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Writings by Jeffrey R. Pittard

Jeffrey R. “Jeff” Pittard devotes his practice to all areas of estate and wealth preservation and tax planning for high net worth individuals. He is adept at composing estate planning documents, including wills and trusts.
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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.
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Taking Advantage of Puerto Rico’s Tax Incentives (Without Drawing IRS Scrutiny) post image

Taking Advantage of Puerto Rico’s Tax Incentives (Without Drawing IRS Scrutiny)

The Commonwealth of Puerto Rico offers lucrative tax breaks that are designed to attract high-net-worth individuals and businesses to the island and boost its local economy. Under the Puerto Rico Incentives Code of 2019 (also known as Act 60), individuals can avoid taxation on Puerto Rico-sourced income if they “reside” on the island for a […]

Author: Jeffrey R. Pittard

Link to post with title - "Taking Advantage of Puerto Rico’s Tax Incentives (Without Drawing IRS Scrutiny)"
IRS Offering Withdrawal Process for Employee Retention Credit Claims post image

IRS Offering Withdrawal Process for Employee Retention Credit Claims

On October 19, 2023, the Internal Revenue Service (IRS) announced a new withdrawal process to aid businesses who erroneously filed Employee Retention Credit (ERC) claims. The new process is part of the agency’s ongoing efforts to address the influx of ineligible ERC claims and protect small businesses from aggressive marketers and scammers who misled businesses […]

Author: Jeffrey R. Pittard

Link to post with title - "IRS Offering Withdrawal Process for Employee Retention Credit Claims"
How to Avoid Employee Retention Credit Scams post image

How to Avoid Employee Retention Credit Scams

Employee Retention Credit (ERC) scams are so prevalent that the Internal Revenue Service (IRS) recently announced an immediate moratorium through at least the end of the year on processing new claims.… Employee Retention Credit (ERC) scams are so prevalent that the Internal Revenue Service (IRS) recently announced an immediate moratorium through at least the end of the […]

Author: Jeffrey R. Pittard

Link to post with title - "How to Avoid Employee Retention Credit Scams"
New Law Makes It Easier for NJ Corporations to Make Changes  post image

New Law Makes It Easier for NJ Corporations to Make Changes 

Amendments to New Jersey’s Business Corporation Act (BCA) will soon make entity conversion and domestication easier for businesses operating in the state... Amendments to New Jersey’s Business Corporation Act (BCA) will soon make entity conversion and domestication easier for businesses operating in the state. The new law (Senate Bill 142) aims to make New Jersey a […]

Author: Jeffrey R. Pittard

Link to post with title - "New Law Makes It Easier for NJ Corporations to Make Changes "
Can New Bill Help NJ Become a Crypto Industry Hub? post image

Can New Bill Help NJ Become a Crypto Industry Hub?

New Jersey lawmakers are hoping to lure cryptocurrency businesses away from neighboring New York City with more business-friendly regulations for digital asset transactions. New Jersey lawmakers are hoping to lure cryptocurrency businesses away from neighboring New York City with more business-friendly regulations for digital asset transactions. According to its sponsors, the Digital Asset and Blockchain […]

Author: Jeffrey R. Pittard

Link to post with title - "Can New Bill Help NJ Become a Crypto Industry Hub?"
IRS Asks Congress to Expand Cryptocurrency Enforcement Authority post image

IRS Asks Congress to Expand Cryptocurrency Enforcement Authority

The Internal Revenue Service (IRS) is continuing its cryptocurrency crackdown... The Internal Revenue Service (IRS) is continuing its cryptocurrency crackdown. Earlier this month, the agency asked Congress for additional funding and greater legal authority to bolster its efforts to regulate cryptocurrencies and increase tax compliance. IRS Ramping Up Crypto Enforcement As discussed in prior posts, […]

Author: Jeffrey R. Pittard

Link to post with title - "IRS Asks Congress to Expand Cryptocurrency Enforcement Authority"
IRS Targeting Cryptocurrency Platforms to Obtain Taxpayer Information post image

IRS Targeting Cryptocurrency Platforms to Obtain Taxpayer Information

The Internal Revenue Service (IRS) continues to ramp up its efforts to identify taxpayers that have failed to properly report cryptocurrency transactions... The Internal Revenue Service (IRS) continues to ramp up its efforts to identify taxpayers that have failed to properly report cryptocurrency transactions. On May 5, 2021, a California federal court authorized the IRS […]

Author: Jeffrey R. Pittard

Link to post with title - "IRS Targeting Cryptocurrency Platforms to Obtain Taxpayer Information"
Do Cryptocurrency Transactions Above $10K Have to Be Reported to IRS? post image

Do Cryptocurrency Transactions Above $10K Have to Be Reported to IRS?

The U.S. Treasury Department is looking to boost tax compliance on virtual currency by imposing a new reporting requirement on large cryptocurrency transactions… The U.S. Treasury Department is looking to boost tax compliance on virtual currency by imposing a new reporting requirement on large cryptocurrency transactions. On May 20, 2021, the Treasury released a report outlining […]

Author: Jeffrey R. Pittard

Link to post with title - "Do Cryptocurrency Transactions Above $10K Have to Be Reported to IRS?"
When Decanting Can be Used to Amend an Irrevocable Trust in New Jersey post image

When Decanting Can be Used to Amend an Irrevocable Trust in New Jersey

One of the options possible for modifying an irrevocable trust is known as “decanting”… Despite what the name suggests, it is possible to modify an irrevocable trust. One of the options is known as “decanting,” where the trustee transfers some or all of the principal and undistributed income of the trust to another trust for […]

Author: Jeffrey R. Pittard

Link to post with title - "When Decanting Can be Used to Amend an Irrevocable Trust in New Jersey"
Now that Gov. Murphy Has Signed the Economic Recovery Act, What’s Next? post image

Now that Gov. Murphy Has Signed the Economic Recovery Act, What’s Next?

On January 7, 2021, New Jersey Gov. Phil Murphy signed the New Jersey Economic Recovery Act of 2020 into law... On January 7, 2021, New Jersey Gov. Phil Murphy signed the New Jersey Economic Recovery Act of 2020 into law. The comprehensive economic incentives program is welcome news for the state’s business community, which continues […]

Author: Jeffrey R. Pittard

Link to post with title - "Now that Gov. Murphy Has Signed the Economic Recovery Act, What’s Next?"

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