Recent News & Insights

IC-DISCs: A Powerful Tax Savings Opportunity for Export Companies
August 11, 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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Real Estate Advisor - October, 2017


October 17, 2017


James Brower Featured in Bucks County Courier Times


Oct 2, 2017

GOP's Proposed Tax Plan Changes the Rules for Businesses and Individuals


By Mark R. Baran
October 2, 2017

After months of speculation, President Trump and Republican congressional leaders have released an outline of their tax reform plan. “Unified Framework for Fixing Our Broken Tax Code” is intended to serve as a template for congressional committees to draft legislation aimed at cutting tax rates, simplifying the tax code and providing a more competitive environment for businesses. The framework addresses tax issues that affect both businesses and individuals.

HONOREES ANNOUNCED FOR PHILADELPHIA’S TOP LAWYERS AWARD PROGRAM


September 26, 2017

Marks Paneth is proud to be the Presenting Sponsor of the Philadelphia Business Journal’s inaugural Best of the Bar awards program, which seeks to honor Philadelphia-area attorneys and their recent accomplishments.

William Jennings Featured in Commercial Observer


Sep 26, 2017

The CFO’s Role in Cybersecurity


By Richard Nathan
September 5, 2017

In an age when cyberattacks are more of a guarantee than a possibility, safeguarding your company from digital threats requires all hands on deck. As a CFO, how can you ensure that your business is prepared to mitigate and respond to these threats?

Mitigation of damages: Professional obligations for the expert witness computing damages


By Eric A. Kreuter
August 29, 2017

Eric A. Kreuter was recently published in the H1 2017 issue of Global Opportunities Bulletin. His article explains how economic damages experts can apply the Mitigation of Damages Doctrine to their casework within the context of the economic analysis.

On boarding a new transfer pricing client


By Angela Sadang
August 29, 2017

Angela Sadang was recently published in the H1 2017 issue of Global Opportunities Bulletin. Her article addresses the importance of understanding a new client’s business when initiating a transfer pricing engagement and developing the appropriate transfer pricing policy and methodology.

Nonprofit Alert: New FAQs on Uniform Guidance for Federal Awards


By John D'Amico
August 28, 2017


Foreign Partners in US Business Get Tax Relief in New ECI Ruling


By Curtis Best
August 23, 2017

A major US tax court handed a victory to foreign investors in US business this summer, when it rejected the controversial IRS Ruling 91-32. The ruling, issued in 1991, allowed the IRS to treat a non-US partner’s gains from the disposition of an interest in a US partnership as ECI (income effectively connected to the trade or business).  ECI of a non-US person is subject to US income tax and an additional 30 percent branch profits tax.

ANTHONY TEMPESTA FEATURED IN 914 INC.


Aug 23, 2017

YASMINE MISURACA FEATURED IN THE CPA JOURNAL’S WEB PANEL


Aug 22, 2017

“MISSION DRIFT” AND OTHER POTENTIAL AUDIT TRIGGERS YOU SHOULD KNOW ABOUT


By Frances McKenna |  Robert Lyons
August 22, 2017

It is your organization’s responsibility to apply due diligence when preparing the Form 990, and ensure that you are operating in accordance with the purpose for which you were granted exemption. Manage that responsibility well. 

Nonprofit Alert: FASB Proposes Improvements to Nonprofit Grant and Contribution Accounting


By John D'Amico
August 21, 2017

There has always been some “gray area” in determining whether a grant is an exchange transaction or a contribution – depending on whether the contributor/grantor (the resource provider) received something of approximate equal value in exchange for the resources transferred. This has resulted in difficulties and diverse reporting practices among nonprofit organizations.

Border-Adjustment Tax Eliminated from Tax Reform Plan


By Mark R. Baran
August 14, 2017


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


By Curtis Best
August 11, 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.

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).

MONICA KADEN FEATURED IN HFMA'S FOCUS Magazine


Aug 1, 2017

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