Author Archive:
Jeffrey A. Liesemer
Insolvency in Washington DC , Insolvency in Maryland and Insolvency in VirginiaJeffrey A. Liesemer
silverJeffrey is a silver memberMember, Caplin & Drysdale, Chartered
Governor Inslee’s Presidential Campaign Triggers New Risks for Investment Advisers – March 6, 2019
Read more: Governor Inslee’s Presidential Campaign Triggers New Risks for Investment Advisers – March 6, 2019Washington Governor Jay Inslee announced late last week that he is running for President, making him the first sitting governor in the 2020 presidential field. Inslee’s entrance into the presidential race while simultaneously holding his gubernatorial office represents a new risk for investment advisers subject to the Securities & Exchange Commission’s “Pay-to-Play” Rule. The SEC’s…
Recent Developments in FARA: Michael Cohen Hearing – February 28, 2019
Read more: Recent Developments in FARA: Michael Cohen Hearing – February 28, 2019Michael Cohen’s testimony on February 27, 2018, before the U.S. House Committee on Oversight and Reform featured several heated exchanges, including one particular line of questioning about the Foreign Agents Registration Act (“FARA”) from Mark Meadows (R-NC). Congressman Meadows suggested during the hearing that Mr. Cohen’s work for several foreign companies obligated him to register…
What You Need to Know About the New Tax on “Excess” Nonprofit Compensation
Read more: What You Need to Know About the New Tax on “Excess” Nonprofit CompensationOn the last day of 2018, the IRS issued Notice 2019-09 clarifying how the new 21 percent tax on “excess” compensation impacts nonprofits. The tax is effective for compensation paid in tax years beginning after December 31, 2017.[1] For most nonprofits, the biggest impact will be the need to keep track of whether they…
The New Voluntary Disclosure Practice: A Fair Compromise?
Read more: The New Voluntary Disclosure Practice: A Fair Compromise?On November 29, 2018, the IRS released updated Voluntary Disclosure Practice (VCP) procedures applicable to both offshore and domestic voluntary disclosures. The new VCP supersedes in part the IRS’s longstanding voluntary disclosure practice and fills the gap left in the absence of the Offshore Voluntary Disclosure Program (OVDP), which ended on September 28, 2018 (see…
ALERT – UPDATED: Year-End Charitable Giving Ideas: IRA Rollovers and “Bunching” Charitable Deductions
Read more: ALERT – UPDATED: Year-End Charitable Giving Ideas: IRA Rollovers and “Bunching” Charitable DeductionsRecent tax law changes amplify the benefits of two different charitable giving ideas: (1) “bunching” charitable giving to maximize deductions and (2) making a charitable IRA rollover. First, donor-advised funds offer the opportunity to “bunch” charitable deductions into a single year to better take advantage of the higher standard deduction available under the 2017 Tax…
UPDATED: Year-End Charitable Giving Ideas: IRA Rollovers and “Bunching” Charitable Deductions
Read more: UPDATED: Year-End Charitable Giving Ideas: IRA Rollovers and “Bunching” Charitable DeductionsRecent tax law changes amplify the benefits of two different charitable giving ideas: (1) “bunching” charitable giving to maximize deductions and (2) making a charitable IRA rollover. First, donor-advised funds offer the opportunity to “bunch” charitable deductions into a single year to better take advantage of the higher standard deduction available under the 2017 Tax…
Year-End Updates on Partnership Representatives
Read more: Year-End Updates on Partnership RepresentativesSummer 2018 proved to be an active time in the implementation cycle of the new partnership audit regime, created under the Bipartisan Budget Act of 2015 (“BBA”). As this is the first tax year in which the new regime will apply to partnership audits, the Internal Revenue Service (“IRS”) issued a plethora of proposed…
Updates: Private Client
Read more: Updates: Private ClientDear Friends of the Firm, As a courtesy and for ease of reference, Caplin & Drysdale is sending this communication with links to recent articles and news, as well as upcoming events. Alerts & Published Articles When Opportunity Knocks: Qualified Opportunity Zone Proposed Regulations Released Caplin & Drysdale Client Alert October 22, 2018 EXPERT ANALYSIS:…
When Opportunity Knocks: Qualified Opportunity Zone Proposed Regulations Released
Read more: When Opportunity Knocks: Qualified Opportunity Zone Proposed Regulations ReleasedOctober 23, 2018 On Friday, October 19, 2018, the IRS released proposed Treasury Regulations under sections 1400Z-1 and 1400Z-2 and Revenue Ruling 2018-29 to clarify several ambiguities relating to investments in qualified opportunity zones (“QOZs”): designated areas in low income communities. Interested investors in and organizers of qualified opportunity funds (“QOFs”) have anxiously awaited this…
Transfer Pricing Strategist Clark Armitage Named President of Caplin & Drysdale
Read more: Transfer Pricing Strategist Clark Armitage Named President of Caplin & DrysdaleWASHINGTON, D.C. – October 11, 2018: Caplin & Drysdale announced today that Clark Armitage — a Member working primarily in the transfer pricing space — was named President of the Firm. “Throughout his years with the firm, Clark has been both a team player and a thoughtful leader,” remarked his predecessor, Beth Kaufman. “He is…
Caplin & Drysdale’s Newest Member Victor Jaramillo Serves Tax Controversy Needs of Global Community
Read more: Caplin & Drysdale’s Newest Member Victor Jaramillo Serves Tax Controversy Needs of Global CommunityJoin Our Alert Distribution List Caplin & Drysdale’s Newest Member Victor Jaramillo Serves Tax Controversy Needs of Global Community October 3, 2018 Clients value and rely on Mr. Jaramillo’s in-depth knowledge of U.S. tax law and his innovative approach to solving complex tax issues. His areas of focus for corporate clients include all forms…
IRS Issues Guidance on Calculating Unrelated Business Income Tax
Read more: IRS Issues Guidance on Calculating Unrelated Business Income TaxThe Tax Cuts and Jobs Act changed the way tax-exempt organizations calculate their unrelated business taxable income (UBTI). No longer can organizations follow the rules used by taxable entities and aggregate income and deductions from all of their unrelated trades or businesses. Rather, new code section 512(a)(6) requires organizations to separately compute their UBTI for…