Category: Tax
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Constitutionality of the Corporate Transparency Act

March 4, 2024

On March 1, 2024, the U.S. District Court in Alabama declared the Corporate Transparency Act (CTA) unconstitutional, challenging its mandate for a national database of business owners aimed at curbing financial crimes. The Court found the Act exceeded legislative powers, failing the “necessary and proper” test. This pivotal decision, favoring the National Small Business Association’s injunction request, raises questions on the enforcement implications for non-party companies. The ruling’s broader impact on financial crime prevention efforts remains under scrutiny as developments continue.

Martin D. Hauptman Addresses Social Security Questions on 401(k) Withdrawals 

January 31, 2024

For individuals seeking clarity on their potential circumstances, the Social Security Administration provides charts for income levels and filing statuses, accessible through this link. Additionally, it offers guidance on calculating Modified Adjusted Gross Income.

IRS Announces Pandemic-Related Penalty Relief for Millions

December 22, 2023

The Internal Revenue Service (IRS) has introduced a substantial relief measure in response to COVID-19 challenges. The $1 billion initiative benefits approximately 4.7 million taxpayers who missed automated collection reminders during the pandemic. With a focus on those earning under $400,000 annually, the IRS plans to resume regular collection procedures while offering a more lenient approach to overdue tax bills.

Mandelbaum Barrett PC named to 2024 Best Law Firms

November 9, 2023

Mandelbaum Barrett PC is thrilled to announce that once again we have been recognized by Best Lawyers on their “2024 Best Law Firms®” list! This recognition highlights the ongoing excellence of our dedicated team of attorneys, underscoring our unwavering commitment to providing top-notch legal services and ensuring client satisfaction. We take pride in the fact that 16 of our practice […]

Mandelbaum Barrett PC Earns Prestigious Inc. 2023 Power Partner Award for Excellence in Legal Services

November 7, 2023

We are thrilled to announce that Mandelbaum Barrett PC has been honored with the prestigious title of Inc.’s 2023 Power Partner! This recognition reflects our unwavering dedication to delivering exceptional legal services and our relentless commitment to offering comprehensive support to our valued clients. We understand that our success is intrinsically tied to yours, and we are honored to stand by your side on your journey to success.

New IRS Cybersecurity Requirements for CPAs and Accounting Practices

January 17, 2023

Stay ahead of the game and protect your business and clients’ information with the latest IRS cybersecurity requirements for CPAs and Accounting practices. Learn about the new Written Information Security Plan (WISP) and FTC SafeGuards Rule. Partner and Chief Cybersecurity Legal Officer Steven Teppler, and Partner in the Firm’s Trusts & Estates and Taxation practice […]

8th Tax, Trusts & Estates Forum

December 9, 2022

For the first time in two years we hosted our Tax Trusts and Estates Forum in person! We were thrilled to see so many familiar faces, and to welcome new ones. This event is focused on helping business owners and financial advisors stay on top of current changes to IRS rules, learn best practices and […]

Do I have to pay sales tax to N.J. on my boat?

May 10, 2022

Martin D. Hauptman, Esq., a Tax attorney at Mandelbaum Barrett PC recently answered that question for Find out what he says:

“How can I get senior community to release assets to this trust?”

April 11, 2022

Steven Holt, Esq., Chair of the Tax Law and Trusts & Estates departments at Mandelbaum Barrett PC was recently interviewed by to answer this question. “The solution here is to reach out to the community and have them explain why they are asking for this and alert them to the fact that the unit is held […]