Thought-provokinganalysis and opinion on federal tax issues

May
21

Recently Proposed Rehabilitation Tax Credit Regulations

May 21, 2020 | by Monte A. Jackel

Proposed regulations under section 47, REG-124327-19, filed on May 21, 2020 with the federal register, provides guidance on the requirement added in the Tax Cuts and Jobs Act (TCJA) relating to the allocation of the rehabilitation tax credit over a five year period. Those proposed regulations also provide guidance on the interaction between the new […]

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May
21

Recent Presidential Executive Order and Its Potential Effects on Tax Regulations

| by Monte A. Jackel

I recently posted this on the Procedurally Taxing blog. It deals with the potential effects of a recent presidential executive order on tax regulations. I thought it would be of interest. https://procedurallytaxing.com/executive-order-on-regulatory-relief-to-support-economic-recovery/.

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May
15

Procedurally Taxing Blog Post On the APA and Tax Regulations

May 15, 2020 | by Monte A. Jackel

Thought this would be of interest. https://procedurallytaxing.com/conservation-easement-donation-and-the-validity-of-tax-regulations/

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May
08

Procedurally Taxing Blog by Me On The Role of FAQs

May 8, 2020 | by Monte A. Jackel

Just published this on the Procedurally Taxing blog on the role of FAQs. Thought it would be of interest. https://procedurallytaxing.com/the-proper-role-of-faqs/. See also https://procedurallytaxing.com/.

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May
05

Another Procedurally Taxing Blog Post by me on amended tax returns

May 5, 2020 | by Monte A. Jackel

This post on the Procedurally Taxing blog deals with whether amended tax returns can be mandated by the IRS. I thought this would be of interest. https://procedurallytaxing.com/the-newest-time-machine/

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May
04

Procedurally Taxing Blog Item By Me

May 4, 2020 | by Monte A. Jackel

This blog is a tax procedure blog by Professors Book, Fogg et al. https://procedurallytaxing.com/helpful-links/. I thought the item I posted on tax returns and the coronavirus pandemic would be of interest. https://procedurallytaxing.com/the-wavering-due-date-for-tax-returns/

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Apr
21

IRS Issues PTP Look-through Ruling That Lacks Authority

April 21, 2020 | by Monte A. Jackel

I wrote a letter to the editor of Tax Notes relating to an issue of the pass-through treatment of PTPs when applying the investment company rules of section 351(e) and 721(b). https://www.taxnotes.com/tax-notes-today-federal/partnerships-and-other-passthrough-entities/letter-ruling-ptp-look-through-illegal/2020/04/21/2cfn8. I also posted a comment to that letter in LinkedIn and Twitter. https://www.linkedin.com/feed/update/urn:li:activity:6658337228848156672/ and https://twitter.com/jackeltaxlaw/status/1252571602698620928. Thoughtful feedback to either me or the government […]

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Apr
13

Deduction of Payroll Costs under PPP of the CARES Act

April 13, 2020 | by Monte A. Jackel

The attached story from the Wall Street Journal, which quotes me as well as several others, explains the condundrum. https://jackeltaxlaw.com/wp-content/uploads/2020/04/Multibillion-Dollar-Tax-Muddle-Hovers-Behind-Small-Business-Loan-Program-WSJ.pdf

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Mar
26

Corona virus business tax provisions

March 26, 2020 | by Monte A. Jackel

The attached document provides some highlights of the business provisions contained in the Senate bill. https://jackeltaxlaw.com/wp-content/uploads/2020/03/Virus-business-tax-provisions.docx

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Mar
20

Some Recent Posts on LinkedIn

March 20, 2020 | by Monte A. Jackel

I have posted a number of comments on LinkedIn dealing with various current developments. They are located here. https://www.linkedin.com/in/monte-a-jackel-18921024/detail/recent-activity/

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Feb
21

At Risk Basis for Guarantees

February 21, 2020 | by Monte A. Jackel

I am attaching a write-up on a recent Tax Court case dealing with at risk basis under section 465 and guarantees. https://jackeltaxlaw.com/wp-content/uploads/2020/02/At-risk-Tax-Court-case.docx

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Feb
20

Tax Credit Partnerships Again

February 20, 2020 | by Monte A. Jackel

I am attaching a short write-up on the issue of whether an investor will be treated as a partner in a tax credit partnership. https://jackeltaxlaw.com/wp-content/uploads/2020/02/Tax-Credit-Guidance.docx

