EFTA02552279.pdf

From: jeffrey E. <[email protected]> Sent: Tuesday, December 5, 2017 10:31 PM To: Richard Kahn Subject: Re: Income tax payments due noam had to take money from his IRA plus pay a penalty for=the taking. max should immediately reimburse thant money= in addition make out the check to us treasury for 150k = any balance can be carrried forward, this should be don= ASAP thx did you send the memo to noam. i d=like to see it as well if you are ok with that On Tue, Dec 5, 2017 at 3:31 PM, Ric=ard Kahn > wrote: Richard Kahn HBRK Associates Inc. 575 Lexington <https://maps.google=com/?q=575+LexingtonVoCrY0A0Avenue+4th+Floor+New+York,+NY%C2%A010022&e=try=gmail& source=g> Avenue 4th Floor <https://maps=google.com/?q=575+LexingtonVoC2P0A0Avenue+4th+Floor+New+York,+NY%C2e/cA01002=&entry=gmail& source=g> New York, NY 10022 Begin forwarded message: From: Deborah Pechet Quinan <=a href Subject: RE: Income tax payments due Date: December 5, 2017 at 3:34:48 PM =ST To: =span style="font-family:-webkit-system-font,Helvetica Neue,Helvetica,san=-serir>Richard Kahn Cc: "Noam Chomsky >, "Valeria Chomsky ' «= href="mailt• Richard,<=u> EFTA_R1_01708914 EFTA02552279  </=> =hank you for your emails below. =span style="color:rgb(31,73,125)">When the trust made the tax payments f=r 2015 I sent Max the estimated tax vouchers and he remitted them with pay=ent directly from the trust to the taxing authorities. Since Nick do=s not have all of the information he needs to calculate the 2017 tax and p=epare the vouchers, how should this be handled? Please let me know w=at to ask Nick for in this regard. <=span> =1u> Can you ple=se clarify what you mean below by "the reimbursement". =A0 In addition, please confirm that by "extra tax for last year=E2 you mean that I should be asking for a distribution to Noam of 10=% of his and Valeria's 2016 tax liability that was paid from Noam=E2 s IRA. I appreciate the clarifications. Thanks, Deborah=u> =C2 Deborah Pechet Quinan, Esq. LL.M.=/b> Shareholder Chair, Trusts & Estates Group 25= State Street, 7th Floor <https://maps.google.com/?q=255+State+Street,+7t.+Floor%C2%,40%7C%C2%A0Boston,+MA+02109&entry=gmail&sou rce=g> <https://maps.google.com/?q=255+State+Str=et,+7th+Floor%C2c/cA0%7C%C2%A0Boston,+MA+02109&entry=gmail&so urce=3Dg> Boston, MA 02109 <https:/=maps.google.com/?q=255+State+Street,+7th+Floor%C2%A0%7C%C2%.A0Boston,+MA+=21098(entry=gmail&so urce=g> =span style="font-size:10.5ptcolor:rgb(252,187,49)"> I Cell: Assistant - Jayne Mahoney:S0 Office: Faxes e-ma=l =a href="http://www.riw.com/" style="color:purple;text- decoration:under=ine" target="_blank">www.riw.com I BIO <http://www.riw.com/attorney/debora=-pechet-quinan/> From: Richard Kahn Sent: Tuesday, Decembe= 05, 2017 1:58 PM To: Deborah Pechet Quinan Subject: Re: Inc=me tax payments due Tell max that he can pay to treasuries with N=am's written approval =A0 Richard Kahn HBRK Associate= Inc. 5=5 Lexington <https://maps.google.com/?q=575+Lexington%C2%A0A=enue+4th+Floor+New+York,+NY%CnA010022&entry=gmail&s ource=g> Avenue 4th Floor 2 EFTA_R1_01708915 EFTA02552280 chttps://maps.google.com/?q=575+Lexington=C2%A0Avenue+4th+Floor+New+York,+NY%C2V0A010022&entry=gmail&s ource=3Dg> New York, NY <https://maps.google.comM=575+L=xington%C2%A0Avenue+4th+Floor+New+York,+NY%CrY0A010022&entry=gmail& am=;source=g> 10022 <https://maps.google.comfig=3D575+Lexington%C2V0A0Avenue+4th+Floor+New+York,+NYV0C2%A010022&entry==mai l&source= tel fax /=> cell On Dec 5, 2017, at 1:49 PM, Richard Kahn &= <mailto r > wrote= Deborah ask for 150k for this year and the reimbursement plus extra=tax for last year that nick should give you Richard Ka=n HBRK Associates Inc. 575 Lexington <https://maps.google.comfiq==75+Lexington%Cr/A0Avenue+4th+Floor+New+York,+NY%C2V0A010022&entry=gmarl& source=g> Avenue 4th Floor <https://maps.google.co=/?q=575+LexingtonVoC2V0A0Avenue+4th+Floor+New+York,+NY%C2%A010022&entr==gmail&s ource=g> New York, NY <https://maps.g=ogle.com/?q=575+Lexington%C2V0A0Avenue+4th+Floor+New+York,+NY%C2%A010022&=mp;entry=gm ail&source=g> 10022 <https:Thaps.google.com/?q=575+LexingtonY0C2V0A0Avenue+4th+Floor+New+York,+NY%C2c/cA0=0022&entry=gmail&s ource=g> On Dec 5, 2017, at 1:27 PM= Deborah Pechet Quinan wrote:=u> Dear Richard,<=u> 3 EFTA_R1_01708916 EFTA02552281  Further to my =revious response to Nick's email, please let me know your thoughts=regarding the discussed email to Max with the demand for tax payments, as =t appears that we do not have an accurate figure yet. </=pan> =A0 I look forward to your thoughts and am availabl= for another call today except between 2:00 and 3:00 this afternoon. <=span> De=orah I =C2 www.riw.com <http://www.riw.com/> I BID <http://www.riw.com/attorney=deborah-pechet-quinan/> <image001.=if> From: Nick Nichols [mailto: RE: Income tax p=yments due Dear Deborah, </=> If I send you something today, it would be with th= major caveat that we don't have nearly enough information to calc=late a Q4 payment with accuracy. =u> And more importantly, I've suggested =everal times since August/September and as recently within the past week, =hat I recommend that we make an additional IRA distribution that is applie= 100% to tax withholding. And I emphasized that we need to do that b=fore 12/31. Of course I can't quantify the saving precisely,=but it would save a 4-figure federal underpayment penalty. A quarter=y payment now would only "stop the clock" going forward on=the penalty calculation; but withholdings are deemed to be prorata through=ut the year, hence no penalty and the hoped for cash savings. We don't have =n estimate of their royalty incomes for 2017 (they were greater in 2016 th=n in 2015), Noam's income from teaching in Arizona, etc, etc. =AO Hopefully we will get some more information shortly and we can update t=e projections. I am not aware of any other significant sources of cash to be able to=make Q4 estimated payments. Noam & Valeria, if you have so=e available cash that can be set aside to be applied as Q4 estimated payme=ts so that we don't have to incur more taxable income with an IRA =istribution, it would be helpful. Let us know how much is available,=and we can calculate the ideal balance of IRA distribution (more taxable i=come) and other resources (without additional taxable income).</=> Do you know if the ac=ounts have moved from Bainco yet? The last we knew in September, the= had not. If not we will want to coordinate the tax payment/distribu=ion with Bainco. Thanks, Nick <=div> From: Deborah Pechet Quinan [mailto:[email protected] Sent: Tuesday, December 5, 2017 12:27 PMTo: =A0Nick Nichols 4 EFTA_R1_01708917 EFTA02552282  Cc: Noam Chomsky ( =;; Valeria Chomsky i 1/>; is ar a n Subject: Income tax payments due Importance:=span class="m_-260711984874668852SApple-converted-space"> Hi=h Dear Nick, Could you please send me, at your very earliest convenience, the esti=ated tax vouchers and payment amounts for Noam and Valeria, for the tax pa=ments that are currently due? =/u> Best, Deborah apan style="font-size:10.5pt;color:rgb(0,112,192)"> Deborah Pechet Quinan, Esq. LL.M.=C2 Shareholder Chair, Trusts & Estates Group 255=State Street, 7th Floor chttps://maps.google.com/?q=255+State+Street,+7th=Floor%C2%A0%7C94C2%A0Boston,+MA+02109&entry=gmail&so urce=g> I Boston, MA 02109 chttps://maps.google.com/?q=255+State+Street,+7th+Floor%C2cY0A0%7C%=2%A0Boston,+MA+02109&entry=gmail&sou rce=g> Direct Assistant - Ja Office: e-mail: www.riw.com <https://urldefense.proofpoint.com/v2/u=l?u=http- 3A_www.riw.com_&d=DwMFAg&c=euGZstcaTDIlvimEN8b7jXr=qOf- v5A_CdpgnVfiiMM&r=d4Vmc0SuNFpfuzQWZQTpNlgcRuVETVF-P_dx26- Cefo&am=;m=D0IRTMfbl6fwVHBBLN5R8mpM6RyuokoEEsW3ZhUglEl&s=cpUWeH-zKx2X62s66=j124E5oNDEvSu- pXh5yZIUgeM&e=> I BIO=/a> <https://urldefense.proofpoint.co=/v2/url?u=http- 3A_www.riw.com_attorney_deborah-20pechet-20quinan_&d=300wMFAg&c=euGZstcaTDIlvimEN8b7jXrwqOf- v5A_CdpgnVfiiMM&r=d4Vmc=SuNFpfuzQWZQTpNlgcRuVETVF-P_dx26- Cefo&m=D0IRTMfbl6fwVHBEILNSR8mpM6Ryu=koEEsW3ZhUglEl&s=Gwl_fibxUO9cB- APemCHVZiKZ866gjIPgU7wyklb3ZQ&e=3D> <image001.gif=gt; NOTICE:=This email with its attachments, if any, is intended solely for permitted =se by authorized recipients. 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