Beyer: Recent Cases: Intestacy, Wills, Probate, and Trusts (Aug. 30, 2019)

Professor Gerry W. Beyer has made available for download his article, published in the proceedings of the Texas College of Probate Judges 2019 Annual Meeting, Recent Cases: Intestacy, Wills, Probate, and Trusts (Aug. 30, 2019). The Abstract is as follows: This article discusses judicial developments (mid-2018 to mid-2019) relating to the Texas law of intestacy, … Continue reading Beyer: Recent Cases: Intestacy, Wills, Probate, and Trusts (Aug. 30, 2019)

Proposed regulations: Updated life expectancy, distribution period tables for retirement plans (Nov. 8, 2019)

The U.S. Treasury Department and IRS today released for publication in the Federal Register proposed regulations (REG-132210-18) to update the life expectancy and distribution period tables that are used to calculate required minimum distributions from qualified retirement plans, individual retirement accounts (IRAs) and annuities, and certain other tax-favored employer-provided retirement arrangements. The proposed regulations [PDF 432 KB] … Continue reading Proposed regulations: Updated life expectancy, distribution period tables for retirement plans (Nov. 8, 2019)

Benyamini, Tax-exempt trusts: New guidance on Sec. 199A deduction, The AICPA Tax Adviser (Nov. 1, 2019)

Nanaz Benyamini has published his article, Tax-exempt trusts: New guidance on Sec. 199A deduction in The AICPA Tax Adviser (Nov. 1, 2019). The Abstract is as follows: The IRS has posted informal guidance to explain how trusts that file Form 990-T, Exempt Organization Business Income Tax Return, and have unrelated business income, can claim the qualified … Continue reading Benyamini, Tax-exempt trusts: New guidance on Sec. 199A deduction, The AICPA Tax Adviser (Nov. 1, 2019)

Troy K. Lewis et al., The Taxation of Collectibles, The AICPA Tax Adviser (Nov. 1, 2019)

Troy K. Lewis, CPA, CGMA; Brian C. Spilker, CPA (inactive), Ph.D.; and Kamri S. Call, have published their article, The Taxation of Collectibles in The AICPA Tax Adviser (Nov. 1, 2019). The Abstract is as follows: The tax rate on collectibles is 28%, higher than on other capital gains. Find out what property is defined … Continue reading Troy K. Lewis et al., The Taxation of Collectibles, The AICPA Tax Adviser (Nov. 1, 2019)

Zhao: New rule on nonresident aliens in an S corporation, The AICPA Tax Adviser (Nov. 1, 2019)

Fei Zhao, CPA, has published his article in the AICPA Tax Adviser, New rule on nonresident aliens in an S corporation. The Abstract is as follows: The new tax law provides a way to avoid the unexpected termination of the S election when a nonresident alien becomes a potential current beneficiary of an electing small … Continue reading Zhao: New rule on nonresident aliens in an S corporation, The AICPA Tax Adviser (Nov. 1, 2019)

Wealth X: Ultra Wealthy Population Analysis: The World Ultra Wealth Report 2019

Wealth X has released and made available for download the seventh edition of its World Ultra Wealth Report, which analyzes the state of the world’s ultra wealthy population, or those with $30m or more in net worth, which showed muted growth in 2018, rising by 0.8% to 265,490 individuals. This subdued increase comes on the … Continue reading Wealth X: Ultra Wealthy Population Analysis: The World Ultra Wealth Report 2019

Coal Property Holdings, LLC: Tax Court Holds LLC Denied Charitable Contribution Deduction for Donation of Conservation Easement

The Tax Court, in Coal Property Holdings, LLC v. Commissioner, 153 T.C. No. 7 (Oct. 28, 2019), held that an LLC was not entitled to a charitable contribution deduction because the conservation purpose of the easement was not "protected in perpetuity" as required by Code Sec. 170(h)(5)(A). The Court's Abstract is as follows: In 2013 … Continue reading Coal Property Holdings, LLC: Tax Court Holds LLC Denied Charitable Contribution Deduction for Donation of Conservation Easement