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Event

Hot Topics in State Taxation

(co-presenter) Annual State Tax Meeting, Detroit and Western Michigan Chapters of the Tax Executives Institute, East Lansing, Mich.

Event

Personal Property Tax Updates & Changes: What’s New?

Michigan Association of Certified Public Accountants: Management Information & Business Show

Location:

Novi, Mich.

Event

Platinum Adventures Tax Seminar

Wintrust Community Banks

Location:
Lake Forest, Ill.
Event

Foreign Investment in U.S. Business: U.S. Tax Developments and Blocker Structures

TerraLex 2019 Global Meeting

Location:
Phoenix, Ariz.
News Release

Eight Schiff Hardin practice areas earned a National Tier 1 ranking on the 2017 edition of the U.S. News – Best Lawyers® “Best Law Firms” list

The firm also earned 30 Metropolitan Tier 1 rankings across its Ann Arbor, Chicago, Dallas, New York, San Francisco, and Washington, D.C. offices.

News Release

Schiff Hardin Practice Groups Earn Several U.S. News – Best Lawyers "Best Law Firms" Tier 1 Rankings (2016)

Eight Schiff Hardin practice areas earned a National Tier 1 ranking on the 2016 edition of U.S. News – Best Lawyers "Best Law Firms" list.

News Release

Six Schiff Hardin Lawyers Named to 2016 Michigan Super Lawyers, Rising Stars Lists

The Super Lawyers selection methodology includes a statewide nomination process, peer review by practice area, and independent research on candidates.

News Release

2018 Michigan Super Lawyers, Rising Stars Recognized Three Schiff Attorneys

Schiff Hardin LLP is pleased to announce that three attorneys have been named to the 2018 Michigan Super Lawyers and Rising Stars lists.

News Release

Schiff Hardin Adds Tax Partner Olga Bogush in New York

Transactional Tax Practice Adds Depth to Firm’s M&A, Private Equity, and Finance Capabilities

News Release

Schiff Hardin Earns 38 Top-Tier Rankings by U.S. News – Best Lawyers

Schiff Hardin announced today that the firm earned top recognition for its marquee practices nationally and in key markets in the 2018 edition of U.S. News – Best Lawyers® “Best Law Firms.”

News Release

Schiff Hardin Recognized with 40 Top-Tier Rankings in U.S. News “Best Law Firms” Report

Schiff Hardin announced today that the firm has received 40 top-tier rankings and national recognition for its premier practices in the 2019 edition of U.S. News – Best Lawyers® “Best Law Firms.”

In The News
News Release

Schiff Attorneys Recognized in Michigan Women’s Edition for Fifth Year in a Row

Partners Joanne Faycurry and Suzanne Wahl have been included in the 2019 Michigan Women’s Edition Super Lawyers and Rising Stars lists for the fifth consecutive year.

News Release

Schiff Hardin Advises Wintrust on Three Year-End Acquisitions

Schiff Hardin LLP advised Wintrust Financial Corporation (Nasdaq: WTFC) on the recent completion of three bank and financial institution acquisitions.

News Release

Schiff Ranked as “Law Firm of the Year” in Construction-Litigation and Earns 45 “Best Law Firms” Rankings

Schiff Hardin LLP announced today that the firm has received 45 top-tier rankings and national recognition for its premier practices in the 2020 edition of U.S. News – Best Lawyers® “Best Law Firms.”

News Release

Best Lawyers Recognizes 59 Schiff Attorneys, Six “Lawyers of the Year,” and 21 Ones to Watch

Schiff Hardin LLP is pleased to announce that 59 attorneys have been listed in the 2021 edition of The Best Lawyers in America, with six attorneys also being named a “Lawyer of the Year” in their respective areas of practice and location.

News Release

Bogush Appointed to TerraLex Tax & Wealth Services Practice Group Leadership

Schiff Hardin LLP is pleased to announce that Partner Olga Bogush has been appointed to Practice Group Leadership in Tax & Wealth Services by TerraLex, a global network of law firms and attorneys.

News Release

Three Partners Named to Michigan 2020 Super Lawyers and Rising Stars Lists

Schiff Hardin LLP is pleased to announce that three attorneys have been named to the Michigan Super Lawyers and Rising Stars lists for 2020.

