Elliot Pisem, for more than 25 years, has concentrated on corporate and partnership taxation. Working with a broad range of clients, including real estate investors and developers, he has created, negotiated, and implemented sophisticated partnership arrangements, joint ventures, and corporate structures to accommodate complex transactions. With extensive experience in lessor/lessee issues in real property transactions, tax-free like-kind exchanges, and the structuring and operation of REITs, he has worked with tax-exempt investors; advised on historic rehabilitation projects, charitable contributions of “façade easements” and similar interests in real property; and developed tax-efficient structures for investment by foreign persons in U.S. real property and techniques for acquiring property already held by foreign owners. In addition to taxable and tax-free acquisitions, he has advised on spin-offs and other corporate and partnership divisions, and deals with the taxation of financial instruments, including the application of original issue discount, straddle, and swap rules, and the use of single- and multi-class pass-through certificate structures. He has represented corporate and non-corporate debtors and their creditors in debt restructuring and workout transactions, both within and outside of bankruptcy. He serves on the Executive Committee of the Tax Section of the NY State Bar Association and as Co-Chair of its Committee on Compliance, Practice & Procedure, having previously served as Co-Chair of the Committees on Pass-Through Entities, Partnerships, Tax Accounting Matters, Bankruptcy, Cost Recovery, and Real Property. The committees he has co-chaired have prepared reports on, inter alia, Regulations under Code section 707(a)(2) relating to “disguised sales” of property between partnerships and partners, the transfer pricing Regulations under Code section 482, the “bonus depreciation” Regulations under Code sections 168(k) and 1400(b), and monetary penalties on practitioners under Treasury Department Circular 230.  He also co-authors a bi-monthly column on corporate tax matters in the New York Law Journal and writes frequently for the Journal of Taxation and other publications.

He received his B.A.(1975) and J.D.(1978) from Columbia, where he was a Stone scholar.

S Corporation Inconsistent Reporting Issues: 'Rubin v. United States'

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 18, 2018
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Loan v. Distribution: "Illinois Tool Works v. Commissioner"

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, August 16, 2018
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S Corporation Elections -- Who Decides?

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 21, 2018
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Recent Developments Regarding Contributions to Capital

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 19, 2018
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Corporate Tax Changes in New Tax Law

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 15, 2018
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Developments Regarding Micro-Captive Insurance Structures

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 19, 2017
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Can Capital Gain Rates Apply to Income from Phantom Stock?

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 14, 2017
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The Accumulated Earnings Tax: Back from the Grave?

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 20, 2017
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Recent Developments Relating to S Corporations

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 16, 2017
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Characterization of Forfeited Deposits and Break Fees

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 19, 2016
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The Ever-Expanding 'Danielson' Rule?

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, August 18, 2016
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Recent Guidance Regarding Deduction of Fines

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 16, 2016
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Proposed Regulations to Treat Debt as Stock

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 21, 2016
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Receipt of "Boot" in Reorganizations: "Tseytin"

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 18, 2016
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Revisiting Allocation of Basis Issues: "Dorrance"

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, December 17, 2015
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New Partnership Audit Rules May Not Apply Until 2018, But They Are Your Headache Right Now

by Elliot Pisem
Published: To Our Clients And Friends, November 11, 2015
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What is "Insurance" for Tax Purposes?

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 15, 2015
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Tax Treatment When Estate Satisfies Transaction-Related Claims

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 18, 2015
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Inclusion of Refundable Tax Credits in Income

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 16, 2015
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"MoneyGram" Tackles Definition of "Bank"

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 19, 2015
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Income Classification Pitfalls for Executives of Startups

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, December 18, 2014
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Claim for Bad Tax Advice Results in Nontaxable Recovery

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 16, 2014
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Deductibility of Payments to Settle False Claims Act Liability

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, August 21, 2014
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Stock Rights Under §457A: Revenue Ruling 2014-18

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 19, 2014
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Loss Deduction for Forfeiture of Insider Trading Profits

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 17, 2014
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Property Abandonment Results in Capital Loss: "Pilgrim's Pride"

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 20, 2014
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"Fish": Ordinary Income From Incorporation Transaction

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, December 19, 2013
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Loss Disallowance for S Corp. Shareholders: 'Bronz'

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 17, 2013
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Can the Issuance of Form 1099-C Cancel a Debt?

