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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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    AICPA Urges IRS to Change Home Office Deduction 'Safe Harbor' Provision post image

    AICPA Urges IRS to Change Home Office Deduction 'Safe Harbor' Provision

    Thousands of business owners run operations directly out of their residence each year, and many reduce their tax liabilities to the Internal Revenue Service by claiming a home office deduction. While the write-off is perfectly legal and valid under federal tax law, home office deductions are also one of the most heavily scrutinized by IRS […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "AICPA Urges IRS to Change Home Office Deduction 'Safe Harbor' Provision"
    Property Owners - Be Careful What You Wish For post image

    Property Owners - Be Careful What You Wish For

    In these times of falling property values, many property owners are quick to file tax appeals to reduce their tax burden. Most of these appeals have merit. However, be mindful of the fact that a municipality has the right to file a counterclaim. Also, under certain circumstances, a municipality can argue for an increase in […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "Property Owners - Be Careful What You Wish For"
    Is “Secret” Business Court Coming Back to Delaware? post image

    Is “Secret” Business Court Coming Back to Delaware?

    Many corporations call Delaware home because of its business friendly legal environment. It is an attractive place to incorporate a business, and it can also provide substantial court decision precedents for corporate disputes, making it more predictable as to what a Delaware court may do in deciding a disputed business matter as compared to states […]

    Author: Dan Brecher

    Link to post with title - "Is “Secret” Business Court Coming Back to Delaware?"
    Judge to Determine Whether Corbett's Lawsuit Against the NCAA Should Continue post image

    Judge to Determine Whether Corbett's Lawsuit Against the NCAA Should Continue

    U.S. District Judge Yvette Kane told Pennsylvania Gov. Tom Corbett that he will make a determination about whether his lawsuit against the NCAA holds merit or warrants dismissal within the coming weeks. Corbett filed a case against the NCAA in January, arguing that the $60 million in fines the conference imposed on Penn State for […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "Judge to Determine Whether Corbett's Lawsuit Against the NCAA Should Continue"
    Hedge Fund's Real Estate Unit Placed into Bankruptcy to Avoid Litigation post image

    Hedge Fund's Real Estate Unit Placed into Bankruptcy to Avoid Litigation

    Hedge fund billionaire John Paulson has placed the real estate unit of his hedge fund into bankruptcy to avoid litigation, including a costly lawsuit brought against it by a lender. Five Mile Capital Partners recently brought a suit against executives of Paulson’s MSR Hotels & Resorts Inc. – the real estate arm of Paulson & Co. […]

    Author: Joel R. Glucksman

    Link to post with title - "Hedge Fund's Real Estate Unit Placed into Bankruptcy to Avoid Litigation"
    IRS Goes After Billionaire Sumner Redstone for 1972 Tax Gift post image

    IRS Goes After Billionaire Sumner Redstone for 1972 Tax Gift

    Billionaire Sumner Redstone may be on the hook for a large sum of money relating to a tax gift he made to his children in 1972 if the Internal Revenue Service has its way. The federal agency claims Redstone owes $1.1 million in taxes, penalties, and interest relating to stock given to his children 41 […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "IRS Goes After Billionaire Sumner Redstone for 1972 Tax Gift"
    Court Grants ResCap Extension to File Reorganization Plan post image

    Court Grants ResCap Extension to File Reorganization Plan

    A U.S. Bankruptcy Court has granted Residential Capital’s request for a 30-day extension in filing its reorganization plan. During this period, the company will be unencumbered by the risk of rival proposals. In a U.S. Bankruptcy Court in Manhattan, Judge Martin Glenn addressed the progress that’s already been made in the contentious and ongoing bankruptcy dispute, and […]

    Author: Joel R. Glucksman

    Link to post with title - "Court Grants ResCap Extension to File Reorganization Plan"
    Former NBA Union Exec Filed a Lawsuit Against President Derek Fisher post image

    Former NBA Union Exec Filed a Lawsuit Against President Derek Fisher

    Billy Hunter, ousted National Basketball Players Association executive director, filed a lawsuit against the union and its new president, Derek Fisher, in a California Superior Court. Billy Hunter is suing the parties for defamation and breach of contract stemming from his dismissal, alleging that a secret deal reached between Fisher and publicist Jamie Wior to end the 2011 […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "Former NBA Union Exec Filed a Lawsuit Against President Derek Fisher"
    IRS and the Tea Party post image

    IRS and the Tea Party

    One of the many controversies in Washington, D.C. is the dispute arising out of the Internal Revenue Service’s extensive review of  applications of exempt organizations using the names with words such as “Tea Party,”  “Patriots” and “We The People.”  I spent some time explaining to a client how the review process between the IRS and […]

    Author: James F. McDonough

    Link to post with title - "IRS and the Tea Party"
    Data Breach Can Be Prepared For And Stopped When it Comes Your Business post image

    Data Breach Can Be Prepared For And Stopped When it Comes Your Business

    Last month, Associated Press’ Twitter account fell victim a data breach after hackers sent a fake tweet from their account referencing an explosion at the White House. The tweet caused the Dow Jones Industrial Average to plunge more than 100 points within seconds. This latest incident highlights not only how disruptive a  data breach can […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "Data Breach Can Be Prepared For And Stopped When it Comes Your Business"
    Cengage Considering Bankruptcy Proceedings post image

    Cengage Considering Bankruptcy Proceedings

    Cengage Learning, the elite academic content and software corporation, is strongly considering seeking bankruptcy proceedings following the release of disappointing third quarter financial results. In a conference call with reporters, Cengage CEO Michael Hansen explained that the company was forced to borrow the whole of its remaining available credit limit – approximately $430 million – in […]

    Author: Joel R. Glucksman

    Link to post with title - "Cengage Considering Bankruptcy Proceedings"
    Will Bitcoins Become New Strategy for Online Sports Gamblers? post image

    Will Bitcoins Become New Strategy for Online Sports Gamblers?

    Bitcoins have become a popular topic of discussion recently, as lawmakers and regulators address the complex questions revolving around this digital currency. Bitcoins have become a popular topic of discussion recently, as lawmakers and regulators address the complex questions revolving around this digital currency. For example, the virtual Bitcoins are now being used more frequently […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "Will Bitcoins Become New Strategy for Online Sports Gamblers?"

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