IRS’s Proposed Estate Tax “Clawback” Regulations

In November 2017, the IRS released proposed regulations clarifying the estate tax treatment of large lifetime gifts made now, while the federal estate and gift tax exemption is temporarily increased thanks to the Tax Cuts and Jobs Act of 2017.  These proposed regulations, if they go into effect as drafted, provide an opportunity for wealthy taxpayers to lock in the temporarily increased exemption by making large lifetime gifts.

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Current State of the Estate Tax: Sen. Elizabeth Warren’s Presidential Run and Tax Reform 2.0

In light of Sen. Elizabeth Warren’s (D-Mass) New Year’s Eve announcement that she is running for President, thus kicking off not only the new year, but also apparently the formal beginning of the Presidential campaign season, we thought it timely to consider the most recent estate tax proposal of Sen. Warren, and how it compares to the current state of the estate tax.   

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Parsing the Parking Pickle: IRS Issues New Guidance on Employee Parking UBIT

The IRS has issued preliminary guidance on an unexpected and controversial provision of the Tax Cuts and Jobs Act (the “Act”): a new UBIT tax on non-profit employee parking.

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Friendly Reminder: NYS Minimum Wage Rate and Minimum Salary Level for Exempt Employees Increase on December 31, 2018

In 2016, New York State Department of Labor adopted a schedule of increases to both the minimum wage rate for hourly workers and the minimum salary level for exempt executive and administrative employees.  The increases are scheduled to take effect each year on New Year ’s Eve and are specific to the employer’s geographic location and size.

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Attorney General Issues Guidance on Sale of Non-Profit Nursing Homes

Earlier this month, the New York Attorney General issued a new guidance document regarding the sale of non-profit nursing homes to for-profit buyers.  

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This website presents only general information not intended as legal advice. Although we encourage calls, letters and emails from prospective clients, please keep in mind that merely contacting Harter Secrest & Emery LLP (HSE) does not establish an attorney-client relationship between us. Confidential information should not be sent to HSE until you have been notified in writing by HSE that a formal attorney-client relationship has been established. Information sent to us before then may not be treated as confidential by HSE or the court.

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