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Whitepaper: Renegotiation and Transfers of Debt in a COVID-19 Era – Tax Consequences

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…

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…

New regulations and guidance under IRC Sec. 199A – 20% Deduction

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.

News: Steve Phillips to Present Mergers and Acquisition Webinar – March 27, 2019

(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…

New Whitepaper: Resolutions for 2019 – Tax and Wealth Planning

You’ve probably already made plenty of resolutions for the New Year, but here are a few more focusing on important tax, estate, and wealth preservation matters as you navigate into the New Year. Tax and wealth planning is not a “fire and forget” process. Routine and periodic review and adjustment…

News: Phillips Golden LLP Recognized in The Best Law Firms in America

We are pleased to report that Phillips Golden LLP has been recognized and listed in The U.S. News – Best Lawyers® “Best Law Firms” (Tax – Tier I).*  Steve Phillips, the Senior Partner of the firm is Board Certified – Tax Law by the Texas Board of Legal Specialization (TBLS)…