Daily Archives: October 9, 2012

Historic Changes in Tax Law Appear Imminent — October 2012

View PDF of Article in Tax New & Comment — October 2012 HISTORIC CHANGES IN TAX LAW APPEAR IMMINENT — OCTOBER 2012 Barring a significant change in voter sentiment in Ohio, and to a lesser extent in Florida and Virginia, … Continue reading

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Tax News & Comment — October 2012

View in PDF: Tax News & Comment — October 2012

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Recent IRS Developments — October 2012

View Article in Tax News & Comment — October 2012 RECENT IRS DEVELOPMENTS – OCTOBER 2012 Over 50 million Americans are now filing tax returns showing no income tax liability. This represents approximately 35 percent of all personal income tax … Continue reading

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Tax Court Defies IRS: Expands Use of Defined Value Clauses

View Article in Tax News & Comment — October 2012 TAX COURT DEFIES IRS: EXPANDS USE OF DEFINED VALUE CLAUSES The recent loss by the IRS in the Tax Court case Wandry v. Com’r, T.C. Memo 2012-88, added to the … Continue reading

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New York’s Revised Decanting Statute Under EPTL §10-6.6

View Article in PDF:  New York’s Revised Decanting Statute Under EPTL §10-6-6 ESTATE PLANNING MEMORANDUM DATE:    October 10, 2012 RE:        New York’s Revised Decanting Statute Under EPTL §10-6-6 Under the Uniform Trust Code and EPTL §10-6.6, a noncharitable irrevocable … Continue reading

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Tax and Non-Tax Issues Involving Irrevocable Trusts

View Article in PDF in Tax News & Comment — October 2012 TAX AND NON-TAX ISSUES INVOLVING IRREVOCABLE TRUSTS I.    Introduction Prior to the Statute of Wills, enacted by Parliament in 1540, it was impossible for a landowner to devise … Continue reading

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Income Tax Planning for New York Trusts

View PDF of Article in Tax News & Comment — October 2012 INCOME TAX PLANNING FOR NEW YORK TRUSTS I.    Taxation of Resident Trusts “Resident” New York trusts which are not “grantor”” trusts must pay New York State fiduciary income … Continue reading

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