More in Taxes

Feb. 19, 2013

Article

Trusts & Estates

United States and Switzerland Sign Landmark Intergovernmental Agreement

David H. Lenok reports on the recent intergovernmental agreement between the United States and Switzerland...More
Feb. 12, 2013

blog

Obama: "Tonight I propose . . ." More Government

It's hard to imagine that President Obama would have the gall to say the words "unsustainable" and "debt" in the same sentence, let alone on the same day. Okay, let's get this straight: Raise the price of something, you get more of it (minumum wage); put aside partisan politics (hilarious); and create more jobs (seize wealth from the private economy and redistribute it to public workers, a.k.a. infrastructure improvements). As if the president of the United States could do all these things and more! ...More
Feb. 5, 2013

Article

Trusts & Estates

Tax Law Update February 2013

David A. Handler & Alison E. Lothes highlight the major tax law developments of the past month...More
Jan. 28, 2013

Article

Trusts & Estates

Sixteen Examples of Qualified Charitable Distributions from Individual Retirement Accounts

Michael J. Jones offers some examples of how QCD transition rules operate in the wake of the American Taxpayer Relief Act...More
Jan. 24, 2013

Article

Trusts & Estates

New Regulations for Type III SOs

On Dec. 28, 2012, the Internal Revenue Service published final regulations regarding Type III supporting organizations (SOs), along with temporary regulations. Gerald B. Treacy, Jr. walks you through them...More
Jan. 20, 2013

blog

Banks Sitting on a Mountain of Cash. Why? Fear of the Unknown --- Future Government Regulations

Is Obama the new FDR? Seems like it to me. Both believed that unelected bureaucrats from Ivy League schools knew better than individual people how to run their businesses, their lives....More
Jan. 7, 2013

Article

Trusts & Estates

We All Make Mistakes

David H. Lenok discusses the IRS' recent show of mercy regarding a taxpayer's GST exemption allocation error...More
Jan. 4, 2013

Article

Trusts & Estates

Healthcare Reform Legislation

Healthcare reform legislation has brought great changes to the U.S. healthcare system. The legislation constitutes sweeping reform, with far reaching implications for employers, individuals, insurance companies and healthcare providers....More
Jan. 3, 2013

blog

The Fiscal Cliff Deal: Drop Back 10 and Punt

I’ll bet you are tired of hearing about the Fiscal Cliff carnival put on by Congress and the president. The bill, signed into law, is rather lame if you ask me....More
Jan. 3, 2013

Article

Trusts & Estates

Permanent Estate & Gift Tax Relief

On Jan. 1, 2013, Congress averted the so-called fiscal cliff by approving new legislation titled the American Taxpayer Relief Act of 2012 (ATRA-2012). President Obama signed the bill into law....More
Jan. 2, 2013

Article

Trusts & Estates

The Meaning of “Reasonable Cause”

In a recent decision, a Massachusetts federal court upheld the Internal Revenue Service’s assessment of penalties when, based on the advice of its accountants, an estate didn’t file a timely estate tax return....More
Dec. 17, 2012

Article

Trusts & Estates

If You Don’t Pay Your Gift Tax On Time…

Dawn S. Markowitz discusses Chief Counsel Memorandum No. 201249015 (released Dec. 7, 2012), in which the IRS determined that underpayment interest for a gift tax deficiency starts to accrue on the date the Year 1 gift tax return was due....More
Dec. 4, 2012

Article

Trusts & Estates

Tax Law Update December 2012

David A. Handler and Alison E. Lothes outline the major tax law developments in the last month...More
Dec. 3, 2012

Video

VIDEO: Taxes Must Rise for Wealthy or No Deal

Treasury Secretary Tim Geithner was everywhere at once Sunday, logging no less than 5 interviews on the looming fiscal crisis. Geithner insisted President Obama will not accept an extension of upper-income tax cuts, but he was optimistic the White House and Congress would reach a deal to avert a wave of tax hikes and spending cuts on January 1....More
Nov. 29, 2012

Article

Trusts & Estates

Sonnabend Case Settles

The Robert Rauschenberg American Eagle, embedded in his composite work entitled “Canyon,” from 1959, has landed at the Museum of Modern Art (MOMA), tax free....More
Nov. 28, 2012

blog

A Third of You Say, ‘Raise Taxes on the Rich!’

Surprisingly, nearly a third (30 percent) of advisors polled by the Financial Services Institute said they believe Americans making over $200,000 should be taxed at a higher rate. That’s still a big percentage, given what that could mean for their clients....More
Nov. 27, 2012

Article

Trusts & Estates

FATCA Deadlines Pushed Back

In response to the many comment letters that it’s received, as well as in recognition of practical challenges that FFIs face when implementing FATCA, on Oct. 24, 2012, the IRS issued an announcement (2012-42) that pushes back several FATCA deadlines....More
Nov. 14, 2012

Article

Trusts & Estates

Taypayer Runs Afoul of Early Distribution Rule

The Tax Court recently addressed whether a taxpayer must pay an additional 10 percent income tax on distributions he received from his qualified retirement plans, despite the fact that the funds were subsequently used to pay court-ordered alimony to the taxpayer’s former spouse....More
Nov. 8, 2012

Article

Reuters

The Mistake is Mutual, InDEED

Legal Editor Dawn S. Markowitz describes the IRS' interesting decision in a recent PLR...More
Nov. 7, 2012

blog

The Morning After: Obama Wins, but What If Romney Had Won?

What if Romney would have won? A gutting of Dodd-Frank?...More
Nov. 6, 2012

blog

Who Wins the Presidential Election Probably Doesn't Matter 1

The solution to America’s fiscal problems is structural. And therefore bigger than the man in the Oval Office. Congress’ cooperation is essential....More
Nov. 6, 2012

Article

Trusts & Estates

Tax Law Update November 2012

David A. Handler and Alison E. Lothes highlight the important developments of the past month...More
Nov. 2, 2012

blog

Wall Street Comp Grid Is Way Different from Progressive Tax Rate System

...More
Oct. 23, 2012

Article

Trusts & Estates

On The Chopping Block

Much has been written about the looming fiscal cliff, a combination of tax increases, expirations and budget cuts set to take place in 2013. Analysts believe that if Congress fails to enact legislation that would extend or change these laws, the United States will hit a fiscal cliff, which may push the economy into another recession....More
Oct. 18, 2012

Article

Trusts & Estates

IRS Posts Form 706 Final Return and Instructions

On Oct. 4, the Internal Revenue Service posted final Form 706 for individuals dying in 2012. It posted final updated instructions on Oct. 12. Here’s an overview of the new form and instructions and how they compare to the prior versions....More