News Release

Two Partners Recognized in 2020 Michigan Women’s Edition Super Lawyers and Rising Stars

Schiff Hardin is pleased to announce that Partners Joanne Faycurry and Suzanne Wahl have been included in the 2020 Michigan Women’s Edition Super Lawyers and Rising Stars lists for the sixth consecutive year.

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Trending Legal Issue
Trending Legal Issue
Alert

Alabama Tax Regulation to Challenge Quill Physical Presence Standard

The State of Alabama is now enforcing a regulation that directly challenges a cornerstone of state sales tax law and policy.

Alert

Colorado’s Use Tax Notification Statute May Become a Model for Other States

Earlier this month, the Supreme Court declined to hear an appeal challenging Colorado’s use tax notification statute. This decision could inspire other states to impose similar notification requirements on out-of-state vendors.

Alert

Illinois Clarifies the Rules on Taxing Shipping and Delivery Charges

As of April 1, 2016, the Illinois Department of Revenue adopted regulations that clarify when a seller must collect sales tax on shipping and delivery charges.

Alert

Tax Talk: When Reporting Gifts at Discounted Values, a Qualified Appraisal is Crucial

In this article, we explain what constitutes a qualified appraisal and identify some pitfalls to avoid.

Alert

The Fifth Pillar and FinCEN’s New Rules on Customer Due Diligence

FinCEN’s New Rules on Customer Due Diligence are not only significant in substance and scope, but will also require a substantial investment in time and money as covered financial institutions prepare to implement the new (fifth) pillar for an AML program in time for required compliance on May 11, 2018.

Alert

Are the Meals You Provide to Your Employees Fully Deductible?

Most businesses know that the tax code generally allows them to deduct from income all “ordinary and necessary” expenses incurred in running the business.

Alert

Comply or Resist? Responding to IRS Summonses Just Got More Complicated

The IRS’s power to obtain documents, electronically stored information, and even sworn testimony has often been likened to the broad investigative power of a grand jury.

Alert

Employer-Sponsored Charities May Allow Businesses to Help Employees Affected by Recent Disasters

The destruction caused by Hurricanes Harvey, Irma, and Maria and the wildfires in California have led to an outpouring of charitable gifts and donations.

Alert

Final Tax Reform Bill Bars Taxpayers from Prepaying State and Local Income Tax

The final tax reform bill expected to pass this week not only curtails the deduction for state and local income taxes and property tax, but also eliminates individuals’ ability to claim an itemized deduction by prepaying their 2018 state and local income taxes in 2017.

Alert

Funding Hurricane Relief: Limitations Suspended for Charitable Contributions

The President signed into law the Disaster Tax Relief and Airport and Airway Extension Action of 2017 last week, which provides tax incentives for those making charitable contributions to assist in the relief efforts underway in areas affected by Hurricanes Harvey, Irma, and Maria.

Alert

IRS Advisory May Limit Individuals’ Ability to Deduct 2017 Property Tax Prepayments

The IRS published guidance yesterday that may limit individuals’ ability to deduct prepayments in 2017 of real property tax not assessed until 2018 or later.

Alert

New Partnership Audit Rules Will Radically Change Partnership Tax Examinations

The rules for auditing partnership income tax returns will change radically beginning in 2018.

Alert

Tax Reform: House and Senate Have Agreement in Principle on Tax Reform

U.S. House and Senate Republicans have reached a deal that reconciles the differences between the House and Senate tax reform plans, paving the way for a final vote next week and final passage of tax reform by Christmas.

Alert

Treasury to Withdraw Proposed Regulations Restricting or Eliminating Valuation Discounts

The U.S. Department of the Treasury plans to withdraw proposed regulations issued in August 2016 that would have narrowed or eliminated taxpayers’ ability to claim valuation discounts on transfers of interests in family-controlled entities.

Article

Why Not Evasion?

Tax Notes

Alert

Eat, Drink, and Deduct (50 Percent At Least)

In December 2017, Congress passed major changes to the tax laws.

Alert

IRS News Release on Prepaid 2018 Property Taxes is a Position Statement, Not Policy

Recently, one particular news release has sparked much confusion: the one that says the IRS thinks taxpayers cannot deduct prepaid 2018 property taxes on their 2017 tax returns.

