Connecticut Court Says ‘No’ to Tax Affecting but Limits the Reach of Its Ruling
R.D. Clark & Sons, Inc. v. Clark In a buyout dispute involving a Connecticut family business, an appellate court recently upheld the trial court’s decision not to tax affect the earnings of the company in valuing the departing shareholder’s interest, even though...
The IRS Is Making Small Tax Refund Interest Payments to Some People
A small payment from the IRS may be coming your way in the near future. The tax agency announced it was sending interest payments to those who filed their 2019 returns by this year's extended July 15 deadline and either received a refund in the past three months or...
Is Your Company in Compliance with Federal Anti-Discrimination Laws?
While the COVID-19 pandemic continues to be at the top of most employers minds, it’s important to not forget important employment laws and regulations. The Equal Opportunity Employment Commission (EEOC) is reminding employers to follow and be mindful of these major...
Asset-Based Appraisal Unsuitable for Fair Value Determination, Court Says
Linde v. Linde In a bitter fight between siblings over the buyout of the minority shareholder’s interest in a successful construction business, the trial court found the asset-based valuation the majority shareholder’s expert proposed was fatally flawed for at least...
Midyear Tax Planning Ideas
With the extended July 15 deadline for 2019 federal income tax returns behind us, it’s time to think about your tax situation for this year. Obviously, 2020 has been far from typical, and it is quite possible that this abnormal year has created some abnormal tax...
Synergy Deduction Purely Academic in New Delaware Appraisal Ruling
In re Panera Bread Company In a statutory appraisal case that involved the sale of a publicly traded company to a privately held entity, the Delaware Court of Chancery recently decided the deal price was a reliable indicator of fair value and a downward adjustment for...
North Carolina Court Looks to Deal Price for Fair Value in Tobacco Merger
Reynolds American Inc. v. Third Motion Equities Master Fund Ltd. The importance of Delaware appraisal jurisprudence beyond state borders was on display in a recent fair value decision out of North Carolina related to a merger involving the tobacco giant Reynolds....
What Divorcing Homeowners Need to Know
The COVID-19 pandemic has impacted nearly every facet of life — including our relationships. Some reports indicated the stress of the crisis, combined with people's close and constant contact with their spouse might be to blame for some recent divorces. A divorce is a...
Bill that Provides More PPP Flexibility Is Signed into Law
In the wake of COVID-19, Congress acted quickly to help mitigate the economic impact of the pandemic. Part of this action included the Paycheck Protection Program (PPP), which was designed to help small businesses sustain operations and keep workers employed. While...
The IRS Releases this Year’s Top Tax Scams
The IRS compiles and shares a list of common tax scams each year. This year, with the COVID-19 pandemic complicating tax matters in numerous ways, scammers are becoming more aggressive and sophisticated in their methods. Here are some of the scams you should look out...