduction Denial

by usoftax_admin | Feb 4, 2025 | Tax News

A pair of tomato paste producers have requested that the Ninth Circuit revisit its decision denying them a tax deduction for facility upgrades, arguing that a panel’s majority ruling in December conflicted with the appellate court’s established...
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