LISI WEEKLY DIGEST [Subscription Required]
| Steve Leimberg’s Estate Planning Newsletter | |
| · August 27 – | Steve Leimberg – Review of the 13TH Edition of Tools and Techniques of Financial Planning |
| · August 25 – | Paul Hood: Exercising Swap Powers, Part 1 |
| Steve Leimberg’s Business Entities Newsletter | |
| · August 26 – | Brandon Ketron, Alan Gassman & Kevin Cameron: SBA Releases New Interim Final Rules Placing Restrictions on Payments to Related Parties |
| · August 24 – | Alan S. Gassman, Brandon L. Ketron, Patrick Collins & Ian MacLean: Understanding the PPP Workforce Reduction Rules after the August 4th, 2020 FAQs – Exceptions, Guidance & Resources |
| Bob LeClair’s Finance and Markets Newsletter | |
| · August 23 – | Finance 8.22.2020 |
| Actual Text | |
| · August 28 – | FS-2020-13 (27 August 2020) IRS Fact Sheet on Opportunity Zones |
| · August 28 – | Annette Marie Diaz v. Mary K. Viegelahn, No. 19-50982 (26 August 2020) Fifth Circuit Finds Bankruptcy Plan Requiring Debtor to Turn Over Tax Refund Invalid |
| · August 28 – | Estate of Forrest E. Mars Jr. et al. v. Commissioner, No. 7104-20 (18 July 2020) Heirs to Mars Candy Estate File Petition Challenging IRS Estate & Gift Tax Assessment |
| · August 27 – | REG-124737-19 (21 August 2020) IRS Issues Prop. Regs. on Coordination of Extraordinary Disposition and Disqualified Basis Rules |
| · August 27 – | T.D. 9909 (21 August 2020) IRS Issues Final Regs. Addressing Limitation on Deduction for Dividends Received from Certain Foreign Corporations and Amounts Eligible for Section 954 Look-Through Exception |
| · August 26 – | Senate Financie Committee Issues Report on Conservation Easements |
| · August 26 – | Social Security Administration Addresses Elimination of Payroll Taxes |
| · August 26 – | United States v. Nancy Zak et al., No. 1:18-cv-05774 (24 August 2020) Counterclaim for Improper Disclosure Is Dismissed in Conservation Easement Tax Scheme Suit |
| · August 25 – | IR-2020-187 (24 August 2020) IRS Reminds Taxpayers of August 31 Deadline to Rollover or Repay Retirement Plan Distributions |
| · August 25 – | IR-2020-188 (24 August 2020) IRS Provides Information on Designating Taxpayer Disputes for Litigation |
| · August 25 – | FAQs on Coronavirus-related Relief for Retirement Plans and IRAs |
| · August 24 – | PLR 202034007 (28 May 2020) Estate’s Gift to Public Charity Qualifies as Unusual Grant |
| · August 24 – | PLR 202034008 (26 May 2020) Unexpected Cash Contribution to Charity Is Considered Unusual Grant |
| · August 24 – | PLR 202034002 (21 May 2020) Surviving Spouse’s Rollover of Interest in IRA to IRAs in Her Name Are Not Transfers |
| · August 24 – | Ivan K. Phillips et ux. v. IRS, No. 18-00143 (17 April 2020) Tax Liens Attached to Annuity Payments Pass Through Bankruptcy |
| LISI Podcasts | |
| · August 27 – | 60-Second Planner: PLR 202034002 — Spousal Rollover of IRA Payable to Trust |
| · August 25 – | 60-Second Planner: IR 2020-187 — August 31 Deadline to Repay RMDs |
| Blog Watch | |
| · August 28 – | IRS Temporarily Expands the Use of Electronic Signatures for a Limited Set of Forms |
| “The memorandum seems to allow virtually any e-signature system to be used for the purposes of this specific relief…” | |
| Additional coverage: Don’t Mess with Taxes | |
| · August 28 – | Tips for Charitable Donations of Bitcoin |
| “The appraisal requirement is an oft-overlooked part of noncash giving. It is particularly important for donations of Bitcoin and virtual currency…” | |
| · August 27 – | Compassionate Allowances: Five Conditions Added to Fast Track |
| “… we use the Compassionate Allowances program to help us identify and fast-track cases where people have medical conditions and diseases that are most likely to meet Social Security’s standards for disability benefits.” | |
| · August 26 – | Relief Beyond August 31 for RMD Repayments |
| “…if you are a “qualified individual,” you don’t have to sweat the August 31 or 60-day deadlines at all because you have plenty of time to repay your RMD.” | |
| · August 25 – | Virginia Supreme Court Adds Some Clarity on the Creation and Scope of Life Estates in Virginia |
| “This opinion [Sandra Flora Snead Larsen v. Pamela Larsen Stack, et al.] provides a useful analysis of life estates in Virginia, including how they are created in wills or otherwise.” | |
| · August 24 – | Billionaire Who Vowed To Pay Off Student Loans Of Morehouse College Graduates Fights Criminal Tax Probe |
| “Federal authorities have spent four years examining whether Smith failed to pay U.S. taxes on about $200 million in assets that moved through offshore structures,…” | |
| · August 24 – | Remote Execution of Wills in the U.K. |
| “…following the revision, [the physical presence] requirement will be lifted and live video calling will suffice for the witness requirement.” | |
| · August 24 – | Blackbird – Film Depicts Medical Aid in Dying with All Star Cast |
| “The film will be available on demand September 18, 2020. It stars Susan Sarandon, Kate Winslet, Sam Neill, Rainn Wilson, and Mia Wasikowska.” | |
| · August 24 – | SBA Defines Owner-Employees as Those Holding a 5% or More Interest, Clarifies Certain Lease Nonpayroll Cost Issues |
| “The August 24, 2020 IFR does not use the 20% ownership test, rather using a 5% ownership trigger.” | |
| · August 23 – | Harpers Article — Elder Abuse: Nursing homes, the Coronavirus, and the Bottom Line |
| “The article covers the impact of the pandemic and the efforts by the industry to get shield laws to provide them immunity.” | |
| · August 23 – | IRS Finalizes Reg on Payments to Charities |
| “The final regulations include safe harbors applicable to payments made to a charitable entity for which the payor receives or expects to receive a State or local tax credit…” | |
| LISI Journals | |
| · August 28 – | Secular Stagnation and Interest Rates Eric Tymoigne – Trusts & Estates |
| · August 28 – | Recovery and the Risk of Inflation In the Post-COVID-19 Economy Leo Feler and Jerry Nickelsburg – Trusts & Estates |
| · August 28 – | An MMT Perspective on the U.S. Crisis William Mitchell – Trusts & Estates |
| · August 28 – | Loans to Trust Beneficiaries Kristin Abati – Trusts & Estates |
| · August 28 – | Overcoming the Great Divide David MacMahan – Trusts & Estates |
Wealth Strategies Journal 