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Tag Archives: Congress
From Washington & Albany — August 2014
I. From Albany: Perils of Being a Rich State in the Federal System If the United States were the European Union, New York, Connecticut and New Jersey could be compared to Germany and France, which subsidize less wealthy E.U. members. … Continue reading
Posted in Federal Income Tax, From Albany, From Washington, Like Kind Exchanges, New York State Income Tax
Tagged 1031, 1031 exchange, Congress, federalism, high income tax states, new york estate tax, President Obama, president obama tax proposals, states with no income tax, tax legislation, tax planning, unequal taxation in states
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Tax News & Comment — February 2014
Posted in Tax News & Comment
Tagged 1031, applicable exclusion amount, carryover basis, Congress, credit shelter trust, doma, estate planning, estate tax, Health Insurance Regulations, Medicare Tax, new york estate tax, New York Trust Fiduciaries, New York Trustees, President Obama, Revenue Ruling 85-13, Trustee Commissions, Windsor v. United States
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Like Kind Exchanges in Crosshairs of President Obama and Congress
Like Kind Exchanges in Crosshairs of President Obama and Congress The Joint Committee on Taxation recently released its estimates of federal tax expenditures for the years 2012 through 2017. The five-year cost for Section 1031 was estimated to be $42 … Continue reading
Estate Planning in 2013
Posted in Estate Planning, Estate Planning in 2013, Estate Planning in 2013, News, Treatises
Tagged applicable exclusion amount, carryover basis, completed gift, Congress, estate planning, estate tax, form 709, gift tax, gross estate, GST, marital deduction, new york estate tax, QTIP, QTIP election, surviving spouse, tax planning
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Summary of Tax Changes Under American Taxpayer Relief Act of 2012
(1) Ordinary Income. Beginning in the 2013 taxable year, single taxpayers with ordinary income over $400,000 and married taxpayers filing jointly whose income exceeds $450,000 will be subject to a new higher 39.6 percent tax rate. [These … Continue reading
Posted in News
Tagged Congress, estate tax, gift tax, income tax, irs, Medicare, President Obama, tax legislation, tax planning, treasury
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Second Term Blues Visit President Obama
Congress Grants One Year Reprieve For Affordable Care Payments President Obama has suffered a precipitous decline in his approval rating since late April, when that indicator was at 50 percent. Today, Mr. Obama enjoys the approval of only 45 percent … Continue reading
Posted in From Washington, Tax News & Comment
Tagged Congress, income tax, irs, President Obama, tax lawyer, tax legislation, tax planning, treasury
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Recent IRS Developments — October 2031
I. Taxpayer Advocate Issues 2014 Report National Taxpayer Advocate Nina Olson recently issued a report detailing the issues on which the Taxpayer Advocate Service (TAS) will focus during the fiscal 2014 tax year. IR-2013-63. The Taxpayer Advocate is required by … Continue reading
Posted in IRS, Tax News & Comment
Tagged Congress, estate planning, gift tax, income tax, irs, President Obama, tax legislation, tax planning, treasury
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Tax News & Comment — October 2013
Posted in News, Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, audit, completed gift, Congress, credit shelter trust, deferred exchange, Delaware Asset Protection Trust, disclaimers, division of tax appeals, estate attorney, estate planning, estate tax, form 709, gift tax, income tax, irs, like kind exchange, marital deduction, new york estate tax, President Obama, probate, QTIP, QTIP election, qualified intermediary, statute of limitations, surviving spouse, tax appeals tribunal, tax attorney, tax fraud, tax lawyer, tax legislation, tax planning, treasury, valuation discount
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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 applicable exclusion amount, asset protection, audit, Congress, estate attorney, estate planning, estate tax, gift tax, gross estate, income tax, Internal Revenue Service, like kind exchange, marital deduction, Medicaid, Medicare, new york estate tax, Portability, President Obama, probate, QTIP, tax attorney, tax lawyer, tax planning, valuation discount
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Tax News & Comment — October 2012
View in PDF: Tax News & Comment — October 2012
Posted in Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, asset protection trusts, carryover basis, Congress, credit shelter trust, Delaware Asset Protection Trust, division of tax appeals, estate attorney, estate planning, estate tax, form 709, gift tax, gross estate, GST, income tax, Obama taxes, surviving spouse, tax appeals tribunal, tax attorney, tax lawyer, tax legislation, tax planning
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Differing Tax Visions of President Obama and Governor Romney
Much has been made of the recent revelation that Governor Romney enjoyed a 14 percent tax rate on “carried interest,” which Congress permits to be reported as capital gain. Investors such as Mr. Romney pay a lower rate of tax … Continue reading
Posted in From Washington, Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, asset protection trusts, audit, carryover basis, completed gift, Congress, credit shelter trust, Delaware Asset Protection Trust, disclaimers, division of tax appeals, estate planning, estate tax, gift tax, gross estate, ILIT, income tax, irs
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Tax News & Comment — April 2011
View Issue: Tax News & Comment — April 2011 pril 14, 2011 I. ESTATE TAX RETURNS Calculation and remittance of federal and NYS estate tax is of primary concern in administering an estate. An estate tax return must be filed … Continue reading
Posted in Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, asset protection trusts, audit, carryover basis, completed gift, Congress, credit shelter trust, Delaware Asset Protection Trust, disclaimers, division of tax appeals, estate planning, estate tax, form 709, gift, gift tax, gross estate, GST, ILIT, irs, like kind exchange, new york estate tax, probate, QTIP, QTIP election, qualified intermediary, statute of limitations, surviving spouse, tax appeals tribunal, tax legislation, treasury, valuation discount
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From Washington — Recent Developments, August 2011
VIEW IN PDF: Tax News & Comment — August 2011 A bipartisan deficit-reduction panel is considering ending the preferential tax treatment of capital gains. Although not explicitly mentioned in the plan which is now being considered in the Senate, the … Continue reading
2010 Tax Outlook
© 2010 Law Offices of David L. Silverman, J.D., LL.M, Lake Success, NY 11042 (516) 466-5900 2010 Tax Outlook For PDF version, press here: PFD file I. Proposals From the White House President Obama favors permanently extending tax cuts enacted … Continue reading
Tax News & Comment — August 2014