Newsletters

05.07.14

Virtual Currency & IRS Reality

The Internal Revenue Service recently issued Notice 2014-21 to provide guidance for the tax treatment of virtual currency, such as Bitcoin.

12.04.13

1031 Exchanges: Exchanging Out of California? Do Keep In Touch

As we have noted previously, many property owners are aware that one can sell investment property and reinvest the sales proceeds in like-kind investment property without having to pay tax on the sale.

10.28.13

Governor Signs Bill Providing Retroactive Tax Relief to Sellers of Qualified Small Business Stock

On October 4, 2013, Governor Brown signed into law California Assembly Bill 1412 (Stats. 2013, ch. 546) (AB 1412), which provides tax relief to those individual taxpayers affected by the decision in Cutler v. Franchise Tax Board, 208 Cal. App. 4th 1247 (2012).

09.04.13

The New NYSE and Nasdaq Listing Standards: What Should Companies Be Doing?

It has been nearly two months since the NYSE and Nasdaq listing standards became effective that require compensation committees to assess the independence of their consultants, legal counsel and other advisors.

08.30.13

Internal Revenue Service Rules on Tax Treatment of Same-Sex Couples

Following the United States Supreme Court’s recent decision recognizing same-sex marriages [United States v. Windsor, 570 U.S. __, 133 S.Ct. 2675 (2013)], on August 29, 2013, the Internal Revenue Service issued Revenue Ruling 2013-17 and two sets of FAQs addressing the taxation of same-sex ...

03.27.13

1031 Exchanges of Investment Property— Recent Cases

Many property owners are aware that one can sell investment property, at a profit, and reinvest the sales proceeds in replacement investment property, without having to pay tax on the sale. Such transactions are known as "tax-deferred exchanges" or "1031 exchanges" (1031 being ...

03.06.13

FTB Announces Temporary Reprieve on Retroactive Assessment of Qualified Small Business Stock Taxes

On January 8, 2013, we published a newsletter detailing the Franchise Tax Board's (FTB) questionable legal and policy decision to begin collecting on a retroactive basis approximately $150 million of personal income taxes plus interest from investors who lawfully claimed a 50 percent exclusion ...

01.29.13

SEC Approves NYSE and NASDAQ Rules on Compensation Committees and Advisers

The Securities and Exchange Commission has approved new listing requirements promulgated by the New York Stock Exchange and the NASDAQ Stock Market relating to the composition and oversight provided by compensation committees.

01.08.13

Ringing in the New Year with Revised Estate and Gift Tax Laws

Congress has averted the so-called fiscal cliff by passing the "American Taxpayer Relief Act of 2012" (the "Act") on January 1, 2013, which President Obama signed into law the following day.

01.08.13

FTB Retroactively Denies “Qualified Small Business Stock” Personal Income Tax Benefits

On December 21, 2012, the Franchise Tax Board (FTB) released Notice 2012-03 (the “FTB Notice”), which notice outlines the procedures the FTB will apply in response to the Court of Appeal’s recent decision in Cutler v. Franchise Tax Board, 208 Cal. App. 4th 1247 (2012).