Recent News & Insights

IC-DISCs: A Powerful Tax Savings Opportunity for Export Companies
July 5, 2017
The U.S. Court of Appeals recently ruled in favor of taxpayers who want to utilize IC-DISCs (interest-charge domestic international sales corporations) for estate planning purposes. In Summa Holdings, Inc. v. Commissioner1, the court rejected the IRS’s application of the substance-over-form doctrine to prevent the use and holding of IC-DISC stock in IRAs and trusts.  READ MORE +

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Tax Act puts onus on Americans to do the right thing


By Paul Bercovici
August 8, 2017


Valuation and Litigation Briefing, August 2017


August 7, 2017


Planning for Life after a QPRT


By Laura E. LaForgia |  Kathi Mintzer
August 3, 2017

Laura E. LaForgia and Kathi Mintzer were published in the August 2017 issue of Trusts & Estates. Their article addresses the decisions, choices and considerations that need to be made at the end of a qualified personal residence trust (QPRT).

MARKS PANETH'S SUMMER 2017 NONPROFIT SURVEY RESULTS


August 1, 2017

Marks Paneth is pleased to reveal the findings of our third Nonprofit Pulse survey, which gauges the views and expectations of nonprofit leaders with organizations ranging from 20 employees to 500 employees. The Summer 2017 survey uncovered the industry’s outlook on funding availability, demand for services, board member effectiveness and other organizational issues.

Nonprofit Alert: Changes to New York State June 30, 2017 CFR Filing


By Joseph J. Kanjamala |  John D'Amico
July 31, 2017

The New York State Consolidated Fiscal Reporting (CFR) and Claiming Manual for the reporting period from July 1, 2016 to June 30, 2017 is now available.

Real Estate Advisor - August, 2017


July 31, 2017


Eric Kreuter Featured in The CPA Journal’s Voices of the Profession Series


Jul 26, 2017

Nonprofit Agendas - July, 2017


July 12, 2017


Amendments to New York Nonprofit Revitalization Act of 2013 are now in effect


By Michael McNee |  John D'Amico
July 6, 2017

On November 28, 2016, additional amendments (the “2016 Amendment”) to the New York Nonprofit Revitalization Act of 2013 (the “NPRA”) were signed into the New York Not-for-Profit Corporation Law (“NPCL”). The 2016 Amendment is intended to “improve and make clarifying amendments” in order to “correct certain inconsistencies, and make the statute operate more smoothly and efficiently.”

IC-DISCs: A Powerful Tax Savings Opportunity for Export Companies


By Curtis Best
July 5, 2017

The U.S. Court of Appeals recently ruled in favor of taxpayers who want to utilize IC-DISCs (interest-charge domestic international sales corporations) for estate planning purposes. In Summa Holdings, Inc. v. Commissioner1, the court rejected the IRS’s application of the substance-over-form doctrine to prevent the use and holding of IC-DISC stock in IRAs and trusts. It found that the substance-over-form doctrine should only be applied when a taxpayer or the IRS attempts to characterize a transaction differently than its substance.

Vivian Martinez and Sherry Fan featured in New York Real Estate Journal


Jun 13, 2017

Monica Kaden featured in QuickRead


Jun 13, 2017

Doing Business Guide - UK


June 13, 2017


Best of the Bar: Philadelphia’s Top Lawyers


Jun 9, 2017

New rules for telling your financial story


By John D'Amico
June 2, 2017

Nonprofits that are at least partially funded through government contracts face two ongoing challenges. One is finding funding for any associated administrative costs that are not covered by the grant. The second is managing cash flow when governmental agencies are notoriously late in reimbursing nonprofits for expenses they have already incurred. It is common for nonprofits to wait three to six months or more for reimbursement. This can result in serious liquidity issues. Combined, these issues often make it difficult for nonprofits to provide potential private donors a true picture of their financial status.

Real Estate Advisor - June, 2017


May 30, 2017


Effective date of OMB’s Procurement Standards extended


By John D'Amico
May 25, 2017

On December 26, 2013, the US Office of Management and Budget (OMB) published 2 CFR 200, “Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards” – also referred to as the Uniform Guidance (UG). One of the most significant changes introduced by the UG relates to procurement standards for non-Federal entities.

Tax Alert: Trump Administration’s Tax Plan Explained


By Steven Eliach
May 17, 2017

On Wednesday, April 26, 2017, the Trump Administration unveiled a tax plan that proposes significant reductions to individual and corporate tax rates, reduces the number of individual tax brackets to three – 10 percent, 25 percent and 35 percent – and repeals the estate tax – among other proposals. While the plan has been presented as a broad outline, rather than in legislative text, the proposal represents a significant overhaul of the US tax system.

Valuation & Litigation Briefing, May 2017


May 15, 2017


Doing Business Guide – Malta


May 9, 2017


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