Market Intelligence

Partner Scott H. Novak specializes in tax law, focusing on tax controversy, trusts and estates, planning, and transactional tax matters. His extensive experience encompasses federal, state, foreign, and employment tax issues, handling everything from non-filing cases to complex audits, estate planning, and settlements with tax authorities.

Florida voters will consider Amendment #3 on the ballot for November 3, 2026. The proposed Florida Constitutional amendment would substantially expand homestead tax relief, reduce the permissible annual growth of non-homestead assessments, establish constitutional parameters governing local-government use of ad valorem revenues, and authorize future mechanisms for additional local homestead tax relief.

Explore the latest tax developments across 12 Asian jurisdictions, including China's offshore trust regulations, Hong Kong's corporate treasury incentives, and India's safe harbour reforms for offshore funds. Discover how regional governments are reshaping tax frameworks through e-invoicing mandates, transfer pricing updates, and strategic incentives designed to attract investment and enhance competitiveness.

Employers who fail to provide adequate healthcare coverage under the Affordable Care Act may face significant penalties from the IRS, but many proposed assessments stem...

As the December 31, 2026 deadline approaches for qualified opportunity fund investors, the tax bill on deferred gains is coming due—but the amount owed may shock those holding leveraged real estate investments. Treasury regulations create a calculation that can produce substantial taxable gain even when underlying assets have lost value, raising questions about whether investors should challenge the rule or pursue alternative strategies before year-end.

New York City's Pied-à-Terre tax targets properties not serving as primary residences, but recent exemption applications reveal that the Department of Finance is approving ownership structures beyond what published rules suggest. This analysis examines three successful exemption strategies involving revocable trusts, multi-tiered LLCs, and multiple-beneficiary trusts that property owners can leverage before the next determination date of January 5, 2027.