The recent reporting regarding President Donald J. Trump’s business and personal income tax situation has created a flurry of commentary – both political and technical. Steve Phillips recently provided his insight to the National Real Estate Investor on these matters.  In his view, one aspect of the Trump tax saga…

Around the Firm. Remote Work. PG LLP continues to (thankfully and gratefully) enjoy the benefits of operating virtually (i.e. “remotely,” “at-home”), having done so throughout the firm’s existence. The aggressive application of state of the art technology in the law firm environment was and is a fundamental underpinning of the…

The COVID-19 pandemic raises the specter of borrowers defaulting on their loans and debt issuances. Renegotiation and workout of those obligations must occur, either in or out of bankruptcy.  Any time where a borrower and lender change the terms of a pre-existing debt obligation, the possibility of tax consequences are…

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…

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…

(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…

New regulations and other guidance under IRC Section 199A have been released recently. There is particularly new and interesting news related to rental real estate activities and whether those activities qualify for the 20% deduction allowed under 199Aa.  See our whitepaper on the subject here.

(January 12, 2019) Steve Phillips, a tax and transactional attorney and Senior Partner at Phillips Golden LLP, will present an educational paper and talk on selected and complex tax issues arising in the mergers and acquisition arena. Recent tax reform along with certain IRS rule changes have energized deal making…