Publications

Section Newsletter Articles on Taxation

Could a departing shareholder’s continuation with the company as an employee or a consultant be treated as a “retained interest” under Section 2036 or 2701 of the tax code? By Hilary E. Wild Trusts and Estates, September 2016 What if your client wants to remain an employee or an independent contractor of a corporation after gifting his stock in the corporation to his children?
The disappearance of the requirement that the Internal Revenue Service exhaust all reasonable collection efforts against the primary obligor By Benjamin Haskin Federal Taxation, September 2016 Recently, an increasing number of Memorandum Decisions in the United States Tax Court have summarily disposed of this requirement by stating that the existence and extent of transferee liability must be determined by state law, which often does not require the exhaustion of all reasonable collection efforts.
Illinois Governor signs sales tax bill providing clarity for new cancer treatment By David J. Kupiec and Natalie M. Martin State and Local Taxation, September 2016 On August, 19, 2016, Governor Rauner signed Senate Bill 3047 (Public Act 99-0858), which provides that FDA classified medical devices that are used for cancer treatment pursuant to a prescription will be taxed at the reduced 1% rate of tax applied to medicines rather than the standard 6.25% sales tax rate.
IRS proposes significant changes to valuation discount regulations By Jeffrey A. Mollet Agricultural Law, September 2016 On August 4, 2016, the IRS released proposed regulations (REG-163113-02) seeking to restrict valuation discounts in the context of family transfers.
Property Tax Code Legislative Round-Up for the 2016 Regular Session By Whitney Carlisle State and Local Taxation, September 2016 Updates on legislation of interest to state & local tax practitioners.
What is a coordinated appeals issue? By James Creech Federal Taxation, September 2016 Known internally as Appeals Coordinated Issues, or ACI for short, they can be a peek into what the IRS considers hot topics in tax or potential areas for abuse.
Cook County Board of Review digital filing system for the 2016 assessment By Michael M. Cabonargi State and Local Taxation, August 2016 A look at the developments during the year since the Board of Review implemented its new Digital Appeal Processing System.
Invalid “dark box” property tax claims misinform Indiana and Michigan Legislatures By Brent A. Auberry, Stewart Mandell, and Daniel L. Stanley State and Local Taxation, August 2016 In both Indiana and Michigan, new legislation gives taxpayers good reason to fear that in future years they may be faced with inflated property tax bills based on non-uniform and inequitable assessments.
Recent Chicago litigation By Stanley R. Kaminski and Elinor Murárová State and Local Taxation, July 2016 Two recent cases of interest to practitioners.
The evolution of hospital property tax exemptions in Illinois By John G. Locallo and Vesna Marusic State and Local Taxation, June 2016 Will Illinois eventually revert to strict constitutional interpretation in resolving the continuing uncertainties regarding charitable hospital exemptions?
IDOR Completed Items FY16 State and Local Taxation, June 2016 Items the Illinois Department of Revenue has finished.
IDOR Remaining Items FY16 State and Local Taxation, June 2016 Items still to be decided on by the Illinois Department of Revenue as of May 2016.
Items pending JCAR Ruling FY16 State and Local Taxation, June 2016 Items still pending a decision by the Legislature's Joint Committee on Administrative Rules, as of May 2016.
President Trump and the existential crisis of 7443 By James Creech Federal Taxation, June 2016 What happens when the President has a stake in litigation where he holds the power to remove the judge?
Court pulls plug on hospital exemptions… again By Donald T. Rubin State and Local Taxation, May 2016 In the case of Carle Foundation v. Cunningham Twp., et al., the court found that 15-86 of the Property Tax Code was facially unconstitutional, because it purports to grant a charitable exemption on the basis of unconstitutional criterion, and remanded the case to the trial court for further proceedings.
2015 tax legislation State and Local Taxation, April 2016 New Illinois laws of note.
2015-16 court decisions State and Local Taxation, April 2016 Recent tax-related court decisions.
Income tax legislative update State and Local Taxation, April 2016 New laws affecting income tax.
Letter from the editor By James Creech Federal Taxation, April 2016 A message from Editor James Creech.
Sales and Excise Tax 2015-2016 State and Local Taxation, April 2016 New rules related to sales and excise taxes.
Sales and income tax Q and A’s State and Local Taxation, April 2016 Two questions recently posed to the IDOR and their responses.
The worst call I have ever had with the IRS… and how the agent redeemed himself By James Creech Federal Taxation, April 2016 The author recalls a recent conversation with an agent of the IRS.
Estate of Stuller v. United States: Some lessons for horse-breeding farms By Colin Walsh Federal Taxation, March 2016 A close reading of this case uncovers some important insight regarding the need to consult with experts and who qualifies as such.
Office of the Cook County Assessor Attorney, Representative and Appraiser Meeting—February 25, 2016 By Thomas A. Jaconetty State and Local Taxation, March 2016 The presentation given by Thomas Jaconetty, Deputy Assessor, Valuation and Appeals in the Cook County Assessor Office, on February 25, 2016.
Tax scams hit home By Kathryn Garlow Federal Taxation, March 2016 Tips and suggestions to help your client avoid scams.
Tax scams hit home By Kathryn Garlow Business Advice and Financial Planning, March 2016 Tips and suggestions to help your client avoid scams.
2015 year in review—2015 tax organizer supplement By Paul A. Meints Trusts and Estates, February 2016 News and recent information to keep you up to date.
Facts about the Disabled Veterans Homeowner Exemption State and Local Taxation, February 2016 There may be some concern that disabled veterans are possibly not receiving their exemptions.
IDOR 2016 Annual Practitioner’s Meeting on March 11, 2016 State and Local Taxation, February 2016 Save the date for the Annual IDOR practitioners meeting.
Comptroller of the Treasury of Maryland v. Wynne—The Supreme Court’s decision and its fallout By Stanislaw Balazia State and Local Taxation, January 2016 The ruling potentially affects thousands of other cities, counties and states with similar tax laws and could redefine how residents can be taxed by cities, counties and states in the future.