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Davis Brown Tax Law Blog

The Davis Brown Tax Law Blog provides clients with updates and analysis of tax law - including asset and stock purchase/sale transactions, public and private bond financing, tax credit financing and international tax law.

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Tax Law Blog: Updates on the Estate of Prince - October 17, 2016

Since my last blog post, the district court judge has dismissed numerous claims of people alleging they are related (including one who claimed she was secretly married to Prince), and has ordered blood tests for the few remaining individuals. Read More »


United States Olympians Score a Win against the 'Victory Tax' - October 13, 2016

On October 7, 2016, President Obama signed into law the United States Appreciation for Olympians and Paralympians Act. The Act amends Internal Revenue Code § 74, which governs the taxation of prizes and awards, to exempt "the value of any medal awarded in, or any prize money received from the United States Olympic Committee on account of, competition in the Olympic Games or Paralympic Games. Read More »


Form 1095-C and I-9 Compliance: How to handle "mismatches" - July 26, 2016

Employers complying with the Affordable Care Act ("ACA") by filing Form 1095-C increasingly face another question: Are they in compliance with their I-9 obligations? Read More »


Tax Law Blog: IRS "Free Speech" Act Seeks to Make Charitable Contributions Confidential - June 14, 2016

On April 26, 2016, a bill intended to modify the reporting requirements for tax-exempt organizations was introduced in the House. The bill, called the "Preventing IRS Abuse and Protecting Free Speech Act" (H.R. 5053) seeks to amend the Internal Revenue Code to prohibit the IRS from requiring a tax-exempt organization to include in its annual returns the name, address, or other identifying information of any contributor. Read More »


Tax Law Blog: More Issues for Prince's Lack of Estate Planning - May 31, 2016

I'm not typically one to follow pop culture, but in the case of Prince's lack of an estate plan, I'm following closely how this can serve as an example of how not to do your estate plan. Read More »


Tax Law Blog: Sports and Fitness Bill Would Provide Tax Advantages for Gym Memberships and Sports Equipment - May 19, 2016

As the summer months approach, and many of us begin crawling back out into the sun, the Personal Health Investment Today Act ("PHIT") remains in Congressional hibernation. Introduced in the House on March 3, 2015, the PHIT Act seeks to include certain qualified fitness and sports expenses into the definition of a medical expense. Read More »


Tax Law Blog: Prince's Estate Plan (or lack thereof) - April 29, 2016

Prince died April 21 at the age of 57. This week, his estate planning is making the news, or as we are learning, maybe his lack of an estate plan. News sources are reporting that court documents filed earlier this week indicate Prince died intestate, meaning he did not have a will. Read More »


Tax Law Blog: Tax Brackets: Revisiting the Tax on Gambling Winnings just in Time for the NCAA Tourney - March 15, 2016

March Madness is upon us and, at least until Thursday, all brackets have yet to be busted. When completing your bracket for your office pool or a pick 'em group with friends, keep in mind the tax consequences if you hope to cash in on your bracketology skills with more than just bragging rights. Read More »


Tax Law Blog: How the Change in IRS Partnership Audit Rules will Impact Partnerships and LLCs - February 19, 2016

With the Bipartisan Budget Act of 2015, H.R. 1314 (the "Act"), enacted on November 2, 2015, Congress has introduced some major changes affecting partnerships (including LLCs taxed as partnerships), replacing the current Tax Equity and Financial Responsibility Act ("TEFRA") partnership IRS audit rules. Read More »


Tax Law Blog: Last Minute Tax Extenders - 2015 Edition - December 22, 2015

The Protecting Americans from Tax Hikes Act of 2015 ( "PATH") was signed into law on Friday, December 18. Similarly to last year, certain provisions of the tax code had expired and are just now being extended to apply for the 2015 tax year. Read More »


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