Forbes has published an article, “How IRS Can Tax ‘Gifts’ and Impose Big Penalties”, which discusses the importance of reporting gifts to avoid costly tax penalties. The article begins as follows: Are gifts income the IRS can tax? Fortunately, no, but the line between what is income and what is a gift is sometimes fuzzy. … Continue reading Forbes: How IRS Can Tax ‘Gifts’ and Impose Big Penalties (April 18, 2022)
Author: Anthony Tran
Kitces: Measuring The ‘Best’ Marketing Strategies And The Second Kitces Research Study On Advisor Marketing (April 18, 2022)
Kitces has made available for download their article, “Measuring The ‘Best’ Marketing Strategies And The Second Kitces Research Study On Advisor Marketing”, published on Kitces. The Executive Summary begins as follows: One of the largest hurdles for many financial advisors is not in developing the technical skills to be able to give good advice to … Continue reading Kitces: Measuring The ‘Best’ Marketing Strategies And The Second Kitces Research Study On Advisor Marketing (April 18, 2022)
Forbes: Don’t Tax The Wealth Of The Rich, Tax What They Borrow (April 16, 2022)
Forbes has published an article, “Don’t Tax The Wealth Of The Rich, Tax What They Borrow”, which discusses a more efficient method of taxing the wealthy. The article begins as follows: ProPublica recently reported on a “trove of IRS data” that showed “the incomes and tax rates of the 400 Americans with the highest incomes from … Continue reading Forbes: Don’t Tax The Wealth Of The Rich, Tax What They Borrow (April 16, 2022)
NY Times: Reverse Mortgages Are No Longer Just for Homeowners Short on Cash (April 1, 2022)
Susan B. Garland, in his New York Times article, discusses the advantages of reverse mortgages. His article, “What Retirement Means for Your Taxes”, begins as follows: After her husband died suddenly from a fall in 2016, Marjorie Fox decided to hold off on any big decisions. She waited two years to retire as a financial planner and … Continue reading NY Times: Reverse Mortgages Are No Longer Just for Homeowners Short on Cash (April 1, 2022)
Daniel J. Hemel: How Treasury and the IRS Have Allowed High-Net-Worth Taxpayers to Exploit Stepped-Up Basis on Intergenerational Wealth Transfers, and How They Can Stop It: Answers to Question for the Record (January 17, 2022)
Daniel J. Hemel, of University of Chicago - Law School, has made available for download her article, “How Treasury and the IRS Have Allowed High-Net-Worth Taxpayers to Exploit Stepped-Up Basis on Intergenerational Wealth Transfers, and How They Can Stop It: Answers to Question for the Record". The abstract is as follows: This document, prepared as … Continue reading Daniel J. Hemel: How Treasury and the IRS Have Allowed High-Net-Worth Taxpayers to Exploit Stepped-Up Basis on Intergenerational Wealth Transfers, and How They Can Stop It: Answers to Question for the Record (January 17, 2022)
Louis Vlahos: Attention Congress: Focus On the Estate Tax Regime; Leave the Income Tax Alone (April 8, 2022)
Louis Vlahos, of Rivkin Radler LLP, has made available for download his article, “Attention Congress: Focus On the Estate Tax Regime; Leave the Income Tax Alone”, published in JDSUPRA. The abstract is as follows: The White House last week released the President’s Budget for the Fiscal Year 2023.[ii] The Budget is ambitious, but its “investments,” we … Continue reading Louis Vlahos: Attention Congress: Focus On the Estate Tax Regime; Leave the Income Tax Alone (April 8, 2022)
Everything Lubbock: Oregon ends residency rule for medically assisted suicide (March 28, 2022)
Everything Lubbock has published an article, “Oregon ends residency rule for medically assisted suicide,” which discusses how Oregon will no longer require people to be residents of the state to use its law allowing terminally ill people to receive lethal medication.. The article begins as follows: Oregon will no longer require people to be residents … Continue reading Everything Lubbock: Oregon ends residency rule for medically assisted suicide (March 28, 2022)
Charles E. Rounds Jr.: Tracing and recovering real estate wrongfully removed from trusts: End-running the full-faith-and-credit obstacle (April 1, 2022)
Charles E. Rounds Jr., of Suffolk University Law School, has made available for download his article, “Tracing and recovering real estate wrongfully removed from trusts: End-running the full-faith-and-credit obstacle”, published in JDSUPRA. The abstract is as follows: Judgments of the courts of the state where entrusted land is sited are binding on the courts of … Continue reading Charles E. Rounds Jr.: Tracing and recovering real estate wrongfully removed from trusts: End-running the full-faith-and-credit obstacle (April 1, 2022)
HBR: Building Healthy Habits When You’re Truly Exhausted (April 1, 2022)
Elizabeth Grace Saunders has published her Harvard Business Review article, "Building Healthy Habits When You’re Truly Exhausted". The article begins as follows: Forming a new habit in the best of times can be difficult, let alone trying to make changes when you’re already spent. The last couple of years have stretched almost everyone. And you … Continue reading HBR: Building Healthy Habits When You’re Truly Exhausted (April 1, 2022)
Deloitte: Tax News & Views (April 1, 2022)
Deloitte has published their Tax News & Views which discusses the the Securing a Strong Retirement Act of 2022 that cleared the House on March 29. The abstract is as follows: The House voted 414-5 on March 29 to approve bipartisan retirement security legislation aimed at making it easier for businesses to offer tax-qualified retirement … Continue reading Deloitte: Tax News & Views (April 1, 2022)
Forbes: Secure 2.0 Retirement Bill Mandates Roths And More (March 31, 2022)
