Wealth Strategies Journal

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Author: Quinton Weinstein

Palmolive Building Investors v. Commissioner of Internal Revenue: Tax Court Holds Partnership Not Entitled to Charitable Contribution Deduction

In Palmolive Building  Investors, LLC, DK Palmolive Building Investors Participants, LLC, Tax Matters Partners v. Commissioner of Internal Revenue, the Tax Court ruled that a partnership was not entitled to a charitable contribution deduction for a façade easement on a building since the contribution did not meet perpetuity requirements and … Continue reading

When the IRS Disagrees With a Court, by Jasper Cummings

Jasper Cummings has published his article, “When the IRS Disagrees With a Court.” The summary is as follows:

In this report, Cummings investigates the IRS’s long-standing practice of issuing acquiescences and non-acquiescences to court decisions. He concludes that although a non-acquiescence to an unappealed adverse holding seems unfair to other

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Proposed Federal Estate Tax Law Change: H.R. 3886

Congressman Austin Scott of Georgia has proposed a bill that would alter existing gift and estate tax laws.  The description of the bill reads as follows:

To amend the Internal Revenue Code of 1986 to increase the unified credit against the estate and gift tax and to simplify the estate

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Replacing Charity: Why the IRS Denies Tax Exemption to 501(C)(3) Applicants by Terri Helge

Professor Terri Helge has made available for download her article, “Replacing Charity: Why the IRS Denies Tax Exemption to 501(C)(3) Applicants,” vol. 42, no. 5 (Sept./Oct. 2017). The Abstract is as follows:

New charitable organizations generally must file an application for exemption (Form 1023) and await approval from the Internal Revenue

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Elder Law Issues and Recent Developments by Elizabeth Carter

Professor Elizabeth Carter has made available for download her article, “Elder Law Issues and Recent Developments,” vol. 42, no. 5 (Sept./Oct. 2017). The Abstract is as follows:

These materials are part of the 2017 LSU Recent Developments CLE. The paper includes recent ethical developments; scam and abuse prevention and reporting; recent

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The Texas Revised Uniform Fiduciary Access to Digital Assets Act: a Primer for Estate Planners by Professor Gerry Beyer

Professor Gerry Beyer, has made available for download his article, “The Texas Revised Uniform Fiduciary Access to Digital Assets Act: a Primer for Estate Planners,” vol. 42, no. 5 (Sept./Oct. 2017). The Abstract is as follows:

Prudent professionals must address digital assets in all estates they plan or administer. The 2017

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Camara and Jatta v. Commissioner of Internal Revenue: Tax Court Grants Joint Filing to Husband who Filed Singlely Erroeously

In Fansu Camara and Aminata Jatta v. Commissioner of Internal Revenue, 149 TC no. 13, the Tax Court ruled that a husband who had mistakenly claimed he was single in his 2012 individual income tax return was entitled to the rates and advantages of a joint filing after he petitioned … Continue reading

Spousal Relief not Available to Husband Who Wasn’t Party to Wife’s Offer in Compromise

The United State’s Tax Court in Eric Alan Harris v. Commissioner of Internal Revenue ruled that the petitioner, Mr. Harris, was not entitled to spousal relief since he was not party to his wife’s offer in compromise. Mr. Harris had elected to file file a joint Form 1020 in 2012. … Continue reading

Waiting for the Other Shoe, by Russell Willis

Russell Willis has published his article, Waiting for the Other Shoe., in Tax Notes. The Abstract is as follows:

Russell A. Willis III argues that the logic in the Tax Court’s Estate of Dieringer decision is flawed and that while the Ninth Circuit may reverse, the executor’s troubles may be

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Quinton Weinstein

Associate Editor

quinton.weinstein@lewissaret.com

Education:

George Washington University, Columbian College of Arts and Sciences, B.A. in History, 2019 (expected)

Quinton is currently an undergraduate Junior at GWU studying History. Quinton most recently interned doing criminal defense work.

Pooja joined Wealth Strategies Journal in 2017.… Continue reading

Estate of Michael Jackson v. Commissioner of Internal Revenue: Tax Court Allows Testimony of Expert who Gave False Information

The United States Tax Court in Washington DC denied a motion to exclude the testimony of a government expert witness in a tax proceeding. The expert had given false information about not working on or writing a validation report for the IRS’ Examination Division for the third party’s taxpayer audit. … Continue reading

PLR 201739004: Alaska Native Settlement Trust Qualifies as a Trust

In PLR 201739004, an Alaskan Native settlement trust qualifies as a trust and settles claims relating to land and resources.

See PLR 201739004 by clicking here.… Continue reading

IRA Rollovers to Qualified Plans: the Retained Investment Issue, by Vorris Blankenship 

Vorris Blankenship has published his article, “IRA Rollovers to Qualified Plans: the Retained Investment Issue.” The abstract is as follows:

Vorris J. Blankenship analyzes the treatment of the earnings and investment portions of an IRA distribution that is partly rolled over to a qualified plan, a rollover with consequences often

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