Lawyers
Tax partner Brian Krause published an article in TAXES – The Tax Magazine on the tax treatment of the assumption of liabilities in common corporate transactions. The article, “You Know What They Say about Making Assumptions: The Inconsistent Tax Treatment of Liability Assumptions,” published on February 13, was first presented by Brian as a paper at the 76th Annual Federal Tax Conference hosted by the University of Chicago Law School in November 2023.
The article examines the treatment of liability assumptions through the lens of a recently decided case involving the sale of an NBA franchise and the assumption of certain deferred compensation liabilities associated with that business by the buyer.
