Tax Law News and Insights

Under the doctrine of constructive receipt, a cash-basis taxpayer who has an unrestricted right to receive income is treated as though they actually received the income-even if they did not. Thus, even when a taxpayer has not received possession of the income, the taxpayer is generally subject to tax as though...

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Collateral Estoppel Collateral estoppel, also known as issue preclusion, bars the relitigation of identical issues of fact or law decided in a prior suit.  It applies when the party against whom it is asserted had a full and fair opportunity to litigate the issue in the prior suit. Offensive and Defensive Use Collateral estoppel can be applied offensively or defensively. Offensive collateral estoppel is used by a plaintiff seeking to estop a...

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Weekly Wrap The Senate was the only chamber in session this week. On Monday, the Senate came up one vote short of overriding the Governor's veto of Senate Concurrent Regulatory Review Resolution 1 (Yaw, R-Lycoming), which would disapprove of the Environmental Quality Board's Regulation #7-559 (IRRC #3274) regarding a CO2...

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