This article originally ran in Forbes.com on January 15, 2023. All rights reserved.
Matthew Meltzer was recently quoted in a Forbes article about the IRS’s December 2022 Generic Legal Advice Memorandum (GLAM) which takes a look at plaintiff lawyer fee deferrals and tax benefits. The article reviews the right and wrong ways to handle deferral arrangements.
Says Matt Meltzer, Counsel at Flaster Greenberg, “The IRS lawyers who keep tabs on this area likely came upon a product they didn’t like, and the GLAM was the result. While it at first appears to launch a broadside against law that’s been settled for almost three decades, it’s actually much narrower in scope. If anything, the GLAM is a reminder for everyone to pause and refresh on how to do things the right way.”