Maryland

Supreme Court Rules Against North Carolina in Kaestner On State Income Taxation of Trusts: What Does This Mean for the District of Columbia, Virginia, and Maryland?

A landmark Supreme Court decision decided last week calls into question the constitutionality of local (District of Columbia, Maryland, and Virginia) fiduciary income tax regimes.  Many trusts that have been treated as “resident trusts” – and thus subject to tax in the state on all of the trust’s undistributed income, wherever sourced – because of […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

Caplin & Drysdale, Chartered Attorney’s joins IR as the exclusive Insolvency Member in US – Maryland, Washington DC & Virginia

IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Jim Wehner of Caplin & Drysdale, Chartered Attorney’s. Jim has joined IR as our exclusive Insolvency Member in US – Maryland, Washington DC & Virginia. Mr. Wehner has extensive experience with disputes arising from financial products, mergers and acquisitions, intellectual property, and […]

James P. (Jim) WehnerMember, Caplin & Drysdale, Chartered

Supreme Court Rules Against North Carolina in Kaestner On State Income Taxation of Trusts: What Does This Mean for the District of Columbia, Virginia, and Maryland?

A landmark Supreme Court decision last week calls into question the constitutionality of local (District of Columbia, Maryland, and Virginia) fiduciary income tax regimes. Many trusts that have been treated as “resident trusts” – and thus subject to tax in the state on all of the trust’s undistributed income, wherever sourced – because of the […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

DOJ National Security Division Announces Significant Appointment and Shift on FARA Enforcement March 7, 2019

U.S. Department of Justice official John C. Demers, who heads the Department’s National Security Division, announced yesterday that Brandon Van Grack will now lead the team that enforces the Foreign Agents Registration Act (“FARA”).  Mr. Demers described the appointment as signalling a shift “from treating FARA as an administrative obligation and regulatory obligation to one […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

Governor Inslee’s Presidential Campaign Triggers New Risks for Investment Advisers – March 6, 2019

Washington Governor Jay Inslee announced late last week that he is running for President, making him the first sitting governor in the 2020 presidential field.  Inslee’s entrance into the presidential race while simultaneously holding his gubernatorial office represents a new risk for investment advisers subject to the Securities & Exchange Commission’s “Pay-to-Play” Rule.   The SEC’s […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

Recent Developments in FARA: Michael Cohen Hearing – February 28, 2019

Michael Cohen’s testimony on February 27, 2018, before the U.S. House Committee on Oversight and Reform featured several heated exchanges, including one particular line of questioning about the Foreign Agents Registration Act (“FARA”) from Mark Meadows (R-NC).  Congressman Meadows suggested during the hearing that Mr. Cohen’s work for several foreign companies obligated him to register […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

What You Need to Know About the New Tax on “Excess” Nonprofit Compensation

On the last day of 2018, the IRS issued Notice 2019-09 clarifying how the new 21 percent tax on “excess” compensation impacts nonprofits.  The tax is effective for compensation paid in tax years beginning after December 31, 2017.[1]    For most nonprofits, the biggest impact will be the need to keep track of whether they […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

The New Voluntary Disclosure Practice: A Fair Compromise?

On November 29, 2018, the IRS released updated Voluntary Disclosure Practice (VCP) procedures applicable to both offshore and domestic voluntary disclosures.  The new VCP supersedes in part the IRS’s longstanding voluntary disclosure practice and fills the gap left in the absence of the Offshore Voluntary Disclosure Program (OVDP), which ended on September 28, 2018 (see […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

UPDATED: Year-End Charitable Giving Ideas: IRA Rollovers and “Bunching” Charitable Deductions

Recent tax law changes amplify the benefits of two different charitable giving ideas:  (1) “bunching” charitable giving to maximize deductions and (2) making a charitable IRA rollover.  First, donor-advised funds offer the opportunity to “bunch” charitable deductions into a single year to better take advantage of the higher standard deduction available under the 2017 Tax […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

ALERT – UPDATED: Year-End Charitable Giving Ideas: IRA Rollovers and “Bunching” Charitable Deductions

Recent tax law changes amplify the benefits of two different charitable giving ideas: (1) “bunching” charitable giving to maximize deductions and (2) making a charitable IRA rollover. First, donor-advised funds offer the opportunity to “bunch” charitable deductions into a single year to better take advantage of the higher standard deduction available under the 2017 Tax […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

Updates: Private Client

Dear Friends of the Firm, As a courtesy and for ease of reference, Caplin & Drysdale is sending this communication with links to recent articles and news, as well as upcoming events.   Alerts & Published Articles  When Opportunity Knocks: Qualified Opportunity Zone Proposed Regulations Released Caplin & Drysdale Client Alert October 22, 2018 EXPERT ANALYSIS: […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered