- WSJ: Documents You Need When a Child Turns 18. Parents who want access to information on an adult child’s health, finances or college grades need the child’s permission in writing.
- The Accountants Full Employment Act? by Tax Pro Today.
- How tax overhaul would change business taxes, By Alistair M.
Financial Review has published an article on estate planning for dual nationals, entitled “Double Trouble for Dual Nationals.” It begins as follows:
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Politicians are not the only ones getting into trouble with dual nationality. If you have ties to both Australia and another country, lawyers warn you need to
Tax Professionals: Visit IRS.gov for Data Protection Resources
Tax professionals increasingly are targeted by cybercriminals seeking to steal sensitive client data. Thieves use stolen information to file fraudulent tax returns. These criminals are based both here and abroad. They are highly sophisticated, well-funded and technologically adept. Because of this, tax … Continue reading
In PLR 201750014, the IRS granted an estate an extension to divide a marital trust into exempt and nonexempt trusts, to make a reverse QTIP election for the exempt trust, and that the decedent’s unused GST tax exemption would be allocated to the exempt trust.
In PLR 201750004, the IRS ruled that a subtrust that was the named beneficiary of retirement accounts was a valid see- through trust and, therefore, the required minimum distributions for the applicable retirement accounts are to be calculated based on the life expectancy of the sole designated beneficiary of the … Continue reading
Brett Herbert has posted his article, The Role of the Commissioner of Accounts in Virginia Estate and Trust Administration. It begins as follows:
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People typically picture the probate process going something like this: a person dies, you find their will, you take the will to the courthouse, the executor pays the
See initial observations of the Conference Agreement for the Tax Cuts and Jobs Act at following links:
Vernon Hollemon, III, has made available for download his article,Creating Tax Mitigation, Diversification, and Leverage in Grantor Trusts with Life Insurance, which was published in the Tax Management Estates Gifts & Trust Journal. The abstract is as follows:
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After solid return years in the stock market in both 2013 and 2014, along with
- Sharon L. Klein and Michael Stutman on Sharabani v. Sharabani: The Intersection of Trust & Estates, Matrimonial and Religious Law – Give a Get, or Get it Handed to You!
- Marc Soss on Ajemian v. Yahoo!, Inc.: What Rights Does Your Personal Representative Have to Your E-Mail Account
- Steve Leimberg
Justin T. Miller, of BNY Mellon, has published his article, Charitable LLCs: Have Your Cake + Eat It Too, in Tax Notes Today. This article explains how charitable LLCs avoid restrictions that apply to traditional tax-exempt charitable organizations, and he examines how they can be used (or potentially abused) to generate … Continue reading
The Urban-Brookings Tax Policy Center has released its estimates on the number of estate tax returns and associated estate tax liability under current law as compared to the House and Senate versions of the Tax Cuts and Jobs Act for 2018 to 2027.
The US District Court for the Southern District of New York, in Alex Spizz v. US, held that former shareholders of a now-defunct law firm are personally liable for almost $1.3 million in unremitted withheld payroll taxes to the IRS.
The Internal Revenue Service reminds taxpayers with expiring Individual Taxpayer Identification Numbers (ITINs) to submit their renewal applications as soon as possible. Failing to renew them by the end of the year will cause refund and processing delays in 2018.
The Tax Court, in Stapleton v. Commissioner, held that a couple was not entitled to claim capital loss deductions stemming from the husband’s sale of property to his former wife, finding that the transfer was incident to divorce and the recognition of loss on the sale is barred under Code … Continue reading
The Fifth edition of the Art & Finance report gives insights into how services related to art and collectibles are now becoming a natural part of wealth managers’ service offerings as wealth managers take a more holistic approach to their clients’ assets. For the first time, almost nine out of … Continue reading