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Search Results : Tax Litigation

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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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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