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, August 15, 2013
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Diverse Approaches to Allocation of Basis in Demutualizations

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 18, 2013
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Revocation of S Corp Election During Bankruptcy Upheld

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 20, 2013
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Firm Denied Current Deduction for Out-of-Pocket Disbursements

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 21, 2013
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More About Step Transactions: G.D. Parker v. Commissioner

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, December 20, 2012
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Disqualification of Employee Trust: 'Yarish v. Commissioner'

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 18, 2012
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The Need for a Plan: Enterprises, Inc. v. Commissioner

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, August 16, 2012
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Taxpayer Fights Regulations, and Wins: 'Dominion Resources'

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 21, 2012
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'STARS' Wars -- the Service Strikes Back at Taxpayer Claims of Privilege

by Elliot Pisem
Published: Journal of Taxation, May 01, 2012
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Revocation of Tax Election by Non-Debtor Declared Void

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 19, 2012
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Accrual of Deduction for Disputed Amount

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, February 16, 2012
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The Wizard of Broz: S Corporations, Economic Outlay, and Debt Basis

by Elliot Pisem, Libin S. Zhang
Published: Journal of Taxation, February 01, 2012
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Warrants and Tax Avoidance Motivation Prove Hazardous

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, October 20, 2011
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Noncompetition Covenants: 'Recovery Group v. Commissioner'

by David E. Kahen, Elliot Pisem
Published: New York Law Journel, August 18, 2011
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More About Tax 'Substance': 'Hellweg v. Commissioner'

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, June 16, 2011
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Transferee Liability: Recent Developments

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, April 21, 2011
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Substance Over Form - 'WB Acquisitions'

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, February 17, 2011
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Court of Federal Claims Splits on the Computation of the TEFRA 'Jurisdictional Deposit'

by Elliot Pisem
Published: Journal of Taxation, February 01, 2011
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Reliance On Tax Opinion May Not Prevent Penalties

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, December 16, 2010
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Lack of Consistency in S Corporation Reporting -- How Onerous Are the Results?

by Elliot Pisem
Published: Journal of Taxation, December 01, 2010
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Rules Address Reporting of Securities Transactions

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, October 21, 2010
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Tax Court Decision Clarifies Treatment of Built-In Gain

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, August 19, 2010
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Sales-Based Contingent Royalties Are Not a Production Cost Capitalized Under Section 263A

by Elliot Pisem
Published: Journal of Taxation, July 01, 2010
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What is (Not) Income? Nathel v. Commissioner

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, June 17, 2010
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Ruling Illustrates Treatment of Payments to Settle Litigation

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, April 15, 2010
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Drawing a Line -- Information Reporting vs. Malicious Gossip

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, December 17, 2009
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Hot Like-Kind Exchange Issues

by Elliot Pisem
Published: NYU 68th Institute on Federal Taxation, October 21, 2009
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IRAs Barred From Owning Stock in S Corporation

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, October 15, 2009
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Court Addresses 'Reasonableness' of Compensation

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 16, 2009
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Allocations of Consideration for a Closely Held Business - Muskat v. United States

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 18, 2009
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Proposed Regulations Clarify Penalty Taxes on Income Inclusions

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, December 18, 2008
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Ruling Highlights Importance of Drafting to Indemnification

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, October 16, 2008
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Decisions Underline Scope of IRS Summons Power

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, August 21, 2008
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Shareholder Disputes Give Rise to Tax Disputes

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, June 19, 2008
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What Happened to My Prepayment Forum? The Penalty Problem in TEFRA Partnership Audit Cases

by Elliot Pisem
Published: Journal of Taxation, May 01, 2008
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Forfeiture of Deductions for Failure to File Timely Return: (Swallows Holding, Ltd. v. Commissioner)

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, April 17, 2008
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Ernst & Young: When Must Stocks Be Taken Into Income?

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 21, 2008
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Ruling Has Not Resolved Work-Product Privilege Issue

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, October 18, 2007
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Recent Developments Related To Nontaxable Spinoffs

by Elliot Pisem, David E. Kahen
Published: The New York Law Journal, August 16, 2007
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Warrants Not Received 'In Connection With' Performance of Services

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, June 21, 2007
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The Burden of Persuasion in Tax Litigation

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, December 21, 2006
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Court Addresses Limitations on Pass-Through of Losses

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, August 17, 2006
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Applying Section 162(m) To Partnership Remuneration

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 20, 2006
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When Is A Contract An Option?

