Thought-provokinganalysis and opinion on federal tax issues

Jan
31

Updated Partnership Aggregate-Entity Outline

January 31, 2023 | by Monte A. Jackel

I posted an outline of partnership aggregate-entity authorities on the Medium.com platform here, https://lnkd.in/eF35i-fQ.

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Jan
23

Latest Post In Medium On UPCs and Abuse

January 23, 2023 | by Monte A. Jackel

See my latest at medium.com. https://medium.com/jackeltaxlaw/the-partnership-anti-abuse-rule-and-upreit-structures-revisited-e2643e19e649

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Jan
16

Partnership Regulation Examples Not Supported by Text

January 16, 2023 | by Monte A. Jackel

I recently posted this on my Medium.com platform.

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Jan
13

It Is Time To First Reconsider And Then Enact Into Law Senator Wyden’s Partnership Tax Reforms

January 13, 2023 | by Monte A. Jackel

The taxation of partnerships and partners, or more appropriately, the lack thereof, has been in the news lately. (See “Wyden Statement on Ways & Means Investigation of Presidential Audit Program,” Dec. 21, 2022.) As Senator Wyden recently stated in his reported comments on the House report on presidential audits: “Donald Trump’s tax returns exemplify the shortcomings of […]

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Jan
04

Some Recent Posts of Mine at Medium.com

January 4, 2023 | by Monte A. Jackel

FYI. See http://jackeltaxlaw.medium.com. The posts relate to Trump’s taxes and conservation easements. https://jackeltaxlaw.com/wp-content/uploads/2023/01/The-Key-Lesson-To-Be-Learned-From-Trump.pdf

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Dec
20

INAUGURAL ARTICLE AT MEDIUM.COM

December 20, 2022 | by Monte A. Jackel

To read my inaugural article on the medium.com platform, see https://medium.com/jackeltaxlaw/conservation-easement-restriction-in-omnibus-soon-to-become-law-5db3dbab40fd.

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Dec
18

Update To Status

December 18, 2022 | by Monte A. Jackel

This is to note that I am no longer of counsel to Leo Berwick LLP. I continue as the principal of Jackel Tax Law, focused on federal tax law consulting, tax law commentary and tax policy analysis. You can find articles and other writings of mine at either Tax Notes https://www.taxnotes.com/, LinkedIn https://www.linkedin.com/in/monte-a-jackel-18921024/recent-activity/, at medium.com […]

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Jan
10

I Am Joining Leo Berwick As Of Counsel

January 10, 2021 | by Monte A. Jackel

I am pleased to announce that I will be joining Leo Berwick https://leoberwick.com/ as Of Counsel. https://jackeltaxlaw.com/wp-content/uploads/2020/12/Leo-Berwick-LINKEDIN-Banner.jpg. This association will allow me to continue to comment and publish on tax matters while teaming with other seasoned tax professionals to advise on complex transactions. Leo Berwick is a new firm made up of ex-Big 4 and […]

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Dec
30

From Procedurally Taxing Blog On Phantom Regulations

December 30, 2020 | by Monte A. Jackel

This was posted yesterday on the Procedurally Taxing blog. https://procedurallytaxing.com/. The text is reproduced below. The substance of this blog will be published as a letter to the editor of Tax Notes, Tax Analysts, Fairfax VA, on this coming Saturday/Monday. Introduction  In recently finalized small business accounting regulations (T.D. 9942, Dec. 23, 2020), the IRS and Treasury […]

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Dec
13

Letter to the Editor of Tax Notes on Partnerships and Proposed Conservation Easement Bill

December 13, 2020 | by Monte A. Jackel

I published this on December 14, 2020 in Tax Notes https://www.taxnotes.com/tax-notes-federal/partnerships/conservation-easement-bill-does-not-jibe-partnerships/2020/12/14/2d99w on the proposed charitable easement bill limiting the section 170 deduction for partnerships. It is reproduced below. “I write this letter in response to Kristen A. Parillo’s news story titled “House Easement Abuse Bill Contains Break for Historic Buildings” (Dec. 8, 2020). The story summarizes the […]

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Nov
20

A Link To My Articles At Tax Analysts

November 20, 2020 | by Monte A. Jackel

I am attaching a link to my articles and letters at Tax Analysts (which is behind a paywall). https://jackeltaxlaw.com/wp-content/uploads/2020/10/Jackel_Monte_IN_450x255.png Thought it would be of interest.

