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LexisNexis Tax Law Community Staff
Global Positioning of IP: State Research and Development Credits

by William H. Byrnes and Marvin Petry * Federal and state research and development (R&D) tax credits are powerful yet underutilized opportunities that can make a big difference in operating performance and cash flow for companies that rely on performing...

Elaine Hightower Gagliardi
IRC Section 2704 Proposed Regulations

Treasury published long-awaited proposed revisions to the existing I.R.C. Section 2704 regulations on August 4, 2016. 81 Fed. Reg. 51413 . If published as final regulations in current form, the revisions will inhibit transfers of closely-held business...

Susan Calistri Boesger
Estate Planning Aspects of Qualified Pension & Profit Sharing Plan Distributions

I. Overview II. Income Tax Treatment [1] Income Tax Deferred Until Receipt by Employee or Beneficiary [2] Income Tax on Distributions [a] Averaging Methods No Longer Generally Available [b] Rollovers of Lump Sum Distributions [c] 10% Penalty on Early...

Deanne Morton
Tax Reform Policies of the Presidential Candidates

INTRODUCTION When the Tax Reform Act was enacted 30 years ago, Congress was able to implement major tax reform by collaborating across bipartisan lines. [1] It was the last time the Internal Revenue Code underwent a major overhaul, and the elements...

LexisNexis Tax Law Community Staff
Dodd-Frank and Oil & Gas Audit Fees

by Max Choi, Dr. Rudolph Jacob and Dr. Susanne O'Callaghan * The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), was passed in response to the financial crisis of 2007-2009. The purpose of this exploratory...

LexisNexis Tax Law Community Staff
New Law Allowing IRS to Seize Passport

by Mark A. Muntean * Introduction A new law allows the Internal Revenue Service ("IRS" or the "Service") to revoke or deny passports for certain taxpayers who owe unpaid federal taxes. This change to the tax law was included...