Friedman LLP News Roundup
Our DFK member firm Friedman LLP have had a busy month! From awards, new additions to the firm, to commentary on recent IRS updates the firm has been active. Read more about their activities below!
The IRS Large Business & International (“LB&I”) division recently announced three new compliance campaigns affecting transfer pricing. The goal of LB&I’s new campaigns is to improve return selection, identify issues representing non-compliance risks and ensure the efficient use of limited resources.
On May 2, Friedman's employees gathered from across regional offices to celebrate the close of the 2019 tax season at the Chelsea Piers Lighthouse, overlooking the Hudson River. Friedman employees cast their vote to honor notable individuals across unique categories as part of Friedman’s Superlative Awards.
David Slemmer joined Friedman's New York office as a Director in the firm's International Tax Practice with a specialized focus in the area of transfer pricing. He brings more than 20 years of experience evaluating and planning projects for large multinational companies as well as mid-market businesses across several industries. David has worked closely with clients in the life sciences, consumer business and manufacturing sectors.
Michael Greenwald, a member of Friedman's Qualified Opportunity Zone ("QOZ") Practice, discussed recent updates from the IRS on Opportunity Zones with Commercial Property Executive. Michael says the IRS took "tax-payer" friendly positions on the qualified asset and gross income tests. However, the IRS will release a third round of guidance in the future which could provide more changes to this new investment opportunity.