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November 19, 2020 Our firm continues to stay on top of the Paycheck Protection Program (PPP) and its impact on our business clients, and individual owners of flow-through entities. With some very timely guidance, the U.S. Treasury Department and IRS released direction clarifying the tax treatment of expenses where a PPP loan has not been […]
November 2, 2020 In a previous client alert here, released on June 12, 2020, Vince Nardone and Mike Sorice discussed a proposed tax amnesty plan passed by the Ohio House of Representatives set to begin on January 1, 2021. Although the program passed the House of Representatives in mid-May, to date, the proposed tax amnesty […]
June 12, 2020 The Ohio House of Representatives has unanimously approved a new tax amnesty proposal (HB 609), would raise revenues for the state and provide relief for taxpayers while Ohio’s economy recovers from the COVID-19 pandemic. This program, which is now under review by the Ohio Senate’s Ways and Means Committee, presents opportunities […]
Walter | Haverfield’s Alexis Kim explained the Bipartisan Budget Act of 2018 in the Cleveland Metropolitan Bar Journal. The act provides an exception to the excess business holding rules for certain philanthropic businesses.
Walter | Haverfield partner Gary Zwick was quoted extensively in an article in Tax Notes, which is a premier national publication in tax law. Gary discussed the benefits of family limited partnerships and the tax ramifications when those partnerships are liquidated.
Individuals and businesses have until February 15 to pay unreported or underreported tax liabilities and avoid penalties, reduce interest costs Individuals and businesses that owe unreported or underreported tax liabilities as of May 1, 2017, have an opportunity to avoid all tax penalties and cut the interest they owe in half if they act by […]
On October 29, 2017, Gary A. Zwick will be speaking on the topic, “Federal Tax Updates,” at the West Virginia Tax Institute, in Charleston, West Virginia.
On September 15, 2017, Gary A. Zwick will address the topic, “Handling Common Business Tax Issues,” at the NBI Seminar (“Business Law: Start to Finish“), in Akron, Ohio.
In the August 2017 issue of The Tax Adviser, Alexis J. Kim authored an article titled, “Contributions to quasi-governmental public-private partnerships.” Through this article, donors may gain a better understanding of how a Sec. 115(1) organization can receive tax-deductible donations without having an IRS determination letter, and quasi-governmental agencies may secure a framework to use, […]
In an article published in the July/August 2017 issue of Ohio Township News and titled, “Private Letter Rulings Help Six Ohio Land Banks Aggressively Pursue More Land Donations,” Alexis J. Kim explained Walter | Haverfield’s role in securing IRS private letter rulings for six Ohio land banks.
In an article written by reporter Dan Shingler and published in both Crain’s Cleveland Business and Crain’s Akron Business, Alexis J. Kim discussed a letter issued recently by the IRS, which essentially guarantees a tax deduction for donors to the Summit County Land Bank.
In a Crain’s “Legal Guest Blog,” published on June 16, 2015 and titled, “Renting out your home during the 2016 Republican National Convention: windfall or tax liability?,” Alexis J. Kim advised homeowners to be aware of the tax consequences of renting their homes during the RNC next year, and to consider these consequences when negotiating […]