Tax

Solving the Tax Puzzle

We provide practical tax counsel to your specific needs as businesses, individuals or tax-exempt organizations.

Our Tax Practice Group will advise you on federal, state and local tax matters and represent you in tax examinations and controversies before the Internal Revenue Service and state and local tax authorities.

Business and Investment Transactions
In addition to general tax planning, we offer transactional tax advisory services. We collaborate with other departments in the firm on tax issues involved in structuring business and investment transactions such as real estate development, mergers and acquisitions, corporate and partnership formations, and business reorganizations.

Tax-Exempt Entities
We have extensive experience in the formation of tax-exempt organizations, especially matters involving unrelated business taxable income and investments.  Our clients include educational organizations, private foundations and charities.

Estate and Gift Tax Planning
We work closely with the firm’s Trusts and Estates Practice Group to meet the needs of the firm’s individual clients for estate and gift tax planning, as well as the business succession planning requirements of owners of closely-held businesses.

Name Title Direct Dial Vcard
Ben-Ami, Andrew R. Partner Partner 212.216.8025 VCard
  • apple seeds LLC

    apple seeds LLC is a growing organization that provides indoor playground facilities, classes, birthday parties and other activities. As an emerging and growing business, apple seeds needed a business-minded legal partner who understood the challenges of being a middle market business. They needed help building the company from the ground floor up, and providing a solid foundation for future growth.  

  • Article by Andrew Ben-Ami on Significant Upcoming IRS Audit Rule Changes for Partnerships and LLC’s Featured in Wealth Strategies Journal
    July 5, 2017

    Wealth Strategies Journal featured an article by Tax partner Andrew Ben-Ami that discusses significant IRS rule changes for partnerships and LLC’s that are certain to go into effect next year. The article examines how those changes will impact the 2018 tax year and present owners with new decisions about how to handle IRS audits and any adjustments that may be required. Andrew recommends that every partnership and LLC should consider revising their agreements to adapt to the new rules since failure to do so not only may lead to disputes among partners, but could also impact buyers and sellers of partnership interests.

  • Is Your Partnership Ready for IRS Audit Changes?
    June 22, 2017

    Businesses across the nation are buzzing about Congressional action on tax reform - action that may not even occur. And yet, many partnerships and limited liability companies (LLCs) have not yet delved into significant IRS audit rule changes that are certain to go into effect next year. The changes, which will impact the 2018 tax year for partnerships and LLCs, will present owners with new decisions about how to handle IRS audits and any adjustments that may be required.

  • IRS Reduces Voluntary Correction Program Compliance Fees
    February 11, 2016

    The IRS has announced new fees for Voluntary Correction Program (VCP) submissions under the Employee Plans Compliance Resolution System (EPCRS) effective February 1, 2016.

  • IRS Announces New Audit Initiative: Compliance Review Strongly Recommended to Avoid Severe Adverse Tax Consequences
    July 9, 2014

    The Internal Revenue Service (IRS) recently announced that it will begin conducting focused audits aimed at determining compliance with Internal Revenue Code Section 409A.   Section 409A is a complex and easily overlooked provision of the tax law which can result in draconian penalties.  For this reason, we strongly recommend that our clients become familiar with the law, and review their existing documents now to avoid these penalties. 

  • State Withholding Taxes: Who, What, Where
    October 1, 2010

    When it comes to payroll issues and withholding taxes, it is easy to decide to rely on your outside payroll service to determine the correct amounts to withhold. But the reporting and withholding requirements for employee compensation can be complex when multiple state jurisdictions are involved, and a payroll service can only rely on the information that they are given; it is up to the employer to gather the relevant information.

  • Middle Class Tax Relief Act of 2010: Estate and Gift Tax Changes
    February 20, 2010

    The 
Middle 
Class 
Tax 
Relief 
Act 
of 
2010,
which 
has 
just 
gone 
into 
effect, 
will 
have 
a
 significant
impact
 on 
estate 
tax
 planning.
 It
 applies 
to 
the 
estates 
of 
those 
who 
died 
in 
2010 
and 
who
 will
die 
in
 2011
 and 
2012. 
Further
 legislation 
is 
expected 
to 
cover 
tax 
treatment 
of 
gifts 
and 
deaths
 that
 occur 
in 
2013 
and 
beyond. 
In 
the 
meantime,
you 
need 
to 
review 
your 
existing 
estate 
plans  
in
 light 
of 
the 
Act.

 

  • Tax Benefits May Mitigate Tax Losses
    July 1, 2009

    In the current economic environment, where taxpayers may be sustaining losses from a variety of transactions, both individual and business taxpayers need to consider how the tax benefits from such losses can provide some measure of relief.