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Tag Archives: tax legislation
Tax News & Comment — August 2011
VIEW IN PDF: Tax News & Comment — August 2011 Approximately one million U.S. taxpayers have at least one financial account located in a foreign country. Many have not reported their offshore accounts to the IRS, a violation with possible … Continue reading
Posted in Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, asset protection trusts, carryover basis, credit shelter trust, division of tax appeals, estate planning, estate tax, gross estate, irs, new york estate tax, qualified intermediary, statute of limitations, surviving spouse, tax appeals tribunal, tax legislation, tax planning
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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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Tax News & Comment — June, 2010
To view full issue: Tax News & Comment — June, 2010 To View Full Issue: Tax News & Comment — June, 2010 The June, 2010 issue of Tax News & Comment, in “From Washington,” discusses the new $56 billion tax … Continue reading
Posted in Tax News & Comment
Tagged applicable exclusion amount, asset protection, asset protection trusts, carryover basis, completed gift, Delaware Asset Protection Trust, estate planning, estate tax, form 709, gift tax, gross estate, GST, irs, marital deduction, probate, QTIP, QTIP election, qualified intermediary, surviving spouse, tax appeals tribunal, tax legislation, tax planning
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Marital Deduction Planning
PDF: Marital Deduction Planning.wpd I. Review of Current Wills The estate tax will resume no later than January 1, 2011. At that time, the exemption amount may be $1 million (if Congress fails to do anything), or it could … Continue reading
Posted in Estate Planning, Marital Deduction
Tagged applicable exclusion amount, asset protection, asset protection trusts, Delaware Asset Protection Trust, estate planning, estate tax, gift tax, gross estate, GST, marital deduction, surviving spouse, tax appeals tribunal, tax legislation, tax planning
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Gift Planning in 2010
PDF: Tax News & Comment — March 2010 I. Introduction Many taxpayers wish to transfer assets to their children during their lifetimes rather than at their death. Therefore, lifetime transfer planning remains important for reasons wholly independent from the … Continue reading
House Passes $56 Billion “Tax Extenders” Bill
The House, on May 29, by a vote of 215-204, approved a $56 billion tax bill, the “American Jobs and Closing Tax Loopholes Act”. The Senate has already approved a similar measure. President Obama is expected to sign the bill. … Continue reading
2009 Gift & Estate Tax Decisions of Note
2009 Gift & Estate Tax Decisions of Note
Senate Approves Tax Extenders Bill
Friday, March 12, 2010 US Senate Finance Committee Chairman Max Baucus (D – Mont.) has applauded the Senate’s passage of legislation to extend tax cuts, unemployment insurance benefits and eligibility for unemployment benefits and health care for unemployed workers through the end of 2010. The American Workers, State and Business Relief Act, introduced by Baucus last week and passed by the Senate on March 10, extends unemployment insurance benefits and eligibility for the 65% COBRA health care tax credit through December 31, 2010. The COBRA tax credit helps workers who have lost their jobs continue to afford health insurance through the Consolidated Omnibus Budget Reconciliation Act. The legislation also retroactively extends tax cuts for middle‐class families and businesses that expired at the end of 2009, including, for businesses:
Memorandum — Revised New York Criminal Law Statutes
Tax Professionals preparing 2009 New York State corporate, income, employment and sales tax returns should be alert to statutory changes which create new tax offenses and which impose stricter criminal penalties for existing offenses. In some cases, tax professionals may … Continue reading
From The Courts — Recent Developments, August 2011
VIEW IN PDF: Tax News & Comment — August 2011 The Supreme Court, in an unanimous opinion, held that a medical resident whose normal work schedule requires him to perform services 40 or more hours per week, is not a … Continue reading →