Schank v. Comm’r of Internal Rev., T.C. Memo. 2015-235 (2015) Terry and Paula Schank were the owners of TMS&P Holdings, LLC, a Nebraska limited liability company that elected partnership treatment for tax purposes; and Twin City Roofing and Sheet Metal, Inc., a closely held C corporation, in which Terry Schank was employed full time as […]
In family law cases, executive compensation can be a source of income for support and alimony obligations, and sometimes it may be marital or community property. Many executive compensation packages, such as incentive bonuses, restricted stock, stock options, share appreciation rights, SRUs, and deferred compensation, are structured under the tax laws. Chapter 6 of Frumkes & Vertz on Divorce Taxation discusses many forms of executive compensation, with a guide to discovering hidden income in the tax returns.
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