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Nov
16

Potential Regulatory Projects For New Administration

November 16, 2020 | by Monte A. Jackel

I thought the attached would be of interest. https://jackeltaxlaw.com/wp-content/uploads/2020/11/Potential-Regulatory-Projects.docx

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Nov
12

ENTITY LEVEL SALT TAXES ONCE AGAIN

November 12, 2020 | by Monte A. Jackel

Notice 2020-75, issued a few days ago, held that the so-called SALT workarounds using state laws that allow the partners to cause the partnership entity to incur an entity level income tax with a credit at the partner level, are true entity level taxes and that the SALT limitation of section 164 as amended by […]

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Nov
08

Is A New Treasury and IRS Transition On The Way?

November 8, 2020 | by Monte A. Jackel

Presidential transitions bring extreme changes within the Treasury Office of Tax Policy and the IRS Office of Chief Counsel, usually starting the day after the election results are in and continuing through the date of inauguration of a new president. I saw this play out once in 1992-1993 when serving on the staff of the […]

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Oct
26

A Principal Purpose Regs Over The Past Few Decades

October 26, 2020 | by Monte A. Jackel

I am attaching a short write-up on the “a principal purpose” anti-abuse regulations generally. I thought this would be of interest. https://jackeltaxlaw.com/wp-content/uploads/2020/10/A-Principal-Purpose.docx.

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Oct
09

A Thank You To Tax Analysts and to Eric Sloan

October 9, 2020 | by Monte A. Jackel

I wanted to thank Tax Analysts for both helping to promote me and for its assistance and support over the years. I also wanted to personally thank Eric Sloan of Gibson Dunn for the quote he gave them. Eric is a true professional. Please see this link for a promotional ad by Tax Analysts for […]

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Oct
09

Procedurally Taxing Blog Post By Me On Guaranteed Payments and the Validity of Tax Regulations

| by Monte A. Jackel

This blog post from the Procedurally Taxing blog site discusses the guaranteed payment as interest issue in the context of how to challenge the validity of tax regulations. I thought it would be of interest. https://procedurallytaxing.com/consistency-and-the-validity-of-regulations/

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Oct
02

Inconsistent Treatment Of Guaranteed Payments As Interest Expense

October 2, 2020 | by Monte A. Jackel

Guaranteed payments resemble interest expense under section 163 but those payments are not, as a technical matter, interest on actual indebtedness. Recent IRS regulations have treated guaranteed payments inconsistently. Below is the substance of a letter to the editor that I will be publishing in Tax Notes next Monday. Text Of Substance Of Letter: How […]

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Sep
28

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 […]

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Sep
21

Legislative 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.

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Sep
19

AICPA 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 […]

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Sep
19

New 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 […]

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Sep
05

Carried 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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Aug
22

Part Two Of Carried Interests Article In Tax Notes

August 22, 2020 | by Monte A. Jackel

Part two of my three part article on the section 1061 proposed regulations in Tax Notes is out today. Here is a link. Tax Notes Article . It is behind Tax Analysts’ paywall. I thought it would be of interest.

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Aug
15

New Carried Interests 1061 Article

August 15, 2020 | by Monte A. Jackel

Tax Notes has published part one of a three part article by me on the proposed section 1061 regulations. Carried Interest Tax Notes article. Part two is scheduled for publication on August 24 and the final part on August 31. The article is behind the Tax Analysts paywall at present. I thought this would be […]

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