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, December 15, 2005
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Gain Clarified in Shareholder Loans to S Corporations

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 20, 2005
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Impact of Securities Laws on Taxation of Compensation

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, August 18, 2005
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How Many Tax Opinions Will You Need: And Where Will You Get Them?

by Elliot Pisem
Published: The Metropolitan Corporate Counsel, May 01, 2005
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Formation, Reorganization, Liquidation of Insolvent Corporations

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 21, 2005
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Redemption of Stock in Family-Owned Corporation

by Elliot Pisem, David E. Kahen
Published: The New York Law Journal, February 17, 2005
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REIT Provisions under American Jobs Creation Act of 2004

by Ezra Dyckman, Elliot Pisem, Lana A. Kalickstein
Published: R&H Letter to Clients and Friends, December 28, 2004
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Deductibility Limits on Accrued Interest to Related Parties

by Elliot Pisem, David E. Kahen
Published: The New York Law Journal, December 16, 2004
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Exchanges of Short-Term Debt Instruments in Reorganizations

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, August 19, 2004
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'Dover' and the Consequences of Check-the-Box Liquidations

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 17, 2004
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Treatment of Contingent Liabilities Assumed in Purchase of Assets

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 19, 2004
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New Guidance Regarding Tax Treatment of Deemed Liquidations

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, December 18, 2003
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Mirror, Mirror on the Wall: When a Liability Is an Asset

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 16, 2003
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Reduction of Tax Attributes Following Cancellation of Debt

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, August 21, 2003
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Requirements for Spinoff Transactions

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 19, 2003
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Transfers to RICs and REITs

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 17, 2003
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New Proposed Rules Will Change Tax Treatment of Acquisition Costs

by Elliot Pisem, David E. Kahen
Published: The Metropolitan Corporate Counsel, March 01, 2003
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New Regulations Regarding Treatment of Transaction Costs

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 20, 2003
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Disclosures Required on 2002 Tax Returns

by Elliot Pisem
Published: R & H Letter to Clients and Friends, January 10, 2003
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Privilege in Tax Matters: Your Accountant v. Your Lawyer?

by Elliot Pisem
Published: The Metropolitan Corporate Counsel, January 01, 2003
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Further Liberalization of Requirements for Corporate Reorganization

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, December 19, 2002
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IRS Settlement Initiatives Relating to Tax Shelters

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 17, 2002
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Active Trade or Business Requirements for Nontaxable Spin Offs - Rev. Rul. 2002-49

by Elliot Pisem, David E. Kahen
Published: The New York Journal, August 15, 2002
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When Should a Distribution Be Taxed As an Exchange? -- 'Steel v. Commissioner'

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 20, 2002
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Accounting for Prepaid Items: 'U.S. Freightways v. Commissioner'

by David E. Kahen, Elliot Pisem
Published: New York Law Journal, April 18, 2002
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New Economic Stimulus Incentives

by Elliot Pisem, Lary S. Wolf
Published: R & H Letter to Clients and Friends, March 20, 2002

The "Device" Test for Spinoffs Under Section 355

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 14, 2002
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The Hazards of (Mis)Allocation of Purchae Price

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, December 20, 2001
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Step Transactions and Mergers: Rev. Rul. 2001-46

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, October 18, 2001
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"Rite Aid": Consolidated Return Loss Disallowance Held Invalid

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, August 16, 2001
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New Rulings Regarding Corporate Reorganizations

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 21, 2001
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Stock Redemption or Payment of Compensation?

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, April 19, 2001
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Supreme Court Addresses Discharge of Debt Income for S Corporation in "Gitlitz"

by Elliot Pisem, David E. Kahen
Published: New York Law Journal, February 15, 2001
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New Rules for Construction Allowances Provided to Certain Lessees

by Elliot Pisem, Lary S. Wolf
Published: R & H Letter to Clients & Friends, September 20, 2000

What's the Option Worth?

by Elliot Pisem
Published: New York Law Journal, August 17, 2000
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When Is a Merger Not a Merger?

