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IRS Guidance on Net Operating Loss Carrybacks

The COVID-19 pandemic has triggered a tremendous volume of new legislation and rules in the tax arena. As just one set of these rules, the Internal Revenue Service has issued guidance providing application of the net operating loss carryback rules enacted under the CARES Act. By allowing carryback of net…

Phillips Presents Section 199A Webinar

On October 10, 2020, in conjunction with co-author Dina A. Wiesen, Deloitte Tax, NYC, Steve Phillips presented a ninety-minute webinar on the latest updates under IRC Code Section 199A – the so-called “20% deduction.”  Enacted as part of the TCJA 2017, Section 199A presented some of the most challenging compliance…

News: Phillips Presents CLE Webinar – IRC Section 338(h)(10) – May 8, 2019

(May 4, 2019) Steve Phillips, a tax and transactional attorney and Senior Partner at Phillips Golden LLP, will present a webinar selected and complex tax issues arising in the mergers and acquisition arena. The tax reform law of 2017 and related statute and rule changes have energized deal making and…

Fiduciary Legal and Administrative Fees Survive TCJA Elimination!

The Tax Cuts and Jobs Act of 2017 (Pub. L. No. 115-97) (“TCJA”) eliminated the deduction for miscellaneous itemized deductions, at least temporarily, until 2025. This means that expenses incurred for the production of income described in IRC Section 212, such as those incurred to manage investments and tax preparation…