Robert B. Wynne and Alexia L. Faraguna (McGuireWoods LLP): IRS Announces New Audit Program for Retirement Plans (June 7, 2022)

Robert B. Wynne and Alexia L. Faraguna of McGuireWoods LLP, have made available for download their article, “IRS Announces New Audit Program for Retirement Plans,” published on McGuireWoods’s website. The abstract is as follows: On June 3, 2022, the IRS announced it is launching a pilot pre-examination retirement plan compliance program, which generally will be effective … Continue reading Robert B. Wynne and Alexia L. Faraguna (McGuireWoods LLP): IRS Announces New Audit Program for Retirement Plans (June 7, 2022)

Jay A. Soled and Richard Schmalbeck: Substance Over Form in Transfer Tax Adjudication (May 20, 2022)

Jay A. Soled and Richard Schmalbeck, of Rutgers University and Duke University School of Law, have made available for download their article, Substance Over Form in Transfer Tax Adjudication, published in Loyola of Los Angeles Law Review. The abstract is as follows: The elevated exemption level under the federal transfer tax system (now in excess … Continue reading Jay A. Soled and Richard Schmalbeck: Substance Over Form in Transfer Tax Adjudication (May 20, 2022)

HBR: Taming the Epic To-Do List (March 26, 2018)

Allison Rimm has published her Harvard Business Review article, “Taming the Epic To-Do List”. The summary of the article is as follows: The to-do list can be an indispensable tool when used to mindfully manage your time. But used indiscriminately, you become its servant. To get control of your priorities, you actually need three lists and a … Continue reading HBR: Taming the Epic To-Do List (March 26, 2018)

HBR: How to Stop Procrastinating (May-June 2022)

Alice Boyes has published her Harvard Business Review article, “How to Stop Procrastinating”. The summary of the article is as follows: Do you keep postponing work you need to do? The problem probably stems from one of three things: your habits and systems (or lack thereof), your desire to avoid negative emotions (like anxiety and … Continue reading HBR: How to Stop Procrastinating (May-June 2022)

HBR: A Practical Plan for When You Feel Overwhelmed (September 23, 2010)

Peter Bregman has published his Harvard Business Review article, “A Practical Plan for When You Feel Overwhelmed”. The article begins as follows: In general, September is often a difficult month: I’m catching up from summer vacation as are many of my clients, projects tend to regain momentum, the Jewish holidays reduce my work days, and … Continue reading HBR: A Practical Plan for When You Feel Overwhelmed (September 23, 2010)

AICPA Tax Insider (May 26, 2022): R&D credit’s interplay with the employee retention credit, IRS audit rates decreased most for wealthy, GAO finds; and More!

R&D credit's interplay with the employee retention creditBy Randy Crabtree, CPAMuch confusion surrounds the rules governing which wages can be used to claim the ERC and R&D tax credits. IRS audit rates decreased most for wealthy, GAO findsIn a study, the US Government Accountability Office finds that the IRS's individual tax audit rates decreased by … Continue reading AICPA Tax Insider (May 26, 2022): R&D credit’s interplay with the employee retention credit, IRS audit rates decreased most for wealthy, GAO finds; and More!

IRS Tax Tip: Wedding planning checklist: cake, rings, flowers … tax forms? (May 18, 2022)

The IRS noted that the summer wedding season is fast approaching. Wedding planning is often overwhelming but figuring out how marriage will affect a couple's tax situation doesn't have to be. Here are a few things couples should think about as they prepare for the big day. Name and address changes People who change their … Continue reading IRS Tax Tip: Wedding planning checklist: cake, rings, flowers … tax forms? (May 18, 2022)

Billionaire Must Stand Trial in Largest US Tax-Evasion Case (May 23, 2022)

Bloomberg Tax has published an article titled Billionaire Must Stand Trial in Largest US Tax-Evasion Case. The article begins as follows: The judge overseeing billionaire Robert Brockman’s tax evasion case, the largest against an individual in US history, rejected his claims that dementia leaves him incompetent to stand trial.US District Judge George C. Hanks Jr.’s … Continue reading Billionaire Must Stand Trial in Largest US Tax-Evasion Case (May 23, 2022)

AICPA Tax Insider (May 19, 2022): Building a tax-efficient retirement income plan for clients, IRS blames old tech in destruction of information returns; and More!

Building a tax-efficient retirement income plan for clientsBy Kelley C. Long, CPA/PFSFor retirees, effective tax planning requires taking a long view and spending down assets from a variety of sources each year. IRS blames old tech in destruction of information returnsThe IRS responds to a report by the Treasury Inspector General for Tax Administration that … Continue reading AICPA Tax Insider (May 19, 2022): Building a tax-efficient retirement income plan for clients, IRS blames old tech in destruction of information returns; and More!

