Tag Archives: GT Alert

Greenberg Traurig’s Seth Entin Quoted in Accounting Today on Recent IRS Ruling

Greenberg Traurig Shareholder Seth Entin was recently quoted in Accounting Today for an article on a recent IRS Ruling in the U.S. Tax Court. In July, the U.S. Tax Court rejected a long-standing Internal Revenue Service ruling and held that when a non-U.S. person sells an interest in a partnership or is completely redeemed from a … Continue Reading

IRS Says Aircraft Leasing Entity is Eligible for 1031 Tax Free Exchange Treatment Despite Leasing to Related Companies at No Profit

We previously wrote about how a recently passed Texas bill (S.B. 1396) will allow certain in-state aircraft purchases to qualify for a resale exemption from sales tax, with the tax instead applied to later leasing contract payments. Now, a new IRS Chief Counsel memo says that an aircraft leasing partnership that trades in an aircraft that … Continue Reading
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