In Tricarichi,1 the Tax Court held that the sole shareholder of a corporation was liable as a transferee for the corporation’s unpaid tax liability after he sold his stock in a “Midco” transaction, resulting in a tax deficiency of $15,186,570 and penalties of $6,012,777 under Section 6901 and Ohio fraudulent transfer laws. The taxpayer was […]
Last week, Congress passed H.R. 2029, The Protecting Americans from Tax Hikes Act of 2015 (PATH). The PATH Act would extend for varying degrees of time, some permanently, many expired tax provisions. Our initial summary of the PATH Act can be found here. On Friday, President Obama signed the PATH Act into law. As a result, taxpayers have a […]
In what has replaced Santa Claus as the most anticipated December arrival [for U.S. taxpayers at least], Congress reached a bipartisan agreement to retroactively extend numerous tax benefits that expired at the end of last year. The Protecting Americans from Tax Hikes Act of 2015 (PATH) was announced by Congress late last night. PATH needs […]
Stephen R. Looney, Shareholder and Chair of Dean Mead’s Tax department, authored an article titled, “Camp Proposal on Tax Reform Contains Many Changes and Surprises”. The article was published in the August 2014 issue of Orlando Medical News. The full article may be viewed here: Camp Proposal on Tax Reform Contains Many Changes and Surprises.