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Search Results : Corporate

USCIS Reminder: F-1 “Cap-gap” Status and Work Authorization Extension Only Valid Through September 30

October 8, 2018
Adriana Kostencki  |  Business Immigration, Corporate

On September 28, 2018, the U.S. Citizenship and Immigration Services (“USCIS”) issued a reminder that F-1 students who have an H-1B petition that remains pending on Oct. 1, 2018, risk accruing unlawful presence if they continue to work on or after Oct. 1 (unless otherwise authorized to continue employment), as their “cap-gap” work authorization is only[…]

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Impact of Tax Reform Act on Parties to Litigation

April 2, 2018
Mark Wisniewski  |  Corporate, Tax Litigation, Taxation

As a result of the new tax reform act (H.R. 1), signed into law by President Trump on December 22, 2017, a below-the-line deduction[1] for legal fees incurred in litigation is no longer available for tax years 2018 through 2025. Thus, plaintiffs in numerous categories of litigation could end up paying taxes on one hundred percent (100%) of the gross[…]

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The New Deduction for Pass-Through Entities and Sole Proprietorships

January 22, 2018
Mitchell W. Goldberg, Mark Wisniewski, and Nick Jovanovich  |  Corporate, Taxation

The new tax reform act (H.R. 1), signed into law by President Trump on December 22, 2017, added a new provision to the tax code (i.e., IRC Section 199A), for taxable years beginning after 2017 and before January 1, 2026, which allows taxpayers other than corporations to deduct 20% of their allocable share of qualified business income from pass-through[…]

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Tax Court Giveth and Congress Taketh Away: Taxation of Sale of U.S. Partnership Interests by Foreign Persons and Impact on M&A Transactions

January 16, 2018
Mitchell W. Goldberg  |  Corporate, Mergers & Acquisitions, Taxation

The Tax Cuts and Jobs Act (H.R. 1) (the “Act”), signed by President Trump on December 22, 2017, implemented the most comprehensive overhall of the Internal Revenue Code of 1986, as amended (the “Code”) in decades. In particular, the Act overturned a 2017 Tax Court case, Grecian Magnesite Mining, Indus. & Shipping Co. v. Commissioner, 149 T.C.[…]

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Beginning April 2, 2018, U.S. Companies May File H-1B Petitions on Behalf of Their Prospective Foreign Workers

January 3, 2018
Adriana Kostencki  |  Business Immigration, Corporate

The filing period for new H-1B petitions to be counted against the annual H-1B quota for Fiscal Year (FY) 2019 will begin on Monday, April 2, 2018. Cap-subject H-1B petitions will have an employment start date of October 1, 2018 or later. In preparation for the opening of the FY 2019 H-1B filing period, employers are strongly encouraged to begin[…]

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Highlights of H.R. 1 (The “Tax Bill”), Formerly Known as the “Tax Cuts and Jobs Act,” Passed by Congress and Signed by the President

December 26, 2017
Mark Wisniewski  |  Corporate, Tax Litigation, Taxation

On December 22, 2017, the President signed into law the tax bill, an extremely broad and all-encompassing piece of tax reform legislation. the following is a brief synopsis in tabular format of select key provisions contained in the tax bill which generally go into effect on January 1, 2018:Tax Reform for Individuals TOPIC THE TAX[…]

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To "C" or Not To "C"? A Triumph of S-Election Form Over Substance

April 25, 2017
Nick Jovanovich and Mark Wisniewski  |  Corporate, Tax Litigation

For shareholders of S corporations and their advisors, avoidance of the potentially catastrophic tax consequences resulting from a “blown” S election is always an issue of paramount importance. Due to superior asset protection, limited liability, tax savings and self-employment tax benefits, many Florida business owners have opted to operate their[…]

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