Tax Law

French American Chamber of Commerce

In our latest Meet the Member feature, we had the opportunity to speak with Alexandre Leturgez-Coianiz, Partner at Roche Legal. Alexandre joined the FACC-NY

in February, but has been a NY resident since 2015. As an attorney admitted to both the NY and French bars, he puts his expert knowledge of both systems to benefit the clients he represents. Keep reading to learn more about his background and how Roche Legal provides counsel for cross-border operations and business development.

FACC: You've been admitted to the bar in both France and New York. What was most challenging about reaching these milestones in each country, did one prepare you for the other or did you take very different approaches to each?

ALC: ·Preparing for a bar exam can be compared as preparing for a marathon. It is an extensive time of constant focus and hard work, especially when you prepare for an exam that is not in your native language. France and the United States have two different legal systems and the bar admission requirements are different as well. The New York State Bar Exam is a full written exam and is known to be highly demanding and strict. The French bar is more traditional as it is in both oral and written formats that require extensive knowledge and skills. Interestingly, I passed the New York bar and then the French bar, and I can say that my U.S. experience and education from Fordham Law prepared me for the French bar which is under high scrutiny by judges, attorneys, and faculty examiners who evaluate your fitness to be knowledgeable and independent.

FACC: One of Roche Legal's practice areas is corporate planning and cross-border operations. As either a French or American company considering expanding their business abroad, when is the right time to consult a lawyer and how valuable is it to have the assistance of a counsel who thoroughly understands both sides?

ALC: Corporate decisions should be taken with a full knowledge of the economic market, targets, financial projections, work forces, not to mention legal pitfalls through a comprehensive legal framework. Planning is "the process of deciding in detail how to do something before you actually start to do it" and Roche Legal offers a dedicated office for its clients. The right time to consult your attorney is when thinking and building your business. Understanding both American and European cultures, with so many differences and nuances, is a key element for successfully implementing a new business.

FACC: You've been in New York since 2015 (correct?), both for education, internships and professional experience. Do you feel that living in the United States has changed your perspective or given you additional professional or interpersonal skills that you did not have before?

ALC: I moved to New York in September 2015 with the project to go to Law School for a one-year program. As months and years passed, I found myself loving the American culture and being very happy practicing law in the U.S. I would say that having spent those years learning English and American culture and facing the daily challenges of living in the U.S.–in New York City, deeply changed my vision of life and work. I became accustomed to going out of my comfort zone and nowadays I am challenging myself regularly toward new goals. Life is a reward for actions you take and staying humble and focused is essential.

FACC: Do you have any goals to expand the Roche Legal Firm, either in practice areas or with additional associates?

ALC: The goals to the end of 2019 are to grow and hire associates and maybe partner with other attorneys. Roche Legal specialized in tax and corporate law and should expand its practice to intellectual property law to answer entrepreneurs and companies' needs.

FACC: What makes your practice unique?

ALC: Roche Legal offers tax and corporate legal services for both individuals and corporations. That means that clients will receive a full customized service in the U.S. regarding tax compliance and planning, tax filings, business compliance and planning and more. We also practice in France and therefore we offer a unique and dedicated transatlantic office. Roche Legal is also proud of its professional network. I noticed that nonlegal persons may have a hard time finding the right legal professional with whom they would be comfortable working with. Whether looking online or asking friends and family for an attorney can be cumbersome and disappointing. Roche Legal was designed to offer full and customized legal services to its clients from A to Z. Roche Legal is building a strong intercontinental network that benefits its clients through referrals when they need specific legal advice in a specific area of the world. Roche Legal is assessing its clients' demand by either handling the matter, or if out of Roche Legal's scope, referring to a trusted legal professional from its network. Clients can be confident that their legal matters are taken care of.

FACC: How did you learn about the FACC and what are you most looking forward to this year as a member?

ALC: The FACC's reputation is well-known among the French working community doing business and/or living in New York and I was encouraged to become a member. I am really looking forward to meeting with the FACC members and also participating actively to the FACC events thorough the year.

Originally posted on the FACC's website:

Related Articles Around the Web

Information returns are due to the IRS at the beginning of each fiscal year. Whether you've made payments to

thirds parties or to employees, you might need to report these payments. Various forms exist (W-2, W-2G, 1042-S, 1094-C, 1095, 1097, 1098, 1099 1099-NEC, 3921, 3922, 5498, 8027) with various deadlines and rules. We focus this short article on information returns 1099.
As we approach January 31st, we are dealing with a new information return: Form 1099-NEC
As we approach January 31st, we are dealing with a new information return: Form 1099-NEC. NEC stands for Non-Employee Compensation. Typically, contractors paid during the fiscal year 2020 will receive a 1099-NEC.

As a payor, your duty to the IRS is to send a report 1099 with information regarding payments above $600 in the aggregate made to third parties during the year. The deadline is January 31, 2021, and on form 1099-NEC the IRS did not allow an extension to file (exceptions apply).

It is highly recommended you keep a copy of W-9s requested to your business partners during the course of the year. W-9s should be updated each fiscal year, so you can report the information accurately to the IRS.