Forbes has published an article, “Secure 2.0 Retirement Bill Mandates Roths And More”, which discusses the numerous provisions of the big retirement bill that the House passed this week, known as Secure 2.0. The article begins as follows: The big retirement bill that the House passed this week, known as Secure 2.0, has several provisions … Continue reading Forbes: Secure 2.0 Retirement Bill Mandates Roths And More (March 31, 2022)
The Tax Adviser: ‘SECURE 2.0’ would further expand retirement saving options (March 30, 2022)
The Tax Adviser has published an article, “'SECURE 2.0’ would further expand retirement savings options,” which discusses the 'SECURE 2.0' act and the bill's provisions that are intended to expand coverage and increase retirement savings. The article begins as follows: An eventual extension to 75 as the age by which retirees must withdraw required minimum … Continue reading The Tax Adviser: ‘SECURE 2.0’ would further expand retirement saving options (March 30, 2022)
Federal Tax Crimes: More District Court Thrashing Around on Arbitrary and Capricious Calculation of Willful FBAR Penalties (March 30, 2022)
Jack Townsend has made available for download his article, “More District Court Thrashing Around on Arbitrary and Capricious Calculation of Willful FBAR Penalties", published on his Federal Tax Crimes blog. The abstract is as follows: I have written before on the saga of Timberly Hughes. Court Sustains Willful FBAR Penalty for Two of Four Years (Federal Tax … Continue reading Federal Tax Crimes: More District Court Thrashing Around on Arbitrary and Capricious Calculation of Willful FBAR Penalties (March 30, 2022)
Bradley R. Marsh and Ruben Sislyan (Greenberg Traurig LLP): California SB 113 Eliminates Suspension on NOL Deductions, Lifts Limitation on Use of Tax Credits, and Expands Elective Pass-Through Tax (February 14, 2022)
Scott E. Fink, Pallav Raghuvanshi, and Kenneth Zuckerbrot, of Greenberg Traurig LLP, have made available for download their article, “4th Circuit Holds Tax Penalty Obligations Are Not Voidable Fraudulent Transfers”, published in a Greenberg Traurig Alert. The abstract is as follows: The Fourth Circuit in Cook v. United States held that federal tax penalty assessments and the payments the debtor made were not voidable … Continue reading Bradley R. Marsh and Ruben Sislyan (Greenberg Traurig LLP): California SB 113 Eliminates Suspension on NOL Deductions, Lifts Limitation on Use of Tax Credits, and Expands Elective Pass-Through Tax (February 14, 2022)
KPMG: International tax proposals in Biden Administration’s budget for FY 2023 (March 30, 2022)
KPMG reports that the U.S. treasury department released details of tax proposals in the administration’s budget recommendations for FY 2023 in the “Green Book.”. It’s summary begins as follows: Significant international tax proposals in the FY 2023 budget include the following (this list sets outs a high-level description and is not exhaustive): Repeal and replace … Continue reading KPMG: International tax proposals in Biden Administration’s budget for FY 2023 (March 30, 2022)
Frank Santoro: The Case Settled (March 29, 2021)
Frank Santoro, of New York Trusts & Estates Litigation Blog, has published his article titled “The Case Settled,” where he describes the benefits of settlements using the example of Matters of Eckert. The summary is as follows: Courts greatly appreciate when parties settle their disputes by agreement. Settlements alleviate the courts of the burden of overwhelming caseloads, and further … Continue reading Frank Santoro: The Case Settled (March 29, 2021)
NY Times: What Retirement Means for Your Taxes (March 25, 2022)
Mark Miller, in his New York Times article, discusses the key ways that income is taxed in retirement. his article, “What Retirement Means for Your Taxes”, begins as follows: If you dread tax day every year, here’s a bit of good news: Your tax burden probably will lighten when you retire.You’ll still pay taxes on income you … Continue reading NY Times: What Retirement Means for Your Taxes (March 25, 2022)
NY Times: Trade Your Crypto. Buy Your NFTs. And Pay Your Taxes (March 26, 2022)
David Yaffe-Bellany and Ron Lieber, in their New York Times article, discusses tools that help investors better understand their returns on cryptocurrency. Their article, “Trade Your Crypto. Buy Your NFTs. And Pay Your Taxes”, begins as follows: The Internal Revenue Service may run on ancient technology, but that isn’t stopping it from taking its cut from your … Continue reading NY Times: Trade Your Crypto. Buy Your NFTs. And Pay Your Taxes (March 26, 2022)
The Tax Adviser: Various exempt organization notices paused (March 25, 2022)
The Tax Adviser has published an article, “Various exempt organization notices paused” which discusses the how IRS is suspending its issuance of 10 notices generally sent to tax-exempt organizations about late return filings. The article begins as follows: The IRS said Friday it is suspending its issuance of 10 notices generally sent to tax-exempt organizations … Continue reading The Tax Adviser: Various exempt organization notices paused (March 25, 2022)
Florida Probate & Trust Litigation Blog: Do you need a court order to file a late elective-share claim? (March 21, 2022)
Juan C. Antúnez, in his Florida Probate & Trust Litigation Blog, discusses a surviving spouse’s right to an “elective share”. The article begins as follows: A surviving spouse’s right to an “elective share” reflects Florida’s strong public policy favoring the protection of surviving spouses. On the other hand, the fact that elective-share claims are subject … Continue reading Florida Probate & Trust Litigation Blog: Do you need a court order to file a late elective-share claim? (March 21, 2022)
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