The U.S. Supreme Court Will Soon Hear Arguments in the Case of Tyler v. Hennepin County

Polselli v IRS. What Will the Supreme Court’s Decision Be?

Polselli v IRS. What Will the Supreme Court’s Decision Be? According to the IRS, Remo Polselli underpaid his federal taxes for over ten years. He currently owes $2 million in taxes. In the search for his assets, the IRS issued summonses demanding records from his wife’s bank and the law firm’s banking records where he

Deciphering the SALT Workaround

The state and local tax (SALT) deduction permits taxpayers who itemize when filing federal taxes to deduct certain taxes paid to state and local governments. However, the 2017 Tax Cuts and Jobs Act imposed a $10,000 SALT itemized deduction limit. This affected California in particular because of the high-income tax rates in the state. What

Tax Cuts and Jobs Act of 2017

By R. Zebulon Law, Esq. LL.M., CPA This morning (December 22, 2017), President Trump signed H.R. 1, the Tax Cuts and Jobs Act.  This is the most significant tax legislation in 30 years, and we wanted to share some of our initial impressions and observations with our clients and friends. Probably the most signification change

New Deed Recording Tax

Dear friends, family and clients: We wanted to make you aware of a recent legislative change that will go into effect in the new year. The California State Senate passed the Building Homes and Jobs Act (SB-2). The bill’s purpose is to provide funding for affordable housing in California, it will be funded by an

IRS Extends Portability Deadline

November 2017 Law & Stein LLP wants to remind our clients, friends, and families that on June 26, 2017, the IRS issued Internal Revenue Bulletin 2017-26, which essentially extended the deadline to file certain estate tax returns to January 2, 2018. This is an interesting opportunity, which in some cases, could help save some estate