Regarding the redesigned form 1099-MISC, and following the IRS instructions, the recipients should receive notice by January 31, 2021 and you must file the form with the IRS no later than February 28, 2021 (or March 31, 2021 if filing electronically). You might as well request a 30-day extension to file.

Failure to comply with the information reporting may trigger penalties.

Contact your legal/tax advisor for additional questions and to help you comply with the information returns this year.

Following the recent decisions to push back Tax Day to July 15, 2020, most of the States also decided to delay the 2019 corporate tax filing and payment to July 15, 2020.

We worked on providing you the current (as of April 8, 2020) deadlines applicable to corporate income tax returns, payments and estimated tax Q1 & Q2-2020 for all States. If your tax year ends is different than December 31st or have any concern regarding the tax filings or payment, our office remains open to help you.

Authority 2019 TRQ1-2020Q2-2020Comment
Federal 7/15/207/15/206/15/20
CO7/15/207/15/207/15/202019 TR automatic extension until 10/15/2020
MN4/15/204/15/206/15/20C corporations receive an automatic extension to file their Minnesota return to the later of 7 months after the due date or the date of any federal extension to file.
NC7/15/204/15/206/15/20No penalties for filing on 7/15/2020 but interest will be charged after 4/15/2020
NH5/15/205/15/206/15/20The state relief is provided only to Business Tax taxpayers whose tax year 2018 total tax liability was $50,000 or less. Otherwise, Business taxpayers must pay in full at least the tax liability determined in 2018 or 2019.
NM7/15/207/15/207/15/20Estimated tax penalty will be waived but interest will be charge from the original due date.
OH5/10/205/10/208/10/20No corporate income tax but Commercial Activity Tax due
VA6/1/206/1/206/15/20Extension due 5/1/2020
NYC4/15/203/15/206/15/20Can request waiver of penalty

CARES Act H.R. 748

"Coronavirus Aid, Relief, and Economic Security Act"

The bill is on its way to be signed by the President.

  • Unemployment

State shall enter into and participate in an agreement with the Secretary of Labor.

Employees will get the amount determined under the state law PLUS an additional $600 "Federal Pandemic Unemployment Compensation" – Weekly compensation.

State will get reimbursed by the Federal Government.

  • Recovery Rebates for individuals

Taxpayers will receive a tax credit within the next few weeks.

It is a credit against the tax for the taxable year 2020.

The amount of credit is: $1,200 for single or $2,400 married filing joint return + $500 per qualifying child

Phase out: starts $75k for single, $112,500 head of household, $150k joint return

Phase out 5% of the AGI above thresholds.

Example 1: Mr. A and Mrs. A file a joint return in 2018 and 2019. They receive W-2 income. In 2019, their adjusted gross income is $110,000. They will get immediately $2,400 as a tax credit. Later when they file their 2020 tax return (April 2021) they will pay their tax as computed for the fiscal year.

Example 2: Mr. Z is single and pay tax every year. In 2019 his adjusted gross income is $70,000. He will receive $1,200 as a credit against 2020 tax.

All individuals with SSN are concerned except non resident aliens, estate and trust

The credit is automatically sent on bank account on file after 1/1/2018.

Taxpayers will receive a notice from the Secretary within 15 days of the payment

The condition is to have filed a tax return in 2018. If not, you can file 2019 ASAP in order to receive the credit on your bank account.

  • Individual Retirement Plan

IRC Section 401(a)(9): Annuity contracts subject to minimum distribution rules, the CARES Act changes the distribution rules for 2020

  • Charitable contribution $300 allowed "above the line"

Also, corporations will be allowed to deduct 2020 charitable contribution 2020 deductible up to the maximum of 25% of taxable income over the amount of all other charitable contributions allowed

  • Employee Retention Credit for Employers subject to Closure due to COVID-19

Credit employment tax 50% of qualified wages. Qualified wages for quarter for any employee not to exceed $10,000

The excess credit is refundable. The credit applies for the period beginning after 12/31/2019.

Eligible employers: engaged in trade or business in 2020 and is fully or partially suspended activity due to the virus + significant decline in gross receipt ie less than 50% for the same calendar quarter in the prior year.

Health expenses included in qualified wages.

  • Limitation business interest Section 163(j) for 2019 and 2020 limit 50% of adjusted taxable income
  • Credit Protection during the Pandemic

When the creditor makes am accusation with respect to 1 or more payments on a credit obligation or account of a consumer and the consul er respects the terms of the accommodation, the creditor report the credit obligation or account as current

  • Mortgage loan

Borrower can request for forbearance of foreclosure up to 180 days no additional fees, no penalties, or interests. Borrower must show financial hardship. Ask your lender.

Foreclosure moratorium: related eviction delayed at least 60 days starting March 18, 2020

  • Miscellaneous

New qualified medical expenses

Long time overdue, the federal government allows taxpayer to deduct expenses related to Menstrual care products (naming tampon, pad, liner, cup, sponge, or similar product used by individuals with respect to menstruation or other genital-tract secretions)

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