Holland & Knight LLP

Corporate Transparency Act: It's Back

In Smith v. United States Department of the Treasury, et al., the U.S. District Court for the Eastern District of Texas on Feb. 17, 2025, granted the government's motion to stay the order granting preliminary relief pending the disposition of the appeal before the U.S. Court of Appeals.

Corporate Transparency Act: Government Appeals Smith Case, Seeks Reporting Rule Reinstatement

Here are the latest developments in the ongoing Corporate Transparency Act (CTA) saga.

Eleven Holland & Knight Southern California Attorneys Recognized by Super Lawyers for 2025

LOS ANGELES (February 21, 2025) – Super Lawyers has named six attorneys in Holland & Knight's Southern California offices as "Super Lawyers" and five as "Rising Stars" for 2025.

Nine Holland & Knight Illinois Attorneys Recognized by Super Lawyers

CHICAGO (January 24, 2025) – Super Lawyers has named five attorneys in Holland & Knight's Illinois office as "Super Lawyers" and four as "Rising Stars" for 2025.

Preeminent International Private Wealth Partners from Karlin & Peebles Join Holland & Knight in Cent

LOS ANGELES (January 6, 2025) – Holland & Knight announced today that three longtime partners from Los Angeles-based private wealth services law firm Karlin & Peebles LLP joined the firm's Century City office on Jan. 1.

Trident Trust Investigation: Implications for Clients and Advisors

The U.S. Department of Justice (DOJ) and IRS have issued a John Doe summons targeting Trident Trust and related companies in three federal court cases.

IRS, State of California Offer Tax Relief for Wildfire-Impacted Taxpayers in Los Angeles County

In response to a Federal Emergency Management Agency (FEMA) disaster declaration regarding the Los Angeles wildfires, the IRS on Jan. 10, 2025, issued a news release, IR-2025-10, announcing postponement of certain tax-filing and tax-payment deadlines for taxpayers.

Developments in the Texas Top Cop Shop Case Impact Corporate Transparency Act

The U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction suspending the government's enforcement of the Corporate Transparency Act and its Implementing Regulations (the Order).

Corporate Transparency Act Reporting

The U.S. District Court for the Eastern District of Texas on Dec. 3, 2024, issued a nationwide preliminary injunction suspending (temporarily) the government's enforcement of the Corporate Transparency Act (CTA) and its Implementing Regulations.

Important Reminder: Corporate Transparency Act Reporting Deadline Jan. 1, 2025

The Corporate Transparency Act (CTA) requires 1) domestic (U.S.) entities and 2) foreign entities registered to do business in the U.S. (collectively, "Reporting Companies") that were in existence prior to Jan. 1, 2024, to file an electronic Beneficial Ownership Information Return (BOIR)

Joshua Husbands Named New Leader of Holland & Knight in Portland

Holland & Knight has named Joshua Husbands executive partner of the firm's Portland office. Mr. Husbands will oversee the day-to-day management of the office while continuing to manage his practice, which focuses on private wealth services and tax counsel for private companies and their owners.

FinCEN Issues Final Rule on AML/CFT Requirements for Investment Adviser Sector

The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a final rule (Final Rule) adding certain registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to the definition of "financial institution" under the regulations implementing the BSA.

A Game Plan for Success: Basic Estate Planning for Student-Athletes

Following changes in state laws, NCAA regulations and other legal action, student-athletes now are able to generate income through name, image and likeness (NIL) deals based on marketing, appearance and licensing fees.

Side-by-Side Comparison of State Private Trust Company Laws Shows Key Advantages by Location

There are numerous laws and regulatory issues to take into account when considering a state in which to form a Private Trust Company (PTC), including requirements around annual reporting, residency of personnel and capital requirements.

Thirty Holland & Knight Attorneys Named Top Private Wealth Advisers by Chambers High Net Worth Guide

Thirty Holland & Knight attorneys have been named leading advisers to wealthy individuals and families in the Chambers High Net Worth 2024 guide.

IRS Proposes to Classify Basket Contracts as a Tax Avoidance Scheme

The U.S. Department of the Treasury and IRS on July 11, 2024, issued proposed regulations that would classify certain basket contract transactions as listed transactions.

Maximize Your Legacy: Take Advantage of the High Estate and Gift Tax Exemption Sunset

As part of the Tax Cuts and Jobs Act (TCJA), the estate and gift tax exemption was doubled for tax years 2018-2025.

Lawrence Kern Joins Holland & Knight's Private Wealth Services Group in Chicago

CHICAGO (July 1, 2024) – Holland & Knight welcomes Lawrence "Larry" Kern as a partner in the Private Wealth Services Group in Chicago. Also joining Holland & Knight are Associates Jared Dodd and Norbert Isaacs.

Tennessee Trust Bill Takes Effect and Makes Important Changes to the State's Trust Laws

Tennessee enacted a new trust bill effective July 1, 2024, that made several key changes to Tennessee's trust laws as well as an important change to the Tennessee general partnership statute.

IRS Targets Owners of Professional Sports Franchises Regarding Tax Reporting

The IRS recently announced a new enforcement campaign that targets and investigates sports industry partnerships reporting significant tax losses.

Holland & Knight Strengthens Private Wealth Services Group with Three-Lawyer Team in Boston

Holland & Knight has strengthened its Private Wealth Services Group with a team of three attorneys in Boston.

Holland & Knight Bolsters Nonprofit and Tax-Exempt Organizations Team

Holland & Knight has strengthened its Nonprofit and Tax-Exempt Organizations Team with the addition of a five-person group of attorneys and nonprofit professionals.

Holland & Knight Grows International Private Wealth Practice with Addition of David Hryck

David Hryck, an internationally renowned tax, business and private wealth attorney in New York, has joined Holland & Knight as a partner.

Twenty-Five Holland & Knight Attorneys Named Top Private Wealth Advisers by Chambers High Net Worth

Twenty-five Holland & Knight attorneys have been named leading advisers to wealthy individuals and families in the Chambers High Net Worth 2023 guide.

Twenty-Five Holland & Knight Attorneys Named Top Private Wealth Advisers by Chambers High Net Worth

Twenty-five Holland & Knight attorneys have been named leading advisers to wealthy individuals and families in the Chambers High Net Worth 2023 guide.

Twenty-Five Holland & Knight Attorneys Named Top Private Wealth Advisers by Chambers High Net Worth

Twenty-five Holland & Knight attorneys have been named leading advisers to wealthy individuals and families in the Chambers High Net Worth 2023 guide.

Private Wealth Services Partner Bryan Howard Joins Holland & Knight in Nashville

Holland & Knight has strengthened its Private Wealth Services Group with the addition of Bryan Howard as a partner in Nashville.

Tennessee Removes Alternative Measure for Franchise Tax, Creates Automatic Refund Period

Gov. Bill Lee recently signed into law Public Chapter 950, which creates significant changes in how Tennessee's franchise tax is calculated.

Florida's State Sales Tax on Real Property Commercial Leases to Decrease Effective June 1, 2024

The Florida Department of Revenue released Tax Information Publication (TIP) 24A01-02 on April 8, 2024, indicating that the state sales tax rate on the "total rent charged for renting, leasing, or granting a license to use real property ... is reduced from 4.5 percent to 2.0 percent"

Not So Cryptic: IRS Increases Oversight on Cryptocurrency Income Tax Reporting Requirements

In 2025, the IRS will begin increasing its oversight of cryptocurrency transactions by requiring brokers to report investor sales and exchanges tied to such transactions.