Legal Articles, Tax

Foreign Investment in Real Property Tax Act

In 1980, Congress enacted the Foreign Investment in Real Property Tax Act (FIRPTA), 26 U.S.C.S. 1445. The law provides that if a seller of real property is a "foreign person," the buyer must withhold a tax equal to 10% of the gross purchase price, unless an exemption applies under the law.

Three Things You Should Never Say To The IRS

IRS/Tax Lawyer Jeffrey T. Jones discusses how you must be very careful about what you say to the IRS during a dispute.

Property Tax Appeals under the "60 Day" Rule

Purchasers of property in Maryland should be aware of the "60 Day" rule for appealing property tax assessments.

Maryland Appeals Court Expands "Date of Finality" Rule

This article analyzes a recent decision by the Maryland Court of Special Appeals concerning the interpretation of the “date of finality” rule, which was thought by many practitioners to limit the consideration of comparable sales to a time frame before January 1.

Business Succession Planning—the Basics

A brief overview of what business owners should know about exit planning and transferring the business when the time is right

Starting a new business? Don't forget the legal details!

A legal to-do list for new businesses to avoid ownership problems and disputes and enhance likelihood of success.

Taxes and Divorce: Tips for Separated Illinois Couples

If you are currently separated and considering divorce in Illinois, questions on how this decision may affect your federal income tax return may cross your mind.

Capital Gains and Inheritance

You may be entitled to a tax break on property you inherit known as a "step up in basis'.

When planning tax strategies, consider Florida property division law

Financial advice that works well at tax time may prove to be disastrous when divorce enters the picture.

Maryland To Give Wealthy Residents a Tax Break

The Maryland General Assembly passed a bill last week and it is currently waiting for the Governor’s signature. The bill would increase Maryland’s estate tax exemption and would probably result in a substantial loss of tax revenue for the state.

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