Taxes http://wealthmanagement.com/taxonomy/term/23651/more en Tax Law Update: August 2014 http://wealthmanagement.com/taxes/tax-law-update-august-2014 <div class="node-body article-body">David A. Handler and Alison E. Lothes discuss the most important tax law developments of the past month</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/taxes/tax-law-update-august-2014" target="_blank">read more</a></p> http://wealthmanagement.com/taxes/tax-law-update-august-2014#comments Taxes Public Thu, 24 Jul 2014 17:22:00 +0000 612671 at http://wealthmanagement.com IRS Releases Long-Awaited Instructions to FATCA Form http://wealthmanagement.com/taxes/irs-releases-long-awaited-instructions-fatca-form <div class="field-deck"> Foreign entities use this to document their status </div> <div class="node-body article-body">On June 25, 2014, the Internal Revenue Service released long-awaited instructions to Form W-8BEN-E, used by foreign entities to document their status under the Foreign Account Tax Compliance Act of the Internal Revenue Code.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/taxes/irs-releases-long-awaited-instructions-fatca-form" target="_blank">read more</a></p> http://wealthmanagement.com/taxes/irs-releases-long-awaited-instructions-fatca-form#comments Taxes Estate Planning Public Mon, 14 Jul 2014 15:02:00 +0000 603711 at http://wealthmanagement.com Advisors and Clients Value Tax Deferral, But Unaware of Full Scope of Benefits http://wealthmanagement.com/client-relations/advisors-and-clients-value-tax-deferral-unaware-full-scope-benefits <div class="field-byline"> Laurence P. Greenberg </div> <div class="node-body article-body">High tax rates are top of mind for every advisor as they see the impact on their clients’ returns, and therefore this issue is increasingly becoming important for clients as well</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/client-relations/advisors-and-clients-value-tax-deferral-unaware-full-scope-benefits" target="_blank">read more</a></p> http://wealthmanagement.com/client-relations/advisors-and-clients-value-tax-deferral-unaware-full-scope-benefits#comments Taxes Client Relations Practice Management Mon, 07 Jul 2014 18:51:00 +0000 599121 at http://wealthmanagement.com moodboard/iStock/Thinkstock Complete or Incomplete Gifts? http://wealthmanagement.com/estate-planning/complete-or-incomplete-gifts <div class="field-deck"> IRS examines contributions to and distributions from an irrevocable trust </div> <div class="node-body article-body">In Private Letter Ruling 201426014 (June 27, 2014), the Internal Revenue Service issued four rulings in relation to property held in an irrevocable trust.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/estate-planning/complete-or-incomplete-gifts" target="_blank">read more</a></p> http://wealthmanagement.com/estate-planning/complete-or-incomplete-gifts#comments Taxes Estate Planning Public Thu, 03 Jul 2014 14:38:00 +0000 597561 at http://wealthmanagement.com Expanded Streamlined Offshore Voluntary Disclosure Procedures http://wealthmanagement.com/estate-planning/expanded-streamlined-offshore-voluntary-disclosure-procedures <div class="field-deck"> Getting right with the Lord </div> <div class="node-body article-body">The Internal Revenue Service released new procedures regarding their offshore voluntary disclosure program that take effect on July 1, 2014. This is an important development for taxpayers who’ve fallen into non-compliance not out of willfulness, but instead through lack of care or attention or through simple ignorance. </div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/estate-planning/expanded-streamlined-offshore-voluntary-disclosure-procedures" target="_blank">read more</a></p> http://wealthmanagement.com/estate-planning/expanded-streamlined-offshore-voluntary-disclosure-procedures#comments Taxes Estate Planning Public Tue, 01 Jul 2014 13:34:00 +0000 595751 at http://wealthmanagement.com Tax Law Update: July 2014 http://wealthmanagement.com/taxes/tax-law-update-july-2014 <div class="node-body article-body">David A. Handler and Alison E. Lothes discuss the most important tax law developments of the past month</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/taxes/tax-law-update-july-2014" target="_blank">read more</a></p> http://wealthmanagement.com/taxes/tax-law-update-july-2014#comments Legal Taxes Public Tue, 24 Jun 2014 15:42:00 +0000 591051 at http://wealthmanagement.com Mandatory Penalties for Late Returns http://wealthmanagement.com/estate-planning/mandatory-penalties-late-returns <div class="field-deck"> Unless there’s reasonable cause for not filing on time, even a payment of estimated estate taxes doesn’t negate the punishment </div> <div class="node-body article-body">In Liftin v. United States, the U.S. Court of Appeals for the Federal Circuit affirmed a Court of Federal Claims’ finding that a penalty for a late-filing estate tax return was mandatory.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/estate-planning/mandatory-penalties-late-returns" target="_blank">read more</a></p> http://wealthmanagement.com/estate-planning/mandatory-penalties-late-returns#comments Taxes Estate Planning Public Wed, 11 Jun 2014 18:03:00 +0000 581321 at http://wealthmanagement.com Maryland Raises Estate Tax Exemption http://wealthmanagement.com/estate-planning/maryland-raises-estate-tax-exemption <div class="field-deck"> Change heralds a decrease in Maryland clients who will need estate tax planning </div> <div class="node-body article-body">Maryland recently enacted the first increase in its estate tax exemption since 2002. </div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/estate-planning/maryland-raises-estate-tax-exemption" target="_blank">read more</a></p> http://wealthmanagement.com/estate-planning/maryland-raises-estate-tax-exemption#comments Taxes Estate Planning Public Tue, 03 Jun 2014 14:29:00 +0000 575031 at http://wealthmanagement.com More Madoff Mayhem http://wealthmanagement.com/estate-planning/more-madoff-mayhem <div class="field-deck"> Should an estate pay federal estate tax on an account that didn’t hold the assets it purported to hold? </div> <div class="node-body article-body">The ripple effects of Bernie Madoff’s Ponzi scheme continue to be felt. In a recent case, the Tax Court refused to grant summary judgment for the Internal Revenue Service and rule that a decedent’s account invested with Madoff was subject to federal estate tax.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/estate-planning/more-madoff-mayhem" target="_blank">read more</a></p> http://wealthmanagement.com/estate-planning/more-madoff-mayhem#comments Taxes Estate Planning Mon, 02 Jun 2014 19:43:00 +0000 574411 at http://wealthmanagement.com Liability for Unpaid Gift Tax http://wealthmanagement.com/estate-planning/liability-unpaid-gift-tax <div class="field-deck"> Estate tax payment doesn’t reduce amount owed </div> <div class="node-body article-body">The Tax Court held that an estate's payment of the non-deferred portion of the estate tax didn't result in an overpayment against which the Internal Revenue Service could credit the gift tax liability. </div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/estate-planning/liability-unpaid-gift-tax" target="_blank">read more</a></p> http://wealthmanagement.com/estate-planning/liability-unpaid-gift-tax#comments Taxes Estate Planning Public Mon, 02 Jun 2014 15:08:00 +0000 574191 at http://wealthmanagement.com