by Elliot Pisem
Published: New York Law Journal, June 15, 2000
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Rules for Product Liability Losses for Consolidated Groups

by Elliot Pisem, Ellen Seiler Brody
Published: New York Law Journal, April 20, 2000
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Important New Rules on QSubs

by Elliot Pisem, Ronald A. Morris, Ellen Seiler Brody
Published: R & H Letter to Clients & Friends, February 28, 2000

Conversion of Corporations to RICs and REITs

by Elliot Pisem, Ezra Dyckman
Published: New York Law Journal, February 17, 2000
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Ticket to Work and Work Incentives Act of 1999

by Elliot Pisem, Ezra Dyckman
Published: New York Law Journal, December 23, 1999
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Tax Law's Insolvency Definition Not the Same as Bankruptcy's

by Elliot Pisem
Published: New York Law Journal, October 12, 1999
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New Rules for Purchase Price Allocations in Taxable "M&A" Transations

by Elliot Pisem
Published: New York Law Journal, August 19, 1999
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Treasury Brings "Fast Pay" Arrangements to a Screeching Halt

by Elliot Pisem
Published: New York Law Journal, June 19, 1999
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Administration Proposals: Tax Avoidance and Corporate Tax Shelters

by Elliot Pisem
Published: R & H Newsletter -- Tax Insights, February 28, 1999

Bankruptcy Code Trumps Internal Revenue Code

by Elliot Pisem, Ellen Seiler Brody
Published: New York Law Journal, December 24, 1998
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Tax Court Decision Limits Ability to Claim Deduction

by Ronald A. Morris, Elliot Pisem
Published: National Real Estate Investor, November 01, 1998

Recent case brings element of rationality to tax laws

by Ronald A. Morris, Elliot Pisem
Published: National Real Estate Investor, September 01, 1998

Just When You Thought It Was Safe to Go Back in the Water: Recharacterizing Debt as Equity

by Elliot Pisem
Published: New York Law Journal, August 27, 1998
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Property valuations: To discount or not to discount?

by Ronald A. Morris, Elliot Pisem
Published: National Real Estate Investor, July 01, 1998

Compensatory Stock Options: IRS Provides Some Guidance on Gift and Estate Tax Issues

by Elliot Pisem
Published: New York Law Journal, June 25, 1998
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Tax Court: We're as confused as you about COD, S Corps.

by Ronald A. Morris, Elliot Pisem
Published: National Real Estate Investor, May 01, 1998

Selling Closely-Held Stock to an Employee Stock Ownership Plan -- How Adequate Must the Consideration Be?

by Elliot Pisem, Allen J. Erreich
Published: New York Law Journal, April 23, 1998
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Environmental cleanup costs: The price of certainty

by Ronald A. Morris, Elliot Pisem
Published: National Real Estate Investor, March 01, 1998

To Vote or Not to Vote, That Is the Question

by Elliot Pisem, Quincy Cotton
Published: New York Law Journal, October 23, 1997
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Determining taxpayers' 'ownership' of property

by Ronald A. Morris, Elliot Pisem
Published: National Real Estate Investor, September 01, 1997

Corporate Provisions of the Taxpayer Relief Act of 1997

by Elliot Pisem
Published: New York Law Journal, August 28, 1997
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Are asbestos removal costs currently deductible?

by Ronald A. Morris, Elliot Pisem
Published: National Real Estate Investor, July 01, 1997

Employee Sells a Home and Employer Gets a Tax Deduction

by Elliot Pisem, Ellen Seiler Brody
Published: New York Law Journal, June 26, 1997
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Some tax issues still tricky under today's system

by Ronald A. Morris, Elliot Pisem
Published: National Real Estate Investor, May 01, 1997

Rules on Below-Market and Interest-Free Loans

by Elliot Pisem
Published: New York Law Journal, April 24, 1997
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Continuity of Interest Rules May Be Liberalized -- But Can Remain a Trap for the Unwary

by Elliot Pisem, Ellen Seiler Brody
Published: New York Law Journal, February 27, 1997
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Repairs or replacements: Current deductibility of reconstruction costs

by Ronald A. Morris, Elliot Pisem
Published: National Real Estate Investor, January 01, 1997

'Check-the-Box' Regulations Provide Certainty, Flexibility and New Planning Opportunities

by Elliot Pisem, Lary S. Wolf, Peter A. Glicklich
Published: R & H Newsletter -- Tax Insights, January 01, 1997