The statute of limitations will depend on what causes of action you bring in a lawsuit. For example, the statute of limitations for a breach of...

Yes, an in rem proceeding is a proceeding against property. An owner or interest holder can respond to an in rem action.

You do not have to do a 1031 exchange, but usually it is advantageous because you defer tax on any gains. Here, you have a loss and can recognize...

You would file an amended tax return that accurately states your income if you are required to pay the sums back. There shouldn’t be a problem...

You can transfer the money to yourself, but the characterization of the transfer will depend on your capital account balance. A capital account is...

An S corporation should file a form 1120-S which is usually due March 15. S corporations are pass-through entities, so items of profits and losses...

New York uses two tests to determine residency: a statutory residency test (being in New York for 183 days or more) or the domicile test. Whether...

A donor can gift up to $17,000 in 2023 without incurring any gift tax liability ($34,000 for a married couple in 2023). If a donor gifts over...

An individual can gift $17,000 ($34,000 for a couple) to an individual in 2023 without incurring any gift tax liability (known as the annual gift...

Costs incurred from winding-up and complete liquidation of a partnership qualify as trade or business expenses under Section 162(a) of the Internal...