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Articles & Seminar Materials
- June 5 NYS Tax Litigation Seminar: Completion Certificate June 2, 2025
- June 5 NYS Tax Litigation Seminar — Outline May 31, 2025
- June 5 Tax Litigation Seminar — Supplementary Materials May 14, 2025
- June 5 CPE Seminar: NYS Tax Litigation — Practice & Procedure April 28, 2025
- March 13 CPE Seminar: Supplementary Materials March 4, 2025
- Income Taxation of New York Trusts & 2025 Planning Strategies March 4, 2025
- Webinar Recording of 1031 Final Regulations Seminar January 16, 2025
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Category Archives: News
Business Succession Planning Involving Family Members
Business Succession Planning Involving Family Members Continue reading
DOMESTIC ASSET PROTECTION TRUSTS
DOMESTIC ASSET PROTECTION TRUSTS
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I.R.S. Says Its Audits of Wealthy Are Rising
The Internal Revenue Service is intensifying its scrutiny of wealthy Americans. The federal agency increased its audits of taxpayers who earned $1 million to $5 million by 33 percent last year compared with 2008, new I.R.S. figures show. The numbers, … Continue reading
PRESIDENT BUSH SIGNS $350+ BILLION TAX CUT
After lengthy deliberations between feuding House and Senate Republicans, a tax bill has emerged which provides $350 billion in temporary tax cuts, and more than $700 billion in permanent cuts if key provisions, scheduled to expire, are reenacted. President Bush … Continue reading
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2006 REGS, RULINGS & IRS PRONOUNCEMENTS
Since IRA accounts often reflect a lifetime of retirement savings, their inclusion in a QTIP trust is important. Rev. Rul. 2000-2 stated that IRA proceeds may qualify for a QTIP election if the surviving spouse may compel a trustee to … Continue reading
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Tax Outlook for 2008
Printer-friendly PDF: Tax Outlook for 2008.wpd A. Income Tax Personal income tax rates reached a historic low of 28% under President Reagan in 1988. Pre-EGTRRA rates were increased in 1993 to 39.6%. Under EGTRRA, the highest personal income … Continue reading
Posted in News, Tax News & Comment
Tagged 2008 income tax, AMT, EGTRRA, President Bush, Senator Clinton
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President Bush Proposes Further Tax Cuts
President Bush has proposed a $674 billion stimulus package featuring marginal rate tax cuts and an exclusion from gross income of most dividends. Both provisions would be retroactive to January 1, 2003. The exclusion would apply only to dividends already … Continue reading
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2002 Gift and Estate Tax Decisions of Note
The viability of and the discounts attributable to interests in family entities were again the subject of considerable litigation in 2002. The Fifth Circuit in Estate of Strangi, 293 F.3d 279, affirmed the Tax Court’s holding that Strangi’s estate planning … Continue reading
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Supreme Court Upholds NYC Tax Liens Against India
The Supreme Court has held that the Foreign Sovereign Immunities Act (FSIA) does not immunize a foreign government from a New York City declaratory judgment action brought to declare the validity of real property tax liens asserted against India. Permanent … Continue reading
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Recent IRS Rulings and Pronouncements — October 2007
The IRS has granted return preparers transitional relief from the revised IRC §6694 penalties enacted under the Small Business and Work Opportunity Tax Act of 2007. The Act made significant changes to return preparer penalties under IRC § 6694, effective … Continue reading
Posted in IRS Matters, News, Tax News & Comment
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PRESIDENT BUSH URGES CONGRESS TO MAKE TAX CUTS PERMANENT
President Bush has urged Congress to make permanent various tax relief provisions which include (i) the $1,000 per child tax credit; (ii) the 15% dividends and capital gains tax rates, expiring after 2008; (iii) “bonus” depreciation provisions applicable to qualifying … Continue reading
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2007 Estate and Gift Tax Decisions of Note
President Bush Proposes $150 Billion Stimulus Package Continue reading
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USE OF DISCLAIMERS IN POST-MORTEM ESTATE PLANNING
Many Wills have been drafted to eliminate the estate tax at the first spouse’s death by (i) funding a credit shelter trust with the maximum amount such that no estate taxes are due and then (ii) leaving the remaining share … Continue reading
Posted in News, Tax Decisions, Tax News & Comment
Tagged disclaimers, estate, post-mortem estate planning, renounce
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2009 Gift & Estate Tax Decisions of Note
2009 Gift & Estate Tax Decisions of Note
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