Bataineh Palmeri Opens New Office in Irvine, California

Oracle Tower 17901 Von Karman Avenue, Suite 600 Irvine, CA 92714

Oracle Tower
17901 Von Karman Avenue, Suite 600
Irvine, CA 92714

Our attorneys serve clients from coast to coast. 

Bataineh Palmeri's attorneys offer experience in a broad range of practice areas and industries covering small and medium sized enterprises. Our clients include publicly traded corporations as well as small, privately owned business.

“What makes our Firm unique is that our attorneys practice law with imagination, innovation, and efficiency. We strive to represent our clients in a way that not only addresses their legal concerns, but also advances their business and personal goals. We hold true to our mantra, imagine attorneys with imagination.” said Mohammad Bataineh, managing partner of Bataineh Palmeri. “Our expansion strategy is driven by what is in the best interest of our clients, and they have shown overwhelming support for our establishing a West Coast presence. Our experience and reputation will allow us to capitalize on additional opportunities in California’s vibrant market.”

With this strategic expansion, Bataineh Palmeri is positioned to effectively represent its clients in a diverse number of practice areas from coast to coast. Bataineh Palmeri’s new office is conveniently located at 17901 Von Karman Avenue in the Oracle Tower. 

Proposed Tax Regulations to Section 6038D

The Foreign Account Tax Compliance Act, enacted in 2010, created new IRC Section 6038D and requires individuals to file a statement with their income tax returns to report interests in specified foreign financial assets if the aggregate value of those assets exceeds certain thresholds.

Temporary regulations implementing IRC 6038D have been issued. Under the regulations, specified individuals (U.S. citizens, residents and certain non-resident aliens) are required to complete and attach Form 8938, Statement of Specified Foreign Financial Assets, to their income tax returns. This is effective for tax years starting after March 18, 2010, which for most people will be their 2011 tax returns filed during the 2012 filing season.

In developing the regulations IRS considered the potential burden this new self-reporting requirement could have on affected taxpayers. To balance reporting burden and the need for compliance improvement, there are higher asset thresholds for married couples and those residing abroad. There are also exceptions that relieve taxpayers from reporting certain assets, and special rules for valuing assets.  

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Limited Liability Companies after Olmstead

Limited Liability Companies after Olmstead

Limited liability companies (LLCs), which have only been around since 1982, gained popularity in Florida after the 1999 repeal of the Florida corporation income tax on an LLC’s income and later repeal of the Florida intangible tax on an LLC’s interests. Limited liability limited partnerships (LLLPs) arose when the legislature amended the LLLP statute to provide for limited liability protection for all partners, including general partners rather than partial limited liability formerly available. A Connecticut court held under the appropriate circumstances it could pierce the corporate veil of an LLC and hold members personally liable to third parties. In Stone v. Frederick Hobby Associates II, LLC, No. CV 000181620S, 2001 WL 861822 at *10 (Conn. Super. Ct. July 10, 2001), the court found, based on the facts, the “instrumentality and identity rules” allowed the court to pierce the veil of an LLC and hold individual members personally liable.

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