Facebook’s Windfall

Corporate Tax reform is a shifty goal. Companies seek to lower the 35% rate while suggesting the other guy’s deductions be eliminated. As the NYT reported today, Facebook received a substantial tax deduction on Founder Mark Zuckerbergs cashless exercise of options…. Facebook is the classic example. Its co-founder, Mark Zuckerberg, had options to buy stock … More Facebook’s Windfall

Cyberlaw: 2nd Circuit Oks IRS Modem Excise Tax

In the recent IRS vs. Worldcom decision, the Court of Appeals Second Circuit reversed the denial of a $38 Million communications excise tax the IRS previously collected. In Worldcom’s bankruptcy proceeding, the IRS had been ordered to refund the excise tax to Worldcom’s bankruptcy estate. The issue for the Court of Appeals: Whether Worldcom’s purchase … More Cyberlaw: 2nd Circuit Oks IRS Modem Excise Tax