Vol. 23 No. 1 - Fall 2003

From the Chair

Taxation

From the Chair

Richard A. Shaw

Many of you are aware that I had emergency spinal surgery on August 25, 2003, that took me out of action for several weeks. Fortunately, I will have a complete recovery and expect to see all of you at the next meeting. I want especially to thank Chris Brunswick, Ken and Carol Gideon, and all of you who stepped in to make the Fall Meeting a typical grand success. ...

Council Actions

Taxation

Council Actions

ABA Section of Taxation

The Council of the American Bar Association Section of Taxation met on August 9, 2003, at the Park Hyatt Hotel in San Francisco, California, in connection with the ABA Annual Meeting. The Council heard reports and took actions on the following items. ...

Points to Remember

Taxation

Our Shield, Their Sword: The Attorney-Client Privelege Takes a Hit

Donald R. Bly

Clients like tax advice, but they love tax opinions. Notwithstanding its historical importance—tangible evidence of an expert’s conclusion that the client has, at a minimum, the better side of the argument—the tax opinion’s most notable benefit these days is penalty protection. ...

Taxation

A Guided Tour of the Newly Issued Golden Parachute Regulations

Frank Tripodi

Section 280G disallows a deduction for so-called Excess Parachute Payments made to disqualified individuals. Generally, disqualified individuals are the officers, highly compensated employees (as defined in section 414(q)(1)(B)) and holders of 1% or more of the stock of a corporation. Parachute Payments are all payments made to a disqualified individual contingent upon a change in control...

Taxation

Inbound Foreign Investors: Selected Issues in Using Partnerships

Nancy Beckner

This Point reviews several important considerations affecting a foreign person’s use of a pass-through entity (a limited liability company (“LLC”) or partnership) for investing in a U.S. business; it also identifies certain issues that can have an impact on domestic investors in that passthrough entity. ...

Special Report

Taxation

New Markets Tax Credits: Alternative Financing for Community and Economic Development

Paul M. Jones, Jr.

In this Special Report Paul Jones tells us about a relatively new and therefore little known financing tool, the New Markets Tax Credit. Paul not only explains how NMTCs can provide significant benefits for both communities and investors but also explains what to do to receive them. ...

Counter-Counterpoint

Taxation

Judges in Tax Cases Should Have Some Tax Expertise

Brian J. Arnold

The tax systems of developed countries have become incredibly complex in the last 30 years. In most countries, the tax legislation is by far the largest single statute or group of statutes. As a result, it has always seemed self-evident to me that the judges deciding tax cases should know something about the area of law that they are interpreting and applying...

Interview

Taxation

M. Bernard Aidinoff, Tax Section Distinguished Service Award Recipient

Jasper L. Cummings, Jr. and Alan J.J. Swirski

The Tax Section awarded M. Bernard Aidinoff its 2003 Distinguished Service Award. Mr. Aidinoff is a retired partner at Sullivan & Cromwell. He chaired the Section in 1982-1983 and the ABA Commission on Taxpayer Compliance from 1983 to 1988. ...

Spotlight on Committees

Taxation

U.S. Activities of Foreigners and Tax Treaties

Joan Arnold

The U.S. has been attracting increased amounts of capital for some time; some investors like the access to public markets, while others view the U.S. as a tax haven for investment income earned by non-U.S. persons. The increased flow of foreign capital is also the natural result of the globalization of the business world. ...

Review

Taxation

The State and Local Tax Committee's Publications

Walter Hellerstein

One of the most difficult and timeconsuming tasks for the state and local tax practitioner, who often faces questions with multistate implications, is to find a reliable source of information on the law and practice in states other than his or her own. While the state and local tax services, like RIA and CCH offer excellent data bases...

News Briefs

Taxation

News Briefs

ABA Section of Taxation

Tax Section news and announcements.

Section Recommendation

Taxation

Section Recommendation

ABA Section of Taxation

The following legislative recommendation will be submitted concurrently to the Section at its 2004 Midyear Meeting Plenary Session and to the ABA House of Delegates for approval at the 2004 ABA Midyear Meeting. ...

Tax Bites

Taxation

Tax Bites

Ruth Burns

With this new feature we hope to bring a smile to your day and, in some cases, tell you something interesting and amusing that only a tax lawyer could appreciate. We inaugurate the feature with a ditty recently written by a law student who was being introduced to the intricacies of capital gains in her first tax course. ...

Renew Your ABA Membership

Vol. 23 No. 1 - Fall 2003

NewsQuarterly, Vol. 23 No. 1

From the Chair

From the Chair

Council Actions

Council Actions

Points to Remember

Our Shield, Their Sword: The Attorney-Client Privelege Takes a Hit

A Guided Tour of the Newly Issued Golden Parachute Regulations

Inbound Foreign Investors: Selected Issues in Using Partnerships

Special Report

New Markets Tax Credits: Alternative Financing for Community and Economic Development

Counter-Counterpoint

Judges in Tax Cases Should Have Some Tax Expertise

Interview

M. Bernard Aidinoff, Tax Section Distinguished Service Award Recipient

Spotlight on Committees

U.S. Activities of Foreigners and Tax Treaties

Review

The State and Local Tax Committee's Publications

News Briefs

News Briefs

Section Recommendation

Section Recommendation

Tax Bites

Tax Bites

ABA Resources

The ABA

Connect

Renew Your ABA Membership

American Bar Association TM American Bar Association

Vol. 23 No. 1 - Fall 2003

NewsQuarterly, Vol. 23 No. 1

From the Chair

From the Chair

Council Actions

Council Actions

Points to Remember

Our Shield, Their Sword: The Attorney-Client Privelege Takes a Hit

A Guided Tour of the Newly Issued Golden Parachute Regulations

Inbound Foreign Investors: Selected Issues in Using Partnerships

Special Report

New Markets Tax Credits: Alternative Financing for Community and Economic Development

Counter-Counterpoint

Judges in Tax Cases Should Have Some Tax Expertise

Interview

M. Bernard Aidinoff, Tax Section Distinguished Service Award Recipient

Spotlight on Committees

U.S. Activities of Foreigners and Tax Treaties

Review

The State and Local Tax Committee's Publications

News Briefs

News Briefs

Section Recommendation

Section Recommendation

Tax Bites

Tax Bites

ABA Resources

The ABA

Connect