Monthly Archives: February 2013

Portability of Estate Tax Exclusion — Did Congress Guild the Lily?

View in PDF:   Tax News & Comment — February 2013 I.     Introduction As part of the 2010 Tax Act, Congress enacted a statute allowing a surviving spouse to utilize the unused portion of the predeceasing spouse’s lifetime estate tax … Continue reading

Posted in Estate Planning, Lifetime Exclusion, Portability | Tagged , , , , , , , , , , , , , , , , , , , ,

Use of Disclaimers in Pre and Post-Mortem Estate Planning

View in PDF:  Tax News & Comment — February 2013 Introduction Disclaimers can be extremely useful in estate planning. A person who disclaims property is treated as never having received the property for gift, estate or income tax purposes. This … Continue reading

Posted in Disclaimers, Estate Planning, Post Mortem Estate Planning, Probate & Administration | Tagged , , , , , , , , , , , , , ,

Elder Law Planning: Deciphering the Puzzle

View in PDF:  Tax News & Comment — February 2013 Elder Law Planning:  Deciphering the Puzzle I.       Social Security The Social Security program, begun during the Great Depression under President Roosevelt, is the forerunner of Medicare and Medicaid. The … Continue reading

Posted in Elder Law | Tagged , , , , , , , , , , , , , , , , , , , ,

2012 Regulations, Rulings & Pronouncements of Note

View in PDF:  Tax News & Comment — February 2013 2012 Regulations, Rulings & Pronouncements of Note I.   Taxpayer Advocate Report National Taxpayer Advocate Nina E. Olson issued the agency’s annual report to Congress on January 9, 2013. The report … Continue reading

Posted in IRS Rulings & Regulations | Tagged , , , , , , , , , , , , , ,

2012 Gift & Estate Tax Decisions of Note

View in PDF:  Tax News & Comment — February 2013 2012 Gift & Estate Tax Decisions of Note I.    Formula Clauses The Tax Court in Wandry v. Com’r, T.C. Memo 2012-88, nonacq., 2012-46 I.R.B. upheld a defined value clause containing … Continue reading

Posted in Gift & Estate Tax Decisions of Note, Gift Tax Planning, News, Tax Decisions, Tax News & Comment | Tagged , , , , , , , , , , , , , , , , , , , , , ,

2012 Taxpayer Relief Act & Tax Outlook for 2013

View in PDF:  Tax News & Comment — February 2013 2012 Taxpayer Relief Act & Tax Outlook for 2013 I.  Overview of Act On January 2, President Obama signed the American Taxpayer Relief Act of 2012 (the Act) into law, … Continue reading

Posted in From Washington, News, Tax News & Comment | Tagged , , , , , , , , , , , , , , , , , , , , , , ,

Tax News & Comment — February 2013

View in PDF:  Tax News & Comment — February 2013

Posted in Tax News & Comment | Tagged , , , , , , , , , , , , , , , , , , , , , ,