Steve Akers: ACTEC 2019 Summer Meeting Musings (Including “Income Tax Planning Strategies for the Advisor’s Toolkit”)

Steve R. Akers, Senior Fiduciary Counsel, Bessemer Trust, has made available for download his comments on the ACTEC 2019 Summer Meeting. The summary is as follows: The 2019 ACTEC Summer Meeting was held in Vancouver, British Columbia, on June 26-29, 2019. A summary of observations from the seminars at the meeting is available on the … Continue reading Steve Akers: ACTEC 2019 Summer Meeting Musings (Including “Income Tax Planning Strategies for the Advisor’s Toolkit”)

Supreme Court Petition – Economic Substance Doctrine: Tucker v. Commissioner, Case No. 17-60833

A petition for certiorari was filed in the Tucker v. Commissioner, Case No. 17-60833. According to the Petition, the issue presented is as follows: May the judge-made “economic substance doctrine” be invoked to supplant any tax results that a court deems abusive, even when those results stem from the application of clear, unambiguous, and mechanical … Continue reading Supreme Court Petition – Economic Substance Doctrine: Tucker v. Commissioner, Case No. 17-60833

IRS, Security Summit partners alert tax professionals to the risks posed by phishing emails; education key to protecting taxpayer data

The IRS, states and tax industry partners today warned tax professionals to beware of the continuing threat of phishing emails, which remain the most common tactic used by cybercriminals to steal sensitive data. The reminder came as the IRS and its Security Summit partners urged tax professionals to take time this summer to review their … Continue reading IRS, Security Summit partners alert tax professionals to the risks posed by phishing emails; education key to protecting taxpayer data

Johnson, The Estate Tax Gap, Tax Notes

Calvin H. Johnson, U. Texas Law School, has made available for download his article, The Estate Tax Gap, published at 163 Tax Notes 1479 (July 25, 2019). The Abstract is as follows: The Internal Revenue Code provides that all property transferred by reason of death shall be included in the gross estate whether the property … Continue reading Johnson, The Estate Tax Gap, Tax Notes

Sneddon, Voice, Strength, and No-Contest Clauses, Wisconsin Law Review

Karen J. Sneddon has made available for download her article, Strength, and No-Contest Clauses, published in the Wisconsin Law Review (2019). The Abstract is as follows: The will is a unilateral written disposition of probate property to be effective upon the will-maker’s death. To have any legal effect, however, the will-maker’s family, beneficiaries, and personal … Continue reading Sneddon, Voice, Strength, and No-Contest Clauses, Wisconsin Law Review

Leimberg Report – 2019.07.30: Purpose Trusts, and OPPLI Destroyed

Steve Leimberg's Financial Products Planning Newsletter Lyle Domenitz, Michael Geeraerts & Jim Magner on Wegbreit v. Commissioner: Tax Court Blows Up Purported Offshore Private Placement Life Insurance SchemeSteve Leimberg's Estate Planning NewsletterAlexander A. Bove, Jr. & Melissa Langa: The Continuing Rise of the Purpose TrustSteve Leimberg's Charitable Planning NewsletterSteve Leimberg on Robert A. Oliveri v. Commissioner: … Continue reading Leimberg Report – 2019.07.30: Purpose Trusts, and OPPLI Destroyed

The Taxpayer Advocate Roadmap to the Taxpayer Roadmap

The Taxpayer Advocate Service released in early July a subway style roadmap to the US Tax System (the Roadmap). That roadmap can be seen by clicking this sentence. The Taxpayer Advocate Service has now released a detailed discussion to accompany the Roadmap. That discussion begins as follows: On July 10th, my office released the 2019 Taxpayer … Continue reading The Taxpayer Advocate Roadmap to the Taxpayer Roadmap