Alert

It’s Not Just About Sales Taxes

With its decision in South Dakota v. Wayfair, the U.S. Supreme Court substantially eliminated the distinction between brick-and-mortar business and e-commerce, for purposes of state laws obligating sellers to collect and remit sales taxes.

Alert

New Pass-Through Deduction Presents Tax Planning Opportunities for Pass-Through Owners

The Tax Cuts and Jobs Act (the “Act”) will dramatically change the tax treatment of income from many partnerships, limited liability companies, and S corporations.

Alert

Qualified Opportunity Zones: An Introduction to New Opportunities under the 2017 Tax Cuts and Jobs Act

The IRS and Treasury Department issued proposed regulations that explain how investors can take advantage of the statute’s unique opportunity for deferral and exclusion of capital gains taxes by investing in designated distressed communities or QOZs.

Alert

Supreme Court Could Soon Reshape Rules for Out-of-State Sales Tax

The U.S. Supreme Court agreed on Friday to hear a case that could fundamentally reshape the rules concerning collection of sales tax on out-of-state sales.

Alert

We’re Not in South Dakota Anymore, Toto

At first glance, one might conclude that the U.S. Supreme Court’s decision in South Dakota v. Wayfair would have an immediate impact only on those out-of-state vendors that sell goods and services into South Dakota.

General

Top Articles on Tax Reform

Tax returns filed in 2019 are the first to fall under the new regulations of the Tax Cuts and Jobs Act. Read more about our coverage on tax reform and its effects on businesses and individuals.

Alert

CARES Act: Key Tax Provisions Offering Relief to Businesses and Individuals

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, estimated to cost more than $2 trillion dollars, contains multiple tax-related provisions intended to offer relief to both businesses and individuals. Here we outline key provisions of which businesses and individuals should be aware.

Alert

Changes Proposed to Paycheck Protection Program in Newly Passed House Bill

The U.S. House of Representatives earlier today passed H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020, in a 417-1 bipartisan vote.

Alert

Illinois Announces Two-Month Sales Tax Payment Relief for Small Bars and Restaurants

On March 19, 2020, as part of the State of Illinois' efforts to combat disruptions caused by the coronavirus pandemic, the Illinois Department of Revenue announced that it is waiving for two months all penalties and interest that would be imposed on late payments by registered Illinois retailers operating small eating and drinking establishments for sales tax liabilities that are due for the February, March, and April 2020 reporting periods.

Alert

IRS Delays Tax Payment Deadline, But Be Certain to File on Time

U.S. Treasury Secretary Steven Mnuchin announced today that individual taxpayers can defer federal tax payments of up to $1 million for 90 days.

Alert

IRS Formalizes Federal Income Tax Relief and Delayed Tax Payment Deadline

The IRS released Notice 2020-17 on March 18, 2020, formalizing the relief announced the previous day by U.S. Treasury Secretary Steven Mnuchin, which extended the time to pay certain taxes by 90 days.

Alert

IRS Formalizes Tax Filing Deadline to July 15

Late on Friday, the IRS formalized U.S. Treasury Secretary Steven Mnuchin’s announcement earlier in the day regarding the extension of the tax filing deadline to July 15 by issuing Notice 2020-18, which contains several important clarifications.

Alert

IRS Guidance: No Tax Deductions Allowed for PPP-Paid Expenses

On April 30, the IRS released guidance providing that Paycheck Protection Program (PPP) loan borrowers may not deduct costs that are paid for with loan proceeds that are forgiven under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Alert

IRS Updates Operational Status and Introduces People First Initiative (and Illinois Extends Tax Filing and Payment Deadline)

Earlier this week, the IRS released updates on the status of its operations as the COVID-19 outbreak continues and also on the IRS’s new People First Initiative. In addition, Illinois extended its tax filing and payment deadline (but not the deadline to make estimated tax payments) to match the IRS July 15 deadline.

Alert

Senate Approves Additional Funding for Small Businesses

Earlier today, the U.S. Senate passed a bill appropriating additional funding to the Paycheck Protection Program, which ran out of funds in the middle of last week. The House is expected to pass the measure on Thursday, after which President Trump is expected to sign it into law.

Alert

Treasury Secretary Extends Tax Filing Deadline to July 15

In a tweet this morning, U.S. Treasury Secretary Steven Mnuchin announced that the IRS is extending the tax filing deadline from April 15 to July 15.