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Entries tagged “tax”

IRS Guidance Provides Flexibility for Disaster-Related Extension of OZ Working Capital Safe Harbor

im-report IRS Guidance Provides Flexibility for Disaster-Related Extension of OZ Working Capital Safe Harbor Debbie A. Klis · April 13, 2021

The Internal Revenue Service (IRS) will publish in April 14, 2021’s Federal Register a notice of proposed rulemaking for the opportunity zones (OZ) incentive that provides flexibility in the 24-month extension of the working capital safe harbor in the case of federally declared disaster areas. The proposed rule that would also provide requirements that certain…

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Bi-Partisan Legislation Introduced to Extend OZ Investment Period to 2028

im-report Bi-Partisan Legislation Introduced to Extend OZ Investment Period to 2028 Debbie A. Klis · February 21, 2021

House of Representatives Propose Legislation to Extend the Opportunity Zone Tax Deferral for Two Additional years. The Opportunity Zones Extension Act would extend the capital gains tax deferral date to permit the deferral of capital gains until the end of 2028. This Bi-Partisan legislation is intended to attract additional private sector investment in underserved communities.…

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IRS Notice Extends Several Opportunity Zone Investment Deadlines

im-report IRS Notice Extends Several Opportunity Zone Investment Deadlines Debbie A. Klis · January 20, 2021

The Internal Revenue Service (IRS) issued Notice 2021-10 on January 19, 2021 that extends several deadlines related to investments in qualified opportunity zones (QOZ) and by qualified opportunity funds (QOFs). 180-Day Window Extended.  Of particular importance, Notice 2021-10 provides an extension to taxpayers’ 180 day reinvestment window in QOFs due to the COVID-19 pandemic.  Henceforth,…

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Rimon welcomes Steven P. Eichel as a Corporate and Tax Partner in its Boston office

news Rimon welcomes Steven P. Eichel as a Corporate and Tax Partner in its Boston office Steven P. Eichel · December 16, 2020

Boston, MA – Rimon is pleased to welcome Steven P. Eichel as a Corporate and Tax Partner in the firm’s Boston Office.  Mr. Eichel is the 34th Partner to join Rimon in 2020. He joins the firm from Saul, Ewing, Arnstein & Lehr LLP, where he was also a Partner. Mr. Eichel is a highly versatile business and tax attorney who represents clients in multiple…

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IRS Voluntary Disclosure Practice – Internal Revenue Manual Updated Recently

insights IRS Voluntary Disclosure Practice – Internal Revenue Manual Updated Recently Melinda Fellner · December 10, 2020

You may know that the IRS Offshore Voluntary Disclosure Program (“OVDP”) closed, leaving taxpayers who did not fit within the confines of the streamlined programs with scant options for disclosure. As such, anyone who could not certify under penalties of perjury that their failure to report, disclose or pay tax was not willful, was left twisting in the…

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2020 National Cannabis Business Symposium

events October 23, 2020

Business Toolbox for Surviving/Growing/Expanding Business 9:55 AM – 10:45 AM, October 27, 2020 At CalCPA and COPCA’s upcoming National Cannabis Business Symposium, Rimon partner Paul Jasper will discuss insolvency options for cannabis companies and their creditors, explaining the pros and cons of bankruptcy as well as assignments for benefit of creditors and receiverships for licensed cannabis companies and…

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Insurance Coverage and the Coronavirus

insights Insurance Coverage and the Coronavirus Jill Haley Penwarden · March 31, 2020

Virtually every business is suffering losses due to the coronavirus pandemic, and many are looking to their insurance policies in hopes of relief. Whether coverage will be available will depend on the types of policies in place, as well as the specific coverage wording and exclusions to each policy. Every insurance policy is different, and policyholders will…

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Rimon Partner, Brent Nelson, Co-Writes Article on Stack Business and Charitable Deductions for Maximum Savings

insights Rimon Partner, Brent Nelson, Co-Writes Article on Stack Business and Charitable Deductions for Maximum Savings Brent Nelson · November 8, 2019

Rimon’s Brent Nelson co-writes part two of an article on stacking business and charitable deductions for maximum savings, and drastically magnifying the power of your clients’ charitable dollars. The Pass-Through Income Deduction under Code Section 199A (“199A Deduction”) allows taxpayers to deduct up to 20% of their pass-through business income. However, the deduction is either eliminated or limited…

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Pass-Through and Charitable Deductions Explained

insights Pass-Through and Charitable Deductions Explained Brent Nelson · October 5, 2019

Rimon’s Brent Nelson co-writes an article on pass-through and charitable deductions. An overview of how these two deductions function, with an eye toward stacking their benefits. The Pass-Through Income Deduction under Code Section 199A (199A Deduction) allows taxpayers to deduct up to 20% of their pass-through business income. However, the deduction is either eliminated or limited…

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Rimon Partner Susan Klein Recognized by Women in Tax Leaders by Euromoney’s International Tax Review, Again

news Rimon Partner Susan Klein Recognized by Women in Tax Leaders by Euromoney’s International Tax Review, Again Susan F. Klein · November 2, 2018

Rimon’s Susan Klein was listed, for the third consecutive year, in Women in Tax Leaders by Euromoney’s International Tax Review. Women in Tax Leaders by Euromoney’s International Tax Review lists the women advisers who are making an impact in their specialized jurisdictions and industries. The women listed are clearly leaders in tax and have a proven track…

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