June 1st, 2023
May Federal Tax Update
INDIVIDUALS In Rodgers v. Commissioner, TC Memo 2023-56, the Tax Court concluded that interest paid on a past due child support obligation constitutes income to the recipient and not additional taxfree child support. In Bibeau…
May 1st, 2023
April Federal Tax Update
INDIVIDUALS In Kiczuk v. United States, 131 AFTR2d 2023-1292, a Connecticut Federal District Court concluded that disability benefits paid to a state employee were taxfree and akin to workers compensation as the result of a…
April 1st, 2023
March Federal Tax Update
In Ahaiwe v. Commissioner, TC Summary Opinion 2023-7, the Tax Court found that the insolvency exception to reporting relief from indebtedness income did not apply when the taxpayer provided only a worksheet with “numbers on…
March 1st, 2023
February Federal Tax Update
INDIVIDUALS In Green Rock, LLC v. Commissioner, 131 AFTR2d 2023-562, an Alabama Federal District Court joined the Sixth Circuit Court of Appeals and the Tax Court in striking down the labeling of syndicated conservation easements…
February 1st, 2023
January Federal Tax Update
INDIVIDUALS In Patacsil v. Commissioner, TC Memo 2023-8, the Tax Court required a couple to report relief from indebtedness income inasmuch as they did not prove the value of their business or real estate as…
January 19th, 2023
SECURE Act 2.0: What You Need to Know
On December 29, 2022, President Joe Biden signed the SECURE Act 2.0 into law as part of the Consolidated Appropriations Act. More comprehensive than the original SECURE Act of 2019, here are a handful of…
January 1st, 2023
December Federal Tax Update
INDIVIDUALS Public Law No. 117-228, the Respect for Marriage Act, repeals references in the Internal Revenue Code and elsewhere in federal law to marriage being between a man and a woman. SECURE 2.0 Act of…
December 28th, 2022
What Financial Professionals Need to Know About The Secure Act 2.0
The Secure Act 2.0, part of the omnibus spending legislation, makes numerous changes in the retirement plan law. It raises in 2023 the usual age when minimum distributions must commence to 73. It increases the…
December 20th, 2022
35 Stein Sperling Attorneys Recognized by Super Lawyers Maryland on 2023 List
Stein Sperling is proud to announce 35 of its attorneys have been selected for inclusion on the 2023 Maryland Super Lawyers and Rising Stars lists, including attorneys on the Top 10, Top 50, and Top…
December 1st, 2022
November Federal Tax Update
INDIVIDUALS In Tillman-Kelly v. Commissioner, TC Memo 2022-111, the Tax Court found that payment to a whistleblower for retaliation against him was includable in income as humiliation and isolation did not constitute physical injury. RETIREMENT…