David S. Griffel

Aug 1, 2024 | mondaq.com | Phillip Azzollini |Michael Didiuk |Melissa Goldstein |David S. Griffel

On July 24, 2024, the US Department of Treasury's Financial Crimes Enforcement Network ("FinCEN") issued updates to its Frequently Asked Questions ("FAQs") 1 regarding the beneficial ownership information ("BOI") reporting requirements of the Corporate Transparency Act (collectively, with its implementing regulations, the "CTA").2 These FAQs provide (i) clarity on the type of taxpayer identification number ("TIN") information required to be reported by an entity that is disregarded as an...

Feb 24, 2024 | mondaq.com | David S. Griffel |David S. Wermuth |Sarah McNeill

Schulte Roth & Zabel partners David Griffel and David Wermuth with associate Sarah McNeill authored the Hedge Fund Law Report article, "IRS Wins Round One Over Meaning of 'Limited Partner' for Self-Employment Income Purposes." They explored the November 2023 court ruling in Soroban Capital Partners, LP v. Commissioner ("Soroban"), which portends to widen the applicability of self-employment taxation to state law limited partners of flow-through operating businesses, such as private fund managers.