IRS Tax Tip: School is out for the summer, but tax planning is year-round (May 17, 2022)

The IRS noted that the April filing deadline has passed, most people are spending more time thinking about summer vacations than taxes. However, summer is a great time to review withholding and see if summer plans will affect next year's tax return. Below are some common summertime tax situations and tips to help taxpayers figure … Continue reading IRS Tax Tip: School is out for the summer, but tax planning is year-round (May 17, 2022)

KPMG Webcast: Family Office Fridays: Section 1202 Exclusion for Sale of Qualified Small Business Stock – May 20, 2022

KPMG is offering a free webcast to discuss Section 1202 Exclusion for Sale of Qualified Small Business Stock. The summary is as follows: Section 1202 encourages investment in certain corporations by allowing taxpayers to exclude some (or all) of the taxpayer’s gain on the disposition of the entity.  Although section 1202 has been around for … Continue reading KPMG Webcast: Family Office Fridays: Section 1202 Exclusion for Sale of Qualified Small Business Stock – May 20, 2022

HBR Hotlist (May 16, 2022): The Key to Retaining Young Workers? Better Onboarding.; Cautionary Tales from Cryptoland by Thomas Stackpole; and More

The Key to Retaining Young Workers? Better Onboarding.By Donald Tomaskovic-Devey, Reyna Orellana, Ten ways employers can create jobs young people actually want to grow in. BUSINESS AND SOCIETYCautionary Tales from Cryptoland by Thomas StackpoleA Q&A with software engineer and Web3 critic Molly White. EMPLOYEE RETENTIONThe Downsides of Making a Counteroffer to Retain an Employee by … Continue reading HBR Hotlist (May 16, 2022): The Key to Retaining Young Workers? Better Onboarding.; Cautionary Tales from Cryptoland by Thomas Stackpole; and More

Rev. Rul. 2022-10: Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property

The IRS has released Rev. Rul. 2022-10 which provides various prescribed rates for federal income tax purposes for June 2022. Table 1 contains the short-term, mid-term, and long-term applicable federal rates (AFR) for the current month for purposes of section 1274(d) of the Internal Revenue Code. Table 2 contains the short-term, midterm, and long-term adjusted … Continue reading Rev. Rul. 2022-10: Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property

Jeffrey Pennell and Reid K. Weisbord: Trust Alteration and the Dead Hand Paradox (April 20, 2022)

Jeffrey Pennell and Reid K. Weisbord, of Emory University School of Law and Rutgers Law School, have made available for download their article, Trust Alteration and the Dead Hand Paradox, published in ACTEC Law Journal. The abstract is as follows: Trusts are popular instruments for wealth transmission because they can be crafted to suit almost … Continue reading Jeffrey Pennell and Reid K. Weisbord: Trust Alteration and the Dead Hand Paradox (April 20, 2022)

Forbes: Registered Agent’s Mistake Leads To Liability Of Zions For Failure To Honor A Levy In Bergstrom (May 9, 2022)

Forbes has published an article, “Registered Agent’s Mistake Leads To Liability Of Zions For Failure To Honor A Levy In Bergstrom”, which discusses Bergstrom v. Zions Bancorp.. The article begins as follows: In 2007, a Nevada court entered a $2.1 million judgment against Robert S. Michaels and a company called Northamerican Sureties, Ltd. That same … Continue reading Forbes: Registered Agent’s Mistake Leads To Liability Of Zions For Failure To Honor A Levy In Bergstrom (May 9, 2022)

Procedurally Taxing: What to Do After Receiving a Notice of Claim Disallowance (May 10, 2022)

Keith Fogg has made available for download his article, “What to Do After Receiving a Notice of Claim Disallowance” published on Procedurally Taxing blog. The article begins as follows: The National Taxpayer Advocate wrote a blog post last month highlighting a potential trap for the unwary who receive a notice of claim disallowance and think that they … Continue reading Procedurally Taxing: What to Do After Receiving a Notice of Claim Disallowance (May 10, 2022)

AICPA Tax Insider (May 12, 2022): Adopting a child: Tax planning considerations, Procedures for Puerto Rico residents to claim a 2021 child tax credit; and More!

Adopting a child: Tax planning considerationsBy Kaitlin Newkirk, CPA; David Randolph, CPA, Ph.D.; and Cam Cockrell, Ph.D.Targeted tax benefits -- both federal and from some states -- can help subsidize the cost of adoption, but parents should also be aware of income phaseouts of those benefits and nontax costs. Procedures for Puerto Rico residents to … Continue reading AICPA Tax Insider (May 12, 2022): Adopting a child: Tax planning considerations, Procedures for Puerto Rico residents to claim a 2021 child tax credit; and More!