IRS Updated Audit Guide: Structured Settlements

The IRS has updated its Audit Techniques Guide that addresses excise tax on structured settlement factoring transactions. Audit Guides focus on developing highly trained examiners for particular market segments by presenting examination techniques, common and unique industry issues, business practices, industry terminology and other information. To see the updated Structured Settlement Audit Guide click here.

IRS: Updated Audit Techniques Guide: Real Estate Foreclosures, Short Sales and Cancellation of Debt

The IRS has updated its Audit Techniques Guide that addresses the tax consequences for real estate property that is disposed of through foreclosure, short sale, deed in lieu of foreclosure and abandonments. Audit Guides focus on developing highly trained examiners for particular market segments by presenting examination techniques, common and unique industry issues, business practices, … Continue reading IRS: Updated Audit Techniques Guide: Real Estate Foreclosures, Short Sales and Cancellation of Debt

US v. Kohls, 2020-1 U.S.T.C. ¶60,719, (Jan. 2, 2020), executor personally liable for unpaid estate tax

In US v. Kohls, 2020-1 U.S.T.C. ¶60,719, (Jan. 2, 2020), the US District Court for the Southern District of Ohio held that an executor of a decedent’s estate was personally liable for unpaid estate tax after he distributed property to himself and other beneficiaries before paying the estate tax.  The IRS notified the estate that … Continue reading US v. Kohls, 2020-1 U.S.T.C. ¶60,719, (Jan. 2, 2020), executor personally liable for unpaid estate tax

HBR Hotlist.2020.01.06: Breaking Free From Anxiety; Elements of Good Judgment; The Post-Holiday Funk is Real & How to Beat It, and more

HOW ANXIETY TRAPS US, AND HOW WE CAN BREAK FREE BY SABINA NAWAZ SOME EXERCISES FOR REFRAMING YOUR FEARS, DOUBTS, AND UNCERTAINTIES. WORK-LIFE BALANCE What Happens When Your Career Becomes Your Whole Identity By Janna Koretz Don’t let the weight of your job squash your sense of self. DEVELOPING EMPLOYEES Real Mentorship Starts with Company Culture, Not Formal … Continue reading HBR Hotlist.2020.01.06: Breaking Free From Anxiety; Elements of Good Judgment; The Post-Holiday Funk is Real & How to Beat It, and more

SECURE Act Commentary [Updated 2020.01.09]

The following list will be updated periodically as new reports are located. Therefore, please check back periodically. Marketwatch (Dec. 30, 2019): Secure Act includes one critical tax change ‘that will send estate planners reeling’Marketwatch (Dec. 28, 2019): Inheriting a parent’s IRA or 401(k)? Here’s how the Secure Act could create a disaster.Kiplinger (Dec. 30, 2019): … Continue reading SECURE Act Commentary [Updated 2020.01.09]

Loeb & Loeb: High Net Worth Family Tax Report Vol. 14 No. 1 (Jan. 3, 2020): SLATS, 2020 Election Year Changes, Inflation Adjustments, etc.

Loeb & Loeb has issued its latest High Net Worth Family Tax Report. The topics covered, with links to the report are as follows: Using Spousal Lifetime Access Trusts to Exploit the Higher Exemption AmountsUsing Your Non-GST Trust to Lock in High Exemption AmountNew Flat Private Foundation Excise TaxProposed Regulations Regarding Gain on Sales of … Continue reading Loeb & Loeb: High Net Worth Family Tax Report Vol. 14 No. 1 (Jan. 3, 2020): SLATS, 2020 Election Year Changes, Inflation Adjustments, etc.