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Feb
16

Table of Contents to Prior Posts

February 16, 2020 | by Monte A. Jackel

Attached is a link to a document containing a list of all prior posts which have previously been posted on this website. If you would like a copy of something previously published, please let me know. https://jackeltaxlaw.com/wp-content/uploads/2020/02/Table-of-contents-for-web-posts-1.pdf

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Feb
15

IRS Corrects Attribution Example in Final 721(c) Regs

February 15, 2020 | by Monte A. Jackel

I recently published an article in Tax Notes discussing the final regulations under section 721(c). See link which is behind Tax Notes’ paywall. https://www.taxnotes.com/tax-notes-today-federal/transfer-pricing/complexity-and-confusion-cross-border-partnership-regs-finalized/2020/02/10/2c3xl?highlight=Jackel . In the article, I pointed out that the attribution example in the final regulation preamble was incorrect because there is no concept of indirect ownership through corporations in the final […]

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Feb
01

The Politics of Regulation Drafting

February 1, 2020 | by Monte A. Jackel

The attached is a re-print of an article I recently published in Tax Notes on the politics of regulation drafting. I thought this would be of interest. https://jackeltaxlaw.com/wp-content/uploads/2020/01/Jackel-01-20-2020.pdf

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Jan
17

The Effective Date of Section 721(c) Regs

January 17, 2020 | by Monte A. Jackel

I wrote a short note on the effective date of the section 721(c) regulations on LinkedIn. I am really not sure of the answer. See attached link. https://www.linkedin.com/in/monte-a-jackel-18921024/detail/recent-activity/shares/

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Jan
03

My LinkedIn Posts For Tax Notes Articles and Stories

January 3, 2020 | by Monte A. Jackel

I cannot post my comments to Tax Notes stories and articles here because the Tax Notes stories are behind a pay wall, for those subscribers only. But here is a link to my LinkedIn page where you can find posts of mine dealing with those stories and articles. https://www.linkedin.com/in/monte-a-jackel-18921024/detail/recent-activity/

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Dec
27

Passthroughs and Special Industries Must Spin Off Partnerships As A Separate Division

December 27, 2019 | by Monte A. Jackel

I recently read a news story in the tax press about recommended changes to the IRS as part of the mandated report due next October under the Taxpayer First Act, P.L. 116-25. The act mandates a report to Congress relating to potential reorganization changes to the IRS. Although this act is directed at the Internal […]

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Dec
22
Dec
11

Tax Court Worthless Partnership Interest Loss Case Fails to Address Several Key Issues

December 11, 2019 | by Monte A. Jackel

In MCM Management, the Tax Court, in a memorandum opinion, held that a partnership interest was worthless and generated an ordinary loss based on the facts of the case. Some key takeaways from the case follow: There is no discussion in the case of cancellation of indebtedness income. Since the court held that there was […]

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Dec
09

Guaranteed Payments On Capital As Interest Expense

December 9, 2019 | by Monte A. Jackel

The attached outline discusses this https://jackeltaxlaw.com/wp-content/uploads/2019/12/COMMENTARY-ON-INTERACTION-OF-THE-TERM.docxissue.

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Dec
05

Highlights of Recent Foreign Tax Credit Regs and Partnerships

December 5, 2019 | by Monte A. Jackel

The recently proposed and final foreign tax credit regulations issued December 2 of this year provides the following key points relating to partnerships and partners. This is a brief summary only to highlight these changes. Further study is required. The final regulations finalize what are known as “downstream loans”, which are loans by partners to […]

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Nov
27

Sun Capital Case Rejects Joint Economics And Favors Separate Formalities In Determining Whether A Partnership In Fact Exists

November 27, 2019 | by Monte A. Jackel

The recent Sun Capital case in the First Circuit rejected the holding of the District Court below that two separate entities had formed a deemed partnership in fact due to their joint objectives, cooperation and sharing in joint profits and losses´┐╝. Rather, the First Circuit focused more heavily on the separateness of the two entities […]

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Nov
01

My Revised CV

November 1, 2019 | by Monte A. Jackel

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Oct
31

Partnership FAQs Inappropriate

October 31, 2019 | by Monte A. Jackel

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