In an effort to help prevent and combat money laundering, terrorist financing, corruption, tax fraud, and other illicit activity, the United States Department of the Treasury just issued a final rule [RIN: 1506-AB49]. The rule requires certain businesses to file reports with FinCEN (Financial Crimes Enforcement Network) that identify two categories of individuals: the beneficial

What Happened:

Henry Hobson is a widowed blowhard who fancies himself superior to everyone because he owns a shoe business.  Hobson’s daughter Maggie actually runs the business, but Hobson does not pay her.

Hobson is downright nasty to most of the people in his life.  He demeans Maggie and tells her she is too old

Under the proposed Coronavirus Aid, Relief and Economic Security Act, Congress has tasked the IRS with overseeing cash stimulus payments to be made to taxpayers. In addition, last week, the Families First Coronavirus Response Act was signed by President Trump, permitting the U.S. Treasury Department, IRS and U.S. Department of Labor to jointly administer two

In an effort to provide as much timely guidance as possible, the IRS has created a Frequently Asked Questions (FAQs) site to address taxpayer questions and concerns with respect to recently promulgated Notice 2020-18. The Notice generally provided relief with respect to income tax return filings and payments and the FAQs serve to guide taxpayers

As part of the federal government’s continued efforts to minimize the economic disruptions caused by the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin on March 20, 2020, announced that the April 15th deadline for filing individual income tax returns for tax year 2019 has been moved to July 15, 2020.

In addition to relief on

Kate Heptig wrote an article for VC-List.com about the advantages of stock options for attracting and retaining talent.

Click here to read the article.

Kate Heptig has authored an article for USLAW’s Fall 2019 magazine, “Safety In Numbers – Most Independent Physicians Can’t Afford to Go it Alone Anymore.”

Click here to read the article.

On July 1, 2019, President Trump signed the Taxpayer First Act into law. The Act represents an important and welcome step toward improving technology and security while providing for an overall improved service experience for taxpayers interacting with the IRS.

The Act contains two parts. The main themes of the first portion of the Act

As of January 2019, following a months-long break in the cases due to judicial transition, at least 70 lawsuits arising from the accidental destruction of human embryos and eggs were pending in Ohio state courts. The cases highlight the complex questions surrounding the legal status of embryos and, by consequence, theories of liability for the

Due to a recent Supreme Court decision, internet sellers may now be required to collect and remit sales taxes in states in which they have no physical presence.

In the landmark case of South Dakota v. Wayfair, Inc., decided on June 21, the Court overturned its prior decisions that had provided that an out-of-state seller

A new audit regime, effective January 1, potentially shifts tax liabilities among partners. Starting in 2018, the IRS will be authorized to collect tax deficiencies directly from a partnership (including LLCs taxed as partnerships). This will result in current partners bearing tax liabilities relating to prior taxable years, even though the partnership may now have

Kate Heptig’s article, “Equal Isn’t Always Fair: How to Divide Founders’ Equity,” appeared in VC-List, an online publication for the venture capital industry.

To read the article, click here.

A recent ruling[1] by the Internal Revenue Service has raised concerns about the applicability of tax-exempt status to accountable care organizations. The IRS has taken action which will cause tax-exempt organizations to pause and carefully examine their participation in ACOs or other provider networks, particularly when such an ACO or network does not participate in the Medicare Shared