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Firm News December 18, 2024

Gibson Dunn Promotes 35 Lawyers to Partnership

Gibson Dunn has elected 35 lawyers to its partnership, effective January 1, 2025.

Client Alert December 2, 2024

IRS and Treasury Finalize “Clean Up” Partnership Debt-Allocation Regulations Under Section 752

This alert discusses regulations under section 752 regarding the allocation of partnership recourse liabilities.

Client Alert June 17, 2024

IRS and Treasury Issue Guidance on Related-Party Basis Adjustments

This alert describes the IRS’s recent focus on partnerships, provides background on basis adjustments under subchapter K, and discusses the Related-Party Basis Adjustment Guidance issued earlier today.

Client Alert November 22, 2023

Tax Court Holds That Non-U.S. Fund Is Engaged in a U.S. Trade or Business

The Court’s decision raises important considerations for asset managers, non-U.S. funds, and other non-U.S. persons that invest in the United States.

Article November 13, 2023

Disproportionate S Corporation Rollovers: Lindsey Buckingham Was Right

New York partner Eric Sloan and associate James Jennings are the authors of "Disproportionate S Corporation Rollovers: Lindsey Buckingham Was Right" published by Tax Notes Federal on November 13, 2023. 

Client Alert August 29, 2023

Bottom Dollar Partnership Guarantees Are Falling Off A Cliff

Because of an expiring transition rule, a partner that currently relies on a “bottom dollar guarantee” to support an allocation of liabilities may be required to recognize gain unless that partner takes action before October 4, 2023. Our lawyers provide a brief overview and discussion of the applicable Treasury regulations and describe the action that should be taken before October 4.

Firm News July 11, 2023

Gibson Dunn Advises Berkshire Hathaway Energy on Purchase of Dominion Energy Limited Partnership Stake in Cove Point LNG

​Gibson, Dunn & Crutcher LLP is advising Berkshire Hathaway Energy on its purchase of Dominion Energy's 50% limited partnership stake in the Cove Point LNG, LP business.

Client Alert May 29, 2021

Biden Administration Releases Fiscal Year 2022 Budget, Together With a “Greenbook” Providing Detailed Descriptions of Proposed Changes to Federal Tax Law and Accompanying Revenue Estimates

On May 28, 2021, the Administration released its fiscal year (FY) 2022 Budget, outlining a plan for $6 trillion of federal spending and $4.1 trillion in revenue for FY 2022 alone.