Alston & Bird Forms COVID-19 Coronavirus Task Force
In case you missed it, Alston & Bird has formed a working group to advise clients on the business and legal implications of the COVID-19 coronavirus.
Spanning several Alston & Bird practices – including health care, corporate governance, capital markets and securities, labor and employment, litigation, tax, and environmental – the Coronavirus Task Force can give insight and guidance to clients facing immediate questions and challenges about planning for or responding to the threat posed by the virus.
You can view out insights and events here, including the chance to register for [...]Read more
Taxpayer Win on Retroactivity: An Important Step for New York Tax Law
Earlier this week, our State & Local Tax Team examined the New York Appellate Division’s rejection of the state’s attempt to retroactively unwind already-claimed taxed credits after a New York court invalidates the state’s retroactive application of tax legislation as violating the Due Process Clause.
Applying New York’s three-factor standard to determine whether a retroactive tax law is constitutional
Comparing a taxpayer-friendly outcome to a taxpayer defeat
It all comes down to how and why
Read the full advisory here. [...]Read more
Federal Tax Update to IRAs Will (Further) Impact State Escheat Requirements
Last week, our Unclaimed Property Group examined the recently enacted SECURE Act and the significant changes the new law makes to the treatment of IRAs for state escheatment purposes.
Lengthens required minimum distribution age from 70.5 to 72
Repeals maximum age for traditional IRA contributions
Latest federal tax development to impact the unclaimed property treatment of IRAs
Read the full advisory here. [...]Read more