Events & Publications
- May 07, 2020
- Publications
The IRS recently issued a notice specifying that taxpayers that receive a loan under the CARES Act’s Paycheck Protection Program may not deduct business expenses funded with PPP loan proceeds to the extent the PPP loan is forgiven.
- Apr 20, 2020
- Publications
As a result of the COVID-19 pandemic, the 30-day period for making an Internal Revenue Code Section 83(b) election with respect to grants of restricted property has been extended to July 15, 2020.
- Mar 27, 2020
- Publications
The CARES Act makes a number of significant changes to the federal income taxation of both individual taxpayers and businesses that are generally intended to provide near-term liquidity and economic relief.
Robert Holo has joined the firm as a partner in the Tax Department, resident in the New York office.
- Mar 22, 2020
- Publications
On March 20, the Internal Revenue Service issued Notice 2020 18 postponing the April 15 federal income tax payment and tax return deadline to July 15, 2020. The Notice supersedes the relief previously issued in Notice 2020-17…
- Mar 18, 2020
- Publications
On March 18, the IRS announced that individual taxpayers would be allowed to defer up to $1 million and corporations would be allowed to defer $10 million of federal income tax payments (including federal estimated income tax…
Tax partner Jeffrey Samuels will speak on a panel at the Tax Executives Institute’s 2019 Mergers and Acquisitions seminar.
- Oct 17, 2019
- Publications
The IRS and the Department of the Treasury recently issued Revenue Procedure 2019-40 and proposed regulations that modestly narrow the implications of the 2017 repeal of Section 958(b)(4) of the U.S. Internal Revenue Code.
- Oct 15, 2019
- Publications
The CFTC, the SEC and FinCen recently issued a joint statement reminding those engaged in activities involving digital assets of their anti-money laundering and counter-terrorist funding obligations under the Bank Secrecy Act
- Sep 12, 2019
- Publications
On Monday, September 9, 2019, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) released proposed regulations (the “Proposed Regulations”) under Section 382 of the U.S. Internal Revenue Code of 1986, …
Corporate partner Udi Grofman, real estate partner Harris Freidus and tax partner David Mayo will lead a one-hour Practising Law Institute briefing, “Real / Hard Asset Funds: Real Estate and Infrastructure.”
- Jun 20, 2019
- Publications
The IRS and Treasury recently released proposed and final regulations that, among other things, change the way income inclusions work under the Subpart F and GILRI rules with respect to foreign corporations that are CFCs owned by…
- May 29, 2019
- Publications
On May 22, 2019, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) released final regulations (the “Final Regulations”) under Section 956 of the U.S. Internal Revenue Code of 1986, as amended…
Paul, Weiss hosted its Annual Private Equity General Counsel CLE Program.
- Nov 01, 2018
- Publications
On October 31, 2018, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) released proposed regulations (the “Proposed Regulations”) under Section 956 of the U.S. Internal Revenue Code of 1986, as…
- Oct 23, 2018
- Publications
As part of the U.S. federal tax legislation enacted into law last year, Congress added provisions that provide tax benefits to encourage investments in designated low-income communities known as qualified opportunity zones (“QOZs”).
- Aug 24, 2018
- Publications
Recently-enacted Section 199A allows individuals, trusts and estates to deduct up to 20% of “qualified business income” from certain businesses operated in pass-through form (the “Section 199A Deduction”), and is intended to provide…
- Aug 24, 2018
- Publications
The Internal Revenue Service recently released Notice 2018-68, which provides initial guidance about the 2017 amendments to Internal Revenue Code Section 162(m).
Tax partner David Mayo spoke on a panel at Sandpiper Partners LLC’s program, “Challenges & Changes for Law Firms and Their Partners Under the Tax Act of 2017.”
- Jan 22, 2018
- Publications
A little-publicized provision of the tax law enacted last month bars companies from deducting one type of settlement as a business expense: settlement payments and associated attorneys’ fees related to sexual harassment or abuse where …
- Jan 03, 2018
- Publications
On December 22, President Trump signed Public Law No. 115-97, formerly known as the “Tax Cuts and Jobs Act” (the “Act”), into law. In this memorandum, we summarize key provisions of the Act, including those concerning individuals,…
Paul, Weiss announced that five new partners have been elected to the partnership, effective January 1, 2018: Yahonnes Cleary, Brian S. Grieve, Kyle J. Kimpler, Lindsay B. Parks and Ramy J. Wahbeh.
- Nov 14, 2017
- Publications
The Senate Finance Committee released its draft of the Tax Cuts and Jobs Act on November 9. The Senate’s initial tax reform proposal differs substantially from the House version. We compare the two proposals, and also describe…
- Nov 07, 2017
- Publications
On November 2, 2017, House Ways and Means Committee Chairman Kevin Brady (R-TX) released a comprehensive tax reform bill titled the “Tax Cuts and Jobs Act,” on November 3, 2017 Chairman Brady proposed an Amendment in the Nature of a…
- Oct 10, 2017
- Publications
The United States Department of the Treasury submitted its highly anticipated final report to President Trump announcing its plans to pare back eight tax regulations that it had previously identified in June of 2017 under Executive…
Employee benefits partner Larry Witdorchic will speak on a panel at the Practising Law Institute’s upcoming conference on 2017 Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings,…
- Mar 27, 2017
- Publications
In a 4-1 split decision in The Williams Cos., Inc. v. Energy Transfer Equity, L.P., et al., the Delaware Supreme Court affirmed the Court of Chancery’s decision permitting termination of a merger agreement by the acquirer based on the …
- Feb 15, 2017
- Publications
Real estate partner Mitch Berg and tax partner Scott Sontag
published a quarterly real estate column in the February 15 issue
of the New York Law Journal.
- Nov 08, 2016
- Publications
The IRS issued proposed regulations in August taking aim at
valuation discounts with respect to closely-held interests for
gift, estate and generation-skipping transfer tax purposes.
If adopted, the proposed regulations…
- Oct 28, 2016
- Publications
On October 13, 2016, the U.S. Department of Treasury released
the highly-anticipated final and temporary regulations under
Section 385 of the Internal Revenue Code.
- Oct 19, 2016
- Publications
On October 5, 2016, the U.S. Department of Treasury and the
Internal Revenue Service (together referred to as the "Service")
finalized previously proposed regulations regarding the allocation
of partnership liabilities and…
- Jul 21, 2016
- Publications
On July 14, 2016, the U.S. Department of Treasury issued
proposed regulations and on July 15, 2016 the IRS issued Revenue
Procedure 2016-40, both regarding the requirements for a tax-free
spin-off pursuant to Section 355 of the…
- Apr 11, 2016
- Publications
On April 4, 2016, as the most recent step in its ongoing battle
against inversion transactions, the U.S. Department of Treasury
issued both new temporary and proposed regulations addressing
certain inversion and post-inversion…
- Apr 07, 2016
- Publications
Tax partner Jeffrey Samuels was quoted in an April 7 article
in The Wall Street Journal, titled "New Inversion
Rules Draw Concerns Outside U.S."
- Feb 10, 2016
- Publications
On Tuesday, February 9, 2016, the White House released President
Obama's Budget for Fiscal Year 2017.
Tax partner David Sicular, chair of the Tax Section of the New
York State Bar Association (NYSBA), presided over and delivered the
annual report presentation at the NYSBA Tax Section's annual
meeting. The event took place on…
- Jan 05, 2016
- Publications
On Friday, December 18, 2015, President Barack Obama signed the
"Protecting Americans from Tax Hikes Act of 2015" ("PATH Act").
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