The Intersection of Qualified Small Business Stock (QSBS) and Simple Agreements for Future Equity (SAFE) - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 61 of How Tax Works, Matt Foreman discusses Simple Agreements for Future Equity (SAFE), the debt-like and equity-adjacent agreement that could, maybe, perhaps be equity in certain circumsta...

frblaw.com

Section 83(b) Elections: When Can You Make One, When Can’t You Make One, And What Are Common Misconceptions? - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 60 of How Tax Works, Matt Foreman discusses equity grants, 83(b) elections, and common misconceptions with 83(b) elections.  Listen to the episode here:    Follow us on Bluesky: @howtaxwork...

frblaw.com

Substantial Economic Effect and Section 704(b) of the Internal Revenue Code - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 59 of How Tax Works, Matt Foreman discusses allocations and distributions, and the requirement that the allocations have Substantial Economic Effect, which is broken into two parts, (i) tha...

frblaw.com

New York’s Pied-a-Terre Tax - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 57 of How Tax Works, Matt Foreman discusses New York City’s brand new Pied-a-terre tax, outlining some of its most interesting points and potential audit issues. Listen to the episode here:...

frblaw.com

The Curious Case of Kwong (and Adbo), and the Abatement of Interest and Penalties - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 56 of How Tax Works, Matt Foreman discusses Kwong v. United States, 179 Fed. Cl. 382 (2025), specifically whether interest and penalties must be abated, plus bonus commentary about whether ...

frblaw.com

Entity Selection Part II: Payroll Taxes in the Era of Soroban Capital Partners and Sirius Solutions - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 55 of How Tax Works, Matt Foreman discusses S Corps (again), the viability of the GP/LP structure, the Fifth Circuit’s decision in Sirius Solutions, and the future of section 1402(a)(13) of...

frblaw.com

Substance v. Form Part III: Project Soy and the Economic Substance Doctrine - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 54 of How Tax Works, Matt Foreman discusses the wonderfully-named Project Soy (Liberty Global v. U.S., No. 23-1410), the economic substance doctrine, GILTI, and why citing Helvering v. Greg...

frblaw.com

Cannabis, 280E, and (sort of) Rescheduling - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 53 of How Tax Works, Matt Foreman discusses the state of the taxation of Cannabis, how section 280E works, how to mitigate its effects, and why 471(c) isn’t a panacea.

frblaw.com

QSBS Part VI: Why You Probably Shouldn’t Try to Qualify for the Exclusion Under Section 1202 of the IRC - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 52 of How Tax Works, Matt Foreman discusses why too many people are becoming too focused on the exclusion for QSBS, why many businesses shouldn’t bother restructuring to get QSBS, and the p...

frblaw.com

Theft, Scam, and Casualty Losses - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 51 of How Tax Works, Matt Foreman discusses theft losses under section1 165 of the IRC, including pig butchering, rug pulls, and Ponzi schemes, discussing whether the losses are deductible ...

frblaw.com

Ferraris, Montana LLCs, and Use Taxes - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 50 of How Tax Works, Matt Foreman discusses Al Capone, bad tax advice from the internet, and a sports car, which is a mixture of that led to the arrest of a youtuber. Listen to the episode ...

frblaw.com

Hobby Losses and How They Are Limited - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 49 of How Tax Works, Matt Foreman discusses hobby losses, which are a significant and often underappreciated limitation on the ability to deduct losses based on the taxpayer’s profit motive...

frblaw.com

Unrelated Business Taxable Income - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 48 of How Tax Works, Matt Foreman discusses Unrelated Business Taxable Income (UBTI), which is what can happen when nonprofit entities earn income from their operations, investments, and ot...

frblaw.com

Substance Versus Form, Part II: The Step Transaction Doctrine - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 47 of How Tax Works, Matt Foreman continues his discussion of substance versus form issues, focusing on the Step Transaction Doctrine, discussing the three tests and how they’re used and mi...

frblaw.com

Substance Versus Form, Part I: The Economic Substance Doctrine - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 46 of How Tax Works, Matt Foreman begins his discussion of substance versus form issues, beginning with the Economic Substance Doctrine, from its beginnings in case law to its codification ...

frblaw.com

Stock Sales Taxed as Asset Sales - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 45 of How Tax Works, Matt Foreman discusses how to have stock sales taxed as asset sales by using F Reorganizations, selling wholly-owned subsidiaries, and elections under 336(e) and 338(h)...

frblaw.com

frblaw.com

Allocations under IRC 704(c) - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 43 of How Tax Works, Matt Foreman discusses the three allowable methods Traditional, Traditional with Curative Allocations, and Remedial; the Ceiling Rule problem and how each method create...

frblaw.com

Offers in Compromise (OIC) - How Tax Works - Falcon Rappaport & Berkman LLP

In episode 42 of How Tax Works, Matt Foreman discusses the often misunderstood Offer in Compromise process, focusing on what types of OICs are likely to get accepted and the different reasons to reque...

frblaw.com

Payment Plans and Penalty Abatement - Falcon Rappaport & Berkman LLP

In episode 41 of How Tax Works, Matt Foreman gives an overview of what taxpayers and their advisors should do and expect when they owe money and want to pay it off over time, while trying to lower the...

frblaw.com

What You Should Do If Your Audit Goes Poorly and You Need to Litigate? - Falcon Rappaport & Berkman LLP

In episode 40 of How Tax Works, Matt Foreman continues his discussion of tax controversy, discussing appeals and litigation, focusing on timing, audit risk, and other related issues. Listen to the epi...

frblaw.com

What Should You Do If You Get Audited by the IRS (or State Revenue Agency)? - Falcon Rappaport & Berkman LLP

In episode 39 of How Tax Works, Matt Foreman discusses what you should do if you get audited, including discussing the process of an audit, how to politely push back, and why you should never, ever ig...

frblaw.com

Grouping and Separate Activities Under Section 469 of the Internal Revenue Code - Falcon Rappaport & Berkman LLP

In episode 36 of How Tax Works, Matt Foreman discusses grouping elections for the passive activity loss limitations, which are also generally applicable for sections 465 (at-risk limitations), 199A (q...

frblaw.com

The Installment Method Under Section 453 of Internal Revenue Code - Falcon Rappaport & Berkman LLP

In episode 35 of How Tax Works, Matt Foreman discusses sales where payment is over a number of years, with additional discussions of interest payments due to large notes and interaction with 1031 exch...

frblaw.com

Can AI Replace Tax Lawyers? (Part I) - Falcon Rappaport & Berkman LLP

In episode 33 of How Tax Works, Matt Foreman evaluates human and AI answers to a straightforward tax question, seeking to (somewhat) answer the question of whether AI can replace or augment tax lawyer...

frblaw.com

How I Think the ESPN and NFL Deal is Structured - Falcon Rappaport & Berkman LLP

In episode 32 of How Tax Works, Matt Foreman discusses the tax structure of the recently announced deal where the NFL is exchanging NFL Network and Redzone for a 10% equity stake in ESPN. Listen to th...

frblaw.com