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Is an Employee Stock Ownership Plan (ESOP) Right for Your Business?

Let’s Talk About Tax

October 15, 2021

Many business owners, especially owners who are thinking of selling their business, wonder if an ESOP is a good ownership transition option for them. The answer is not always easy to determine but an ESOP is something that should be explored.

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A Call to Action Over the Minnesota Department’s Proposed Rule on Audit Records

Let’s Talk About Tax

October 7, 2021

Having spent more than a decade working with taxpayers and Department employees on sales and use tax audits and refund requests, I find that responding to documentation requests from the Department can either be an exercise in pragmatism or an exercise in preventing auditors from murdering a taxpayer’s business by a thousand cuts. The reality is that accumulating and providing documentation is easier for some taxpayers than for others. Similarly, the requirements laid out by some states, or by some auditors, are more burdensome than by others.

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Can the IRS Really Take My House?

Let’s Talk About Tax

October 1, 2021

One of the largest sources of stress for a taxpayer with significant federal tax debts is whether the IRS can take his or her house. For many taxpayers, the family residence is the most important source of their wealth. In addition, it is not just their house, but their home—a source of happiness and joy and family community. The prospect of losing a home therefore not only threatens financial loss, but it is often emotionally taxing as well.

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Is a Legislative Crackdown Coming on Third Party Releases in Bankruptcy Plans?

The Restructuring Report

September 24, 2021

Third-party releases headline news stories about major chapter 11 cases, including Purdue Pharma and the Boy Scouts of America. Will Congress consider a bill that would restrict the use of third-party releases?

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Federal District Court of Minnesota Holds that Disgorgement of Chapter 11 Professional Fees Not Allowed

The Restructuring Report

September 24, 2021

When a case is administratively insolvent, can a trustee force estate professionals to disgorge compensation paid pursuant to a court’s order approving such compensation?

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The Importance of State Laws and the Evidentiary Record in Fraudulent Transfer Analysis

The Restructuring Report

September 24, 2021

A recent court decision, Mendelsohn v. Roslyn, provides important lessons for pleading and proving fraudulent transfer claims.

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Are 501(c)(3) Organizations Exempt from Minnesota Property Tax?

Let’s Talk About Tax

September 23, 2021

Many 501(c)(3) organizations receive a property tax statement on a newly acquired property and ask: “As a 501(c)(3) organization, aren’t we exempt from property tax?”

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Tax Issues in the Use or Disposition of International Intangibles: The Good, the Bad, and the Ugly (Part II)

Let’s Talk About Tax

September 16, 2021

This week, we turn to international transactions that involve licenses or the provision or performance of e-commerce services.

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Tax Issues in the Use or Disposition of International Intangibles: The Good, the Bad, and the Ugly (Part I)

Let’s Talk About Tax

September 9, 2021

The transfer or use of intangibles generally is a complicated area of taxation, and one that continues to evolve.

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When It Comes to Software, You Better Watch Your SaaS

Let’s Talk About Tax

September 3, 2021

As I ask organizations, big and small, what sales and use tax issues cause them the biggest headaches, the answers are overwhelmingly the same – taxability and apportionment of both software and direct mail. I’m going to save direct mail for another day. But for those who are unconcerned about your organization’s treatment of software, I’m here today to read you the riot act.

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