Category: Tax

Herold Law Report on the United States Supreme Court Opinion in the Case of Loper Bright Enterprises et al. v. Raimondo, Secretary of Commerce, et al., Bright Enterprises et al. v. Raimondo, Secretary of Commerce, et al., 144 S. Ct. 2244 (2024) Robert S. Schwartz, Esq. Joseph M. Lemond, Esq. Judicial Limitation of the Powers …

Robert S. Schwartz, Esq. and Joseph M. Lemond, Esq. In March we wrote to you about an unusual occasion to get IRS penalties paid money back from the federal government on account of a February U.S. Supreme Court decision in favor of the taxpayer owning overseas bank and investment accounts.  This time we point out …

Robert S. Schwartz, Esq. Governor Murphy and the New Jersey Legislature worked together this year to enact significant tax legislation. One aspect creates a property tax relief tax program for senior citizens via the Gross Income Tax Act (“GIT Act”). One aspect makes numerous changes to the Corporation Business Tax Act (“CBT Act”). In the …

The amount of tax you owe the government results from a year’s worth of tax planning. The federal and state tax laws are complicated. An experienced attorney can help you with tax planning, putting you in a better situation come tax season. Tax Laws Are Extremely Complex Tax planning is all about being proactive. You …

If the IRS sends you a letter informing you it will conduct an income tax audit, you face official, federal procedures involving your wealth and money, whether modest or great. IRS Revenue Agents conduct audits. They are trained professionals deputized to assess additional taxes, interest, and penalties against you or your business, assuming the facts …

By Robert S. Schwartz, Esq. On February 28, 2023, the United States Supreme Court held that the Internal Revenue Service (“IRS”) exceeded its statutory authority by collecting excessive penalties on federal income taxpayers for their negligent failures to timely file accurate, annual foreign financial information reports, variously known as the Foreign Bank Account Report, or …

Not the Same as President Biden’s Build Back Better Act Tax Changes Robert S. Schwartz, Esq. Inflation Reduction Act of 2022 Legislative Process On November 19, 2021, the House of Representatives passed the last version of three significant versions of H.R. 5376, President Biden’s Build Back Better Act (“BBB”). We wrote about the versions’ extensive, …

“Reading the numerous exceptions and special rules of the new federal chemical excise taxes, I easily recalled the United States Tax Court’s recent description of the federal tax law as a whole: “One way to think about tax law is to view it as a series of general rules qualified by exceptions, and exceptions to …