Monthly Archives: September 2020
NY Times Story On Trump Taxes: The Internal Revenue Code Favors Real Estate Professionals but….
September 28, 2020
by Monte A. Jackel
I wrote a post yesterday evening on LinkedIn. Here is the link. https://www.linkedin.com/in/monte-jackel-18921024/detail/recent-activity/shares/. The text is reproduced below. I am not offering a view, one way or the other, on the merits of the matters discussed. Who could competently do that without adequate facts and requisite knowledge? But I can say that the tax law […]
Read MoreLegislative History Versus Regulation Preambles
September 21, 2020
by Monte A. Jackel
The attached is a short write up I have done relating to conflicting or potentially conflicting legislative history and regulation preambles. https://jackeltaxlaw.com/wp-content/uploads/2020/09/Of-Legislative-History-and-Regulation-Preambles.docx. I thought this would be of interest.
Read MoreAICPA Comments On IRS Negative Tax Capital Reporting
September 19, 2020
by Monte A. Jackel
The AICPA recently released a comment letter it sent to the IRS on the tax basis negative capital proposed reporting regime.https://aboutbtax.com/TbQ. 1. The purpose of this reporting regime, as I understand it, is to ensure that a partner reports the recapture of the excess of his share of debt over his tax basis when a […]
Read MoreNew S Corporation Case And The Check-The-Box Regulations
by Monte A. Jackel
This case came out today. 1. It deals with whether a controlling person of a Kentucky not for profit corporation was an S corporation shareholder. 2. I do not disagree with the holding of the court, which seems very apparent; beneficial ownership, a proprietary interest, is necessary to be a shareholder. 3. However, the mode […]
Read MoreCarried Interests Three Part Article
September 5, 2020
by Monte A. Jackel
I am attaching the three part article I published in Tax Notes Today Federal, Tax Analysts, Fairfax, VA, on carried interests and the new section 1061 proposed regulations. https://jackeltaxlaw.com/wp-content/uploads/2020/09/Jackel-Carried-Interests-Combined-Article.pdf. It can also be found at this link from a recent LinkedIn post. https://www.linkedin.com/feed/update/urn:li:activity:6717385115091169280/. I thought it would be of interest.
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