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Federal Tax Update (Including Recent Court Cases and Rulings) from May 2021


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Cost Free
Presentation Length 1.0 hour

Recorded DateJune 11, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

This session will review the leading federal tax developments of May 2021. We will review the valuation issues in the Estate-of-Michael-Jackson decision by the Tax Court—an opinion of almost 300 pages. Perhaps even more interesting, we will look at a case where the Tax Court found that 11 corporations were the alter ego of an individual who had a passport from the Kingdom of Kerguelen—a series of desolate islands 3,000 miles off the tip of Africa. We will also review a Chief Counsel Advice dealing with basis adjustments when a partnership audit leads to liability paid by the partnership rather than the “reviewed year” partners.
Learning Objectives:

  • List the latest regulations, rulings, and pronouncements from the IRS

  • Identify and summarize the most recent decisions out of the Tax Court and federal district courts around the country

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Stein sperling

As chair of the firm’s tax practice group, David helps businesses and individuals with a broad range of tax planning and controversy matters, estate planning, business transactions, and valuations. A CPA with a Master of Laws in Taxation from Georgetown University Law Center, he is accredited in estate planning by the National Association of Estate Planners and Councils and in business valuation by both the American Institute of Certified Public Accountants and the National Association of Certified Valuators and Analysts. With over 35 years of experience, David brings a high level of expertise, sound judgment, and personal attention to help solve his clients’ tax, estate, and business matters.

About Our Presenter

Stein sperling
In 1978, Stein Sperling’s founding partners Paul Stein, Don Sperling and Millard Bennett created a law firm that set out to make a positive difference in the way that law is practiced. Our goal then—as it still is today—was to make meaningful connections with our clients, community and colleagues by dedicating ourselves to the highest levels of service, integrity and excellence. For us, legal counsel is a responsibility and a calling. It is not simply about getting things done, but about doing things right. This commitment, along with the principles and values upon which our firm was established, is the foundation for the confidence our clients, community and people have in Stein Sperling and our work.