AICPA Tax Insider (September 30, 2021): Donor has no standing to sue donor-advised fund; Final regulations establish a user fee for estate tax closing letters; and More!

Donor has no standing to sue donor-advised fund
By James A. Beavers, CPA, CGMA, J.D., LL.M.
A suit challenging the actions of a donor-advised fund by a donor to the fund was dismissed because the plaintiff lacked standing.

Final regulations establish a user fee for estate tax closing letters
The letters, which the IRS provides as a courtesy to executors and other authorized estate representatives, will now cost $67.

Practitioners’ role in the continuing evolution of Circular 230
By Conrad Davis, CPA
Practitioners and the organizations they are involved with can participate in facilitating the ongoing applicability and effectiveness of Circular 230.

Replacing your ‘how’ with a ‘why’ approach to PFP services
By Jimmy J. Williams, CPA/PFS
You must know why your clients are seeking your advice before building a financial plan that fits their needs.

E&P planning opportunities when acquiring subsidiaries
By Brianne DeSellier, Esq., CPA, LL.M.
The tax impact on future shareholder distributions should be considered prior to liquidating an acquired subsidiary.

Final regs. issued on qualified improvement property under FDII, GILTI
Final regulations clarify the treatment of qualified improvement property in FDII and GILTI, and foreign tax credit transition rules address post-2017 NOL carrybacks to pre-2018 tax years.

The potential for lost benefits of Up-Cs in a Sec. 280E environment
By Caleb Egli, CPA; Nila Loveall, CPA; Marc Claybon, J.D., LL.M.; and Nick Hollinden, CPA
This item summarizes the traditional Up-C/TRA arrangement and addresses the impact of Sec. 280E on the Up-C/TRA structure.

Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.

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