Mary McNulty

Oct 25, 2024 | businesstravelnews.com | Mary McNulty |Elizabeth West

Meetings The industry mourns the passing of strategic meetings expert and advocate Betsy Bondurant Meetings management trailblazer Betsy Bondurant died last weekafter a long battle with pancreatic cancer. The meetings industry, which she shapedfor the last 25 years through her pioneering work at biotech firm Amgen and thenthrough her deeply innovative and collaborative consulting business BondurantConsulting, is mourning her passing.

Jul 16, 2024 | lexology.com | Jessica Kirk |Lee S. Meyercord |Joshua David Odintz |Abbey Benjamin Garber |Kate Minnich |Mary McNulty

The U.S. Department of the Treasury and IRS on July 11, 2024, issued proposed regulations that would classify certain basket contract transactions as listed transactions. Taxpayers and material advisers participating in listed transactions must comply with disclosure and recordkeeping requirements and are subject to penalties for failure to comply.

Jul 10, 2024 | news.bloombergtax.com | Lee S. Meyercord |Mary McNulty

The IRS and Treasury Department face an uphill battle taking on related-party basis-shifting transactions, which is when a business shifts its tax basis among its assets to lower the overall amount of taxes it must pay. The proposed regulations the IRS is expected to issue would change the requirements spelled out in the federal tax code for common partnership transactions, such as distributions or sale of a partnership interest.

Oct 20, 2023 | bnanews.bna.com | Mary McNulty |Lee S. Meyercord

While it will take years for the IRS to hire enough staff to fully enforce new compliance efforts targeting partnerships and wealthy taxpayers, large partnerships should be aware of the greater federal scrutiny on the horizon. The IRS said it will send compliance letters to 500 partnerships with more than $10 million in assets and balance sheet discrepancies.

Oct 19, 2023 | news.bloomberglaw.com | Mary McNulty |Lee S. Meyercord

While it will take years for the IRS to hire enough staff to fully enforce new compliance efforts targeting partnerships and wealthy taxpayers, large partnerships should be aware of the greater federal scrutiny on the horizon. The IRS said it will send compliance letters to 500 partnerships with more than $10 million in assets and balance sheet discrepancies.