March 12, 2024 BACKGROUND The U.S. Treasury Department this afternoon released the “Green Book” [PDF 2 MB]. Treasury’s “General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals” (“Budget Proposal”) is a 256-page explanation of the tax proposals in the Biden Administration’s FY 2025 budget, also released and transmitted to Congress. Most of the administration’s revenue proposals …
Federal Court Strikes Down the Corporate Transparency Act as Unconstitutional March 4, 2024 On March 1, 2024, the federal judge presiding over the lone case testing the validity of the Corporate Transparency Act (CTA) struck down the CTA as unconstitutional. As our recent Client Update has explained, Congress imposed mandatory reporting obligations on certain companies …
FEDERAL COURT STRIKES DOWN CORPORATE TRANSPARENCY ACT AS UNCONSTITUTIONAL Read More »
Exeter Prize 2023 Winners We are happy to announce the winners of the 2023 Exeter Prize for the best paper published in the previous calendar year in a peer-reviewed journal in the fields of Experimental Economics, Behavioural Economics and Decision Theory. The winners are Kirby (Kempe) Nielsen (Caltech) and John Rehbeck (Ohio State University) for their paper “When choices are …
Karen Rezikyan, CPA Mr. Rezikyan joins us from the national CPA firm, Frankel Loughran Starr & Vallone LLP’s, where he was a Tax Manager in their high-net-worth tax department. Prior, he was an international tax accountant with Brunton, Strachan & Khan, CPA in Boca Raton, FL. Mr. Rezikyan’s background is concentrated in tax compliance and …
September 11, 2023 Dear Clients and Friends: The Grantor Trust Debate – Does the Death of the Grantor Cause a Cost Basis Adjustment to Fair Market Value? – This note is sent in advance of our Client Update, that you will receive in October. The purpose of this alert is to address some developments associated with …
March 20, 2023 Dear Clients and Friends: Investing is a unique pursuit and one that depends on the goals of the investor. There are many investments to choose from, but no matter what they are, there are risks that should always be considered. Each investment carries its own risks and risks differ depending on the investment …
March 20, 2023 President Biden’s 2024 Budget Proposals for Tax Reform – A Debt Ceiling Showdown is in the Works – President Biden’s tax reform measures are intended to tax the wealthy and corporations to cover the cost of various Democrat Party initiatives, such as increased spending on affordable housing, funding preschool initiatives, Pell grants …
March 24, 2022 Dear Clients and Friends: Florida has recently enacted legislation in an attempt to gain the tax advantages of “community property,” which is a form of ownership between spouses common in states from Texas and further West. The tax advantage relates to securing a 100% cost basis increase in assets owned by spouses …
Dear Clients and Friends: There has been a reprieve from the impact of tax reform as a result of Senator Manchin’s “no” vote, but unfortunately it is likely short lived. The Senate is debating the Build Back Better tax and spending bill promoted by President Biden, with any changes necessitating that the Bill will be …
Dear Clients and Friends: Estate planning and tax law commentators around the country are grappling with ambiguous versions of the House bill passed on November 19. See our Alert of November 22: https://www.jckempe.com/house-bill-brings-continued-uncertainty/ . These ambiguities have been driven by incorrect versions of the bill appearing on Congressional and legislative tracking websites, such as Congress.gov …
