NY Times (August 27, 2021): How to Make Your Marriage More Financially Equal

Ron Lieber, in his New York Times article, discusses how to equalize financial decision-making in a marriage. His article, “How to Make Your Marriage More Financially Equal”, begins as follows: A year and a half of pandemic living has revealed — or reminded us of — some persistent patterns around money, gender, marriage and families. And they … Continue reading NY Times (August 27, 2021): How to Make Your Marriage More Financially Equal

BDO USA: Unlocking Liquidity: Selling Your Business to an ESOP (August 2021)

BDO USA has published an article, “Unlocking Liquidity: Selling Your Business to an ESOP”, published on BDO USA. The abstract is as follows: An employee stock ownership plan – better known as an ESOP - can be an attractive and tax efficient alternative for owners of private companies that are seeking liquidity but do not … Continue reading BDO USA: Unlocking Liquidity: Selling Your Business to an ESOP (August 2021)

IBP Tax: House Ways & Means Committee Takes Aim at Exemption Amounts, Valuation Discounts & Grantor Trusts (September 17, 2021)

Ivins Philips Barker has made available for download their article, "House Ways & Means Committee Takes Aim at Exemption Amounts, Valuation Discounts & Grantor Trusts", which discusses important updates from the House Ways & Means Committee. The abstract is as follows: The following are the most important proposals affecting high-net-worth individuals: For decedents dying and … Continue reading IBP Tax: House Ways & Means Committee Takes Aim at Exemption Amounts, Valuation Discounts & Grantor Trusts (September 17, 2021)

BDO USA: How to Realize Tax Savings When Tax Rates Increase (August 2021)

BDO USA has published an article, “How to Realize Tax Savings When Tax Rates Increase”, published on BDO USA. The abstract is as follows: The Treasury Department’s Green Book outlines proposals supported by the Biden Administration that would increase federal tax rates for corporations and high-income individuals, generally effective for taxable years beginning after December 31, 2021. … Continue reading BDO USA: How to Realize Tax Savings When Tax Rates Increase (August 2021)

BDO USA: The self-employment tax exemption may be ending for some limited partners. Will you be impacted? (August 2021)

BDO USA has published an article, “The self-employment tax exemption may be ending for some limited partners. Will you be impacted?”, published on BDO USA. The abstract is as follows: The recently published Green Book contains details on changes proposed by the Biden Administration that aim to rationalize the net investment income tax (NIIT) and the self-employment … Continue reading BDO USA: The self-employment tax exemption may be ending for some limited partners. Will you be impacted? (August 2021)

Deloitte: Wyden unveils discussion draft of international tax overhaul (August 25, 2021)

Deloitte has published an article, “Wyden unveils discussion draft of international tax overhaul,” which points out that there are still some unanswered topics in the discussion draft. The article begins as follows: Senate Finance Committee Chairman Ron Wyden, D-Ore., along with Senate Democratic taxwriters Sherrod Brown of Ohio and Mark Warner of Virginia on August … Continue reading Deloitte: Wyden unveils discussion draft of international tax overhaul (August 25, 2021)

James Edward Maule, MauledAgain (September 13, 2021): Here’s an Idea: Limit the Life Insurance Proceeds Exclusion

James Edward Maule’s MauledAgain tax blog entry discusses the tax benefits of limiting the life insurance proceeds exclusion. His article, “Here's an Idea: Limit the Life Insurance Proceeds Exclusion” includes the following commentary: An idea popped into my head, and nothing I was doing at the time accounts for why it did. My thought was simply, … Continue reading James Edward Maule, MauledAgain (September 13, 2021): Here’s an Idea: Limit the Life Insurance Proceeds Exclusion

Texas Fiduciary Litigator: A Limitation-Of-Liability Clause May or May Not Be Enforceable For Breach Of Fiduciary Duty Claims (June 29, 2021)

David Fowler Johnson, in his Texas Fiduciary Litigator Blog, discusses limitation-of-liability clauses in numerous different cases. The article beings as follows: Parties often add limitation-of-liability clauses to their agreements. These types of clauses can purport to limit a party’s claims or damages or both.  Damage-limitation clauses can take many different forms. For example, such a clause … Continue reading Texas Fiduciary Litigator: A Limitation-Of-Liability Clause May or May Not Be Enforceable For Breach Of Fiduciary Duty Claims (June 29, 2021)

KPMG: IRS Priority Guidance Plan 2021-2022—exempt organization projects (September 10, 2021)

KPMG has made available for download their article, “IRS Priority Guidance Plan 2021-2022—exempt organization projects,” which discusses projects that directly affect exempt organizations and tax-exempt bonds. The abstract is as follows: The U.S. Treasury Department and IRS on September 9, 2021, released the 2021-2022 Priority Guidance Plan.The Priority Guidance Plan (PGP) is used each year … Continue reading KPMG: IRS Priority Guidance Plan 2021-2022—exempt organization projects (September 10, 2021)

KPMG: JCT descriptions, estimated budgetary effects of Ways and Means proposals (September 11, 2021)

KPMG has made available for download their article, “JCT descriptions, estimated budgetary effects of Ways and Means proposals,” which includes documents the Joint Committee on Taxation (JCT) has released. The abstract is as follows: In connection with the release of additional legislative text last night by House Ways and Means Committee Chairman Richard E. Neal … Continue reading KPMG: JCT descriptions, estimated budgetary effects of Ways and Means proposals (September 11, 2021)

TaxProf Blog – BigLaw Associate Hiring Surges 24% As Legal Business Boom (August 30, 2021)

Paul Caron has published an article on the TaxProf Blog, titled “BigLaw Associate Hiring Surges 24% As Legal Business Boom”, which discusses the recent hiring practices adopted by Big Law firms as they struggled to find associates after pandemic shutdowns. The article begins as follows: Conservative entry-level hiring practices that bolstered Big Law firms after the … Continue reading TaxProf Blog – BigLaw Associate Hiring Surges 24% As Legal Business Boom (August 30, 2021)

New York Times: How Accounting Giants Craft Favorable Tax Rules From Inside Government. (September 19, 2021)

Jesse Drucker and Danny Hakim, of the New York Times, discuss how accounting firms help advise companies to exploit tax regulations that their tax lawyers helped write while holding government positions. Their article begins as follows: For six years, Audrey Ellis and Adam Feuerstein worked together at PwC, the giant accounting firm, helping the world’s … Continue reading New York Times: How Accounting Giants Craft Favorable Tax Rules From Inside Government. (September 19, 2021)

Vincent Ooi: Where There’s a Will, There’s a Way: A Guide to Setting Up a Will and Managing a Loved One’s Estate (Foreword) (September 1, 2021)

Vincent Ooi, of Singapore Management University - School of Law; Singapore Management University - Centre for AI & Data Governance, has made available for download his article, “Where There's a Will, There's a Way: A Guide to Setting Up a Will and Managing a Loved One's Estate (Foreword)”, forthcoming. The abstract is as follows: For … Continue reading Vincent Ooi: Where There’s a Will, There’s a Way: A Guide to Setting Up a Will and Managing a Loved One’s Estate (Foreword) (September 1, 2021)

Eric A. Kades: Anti Trusts, Reforming an Excessively Flexible Legal Tool (August 9, 2021)

Eric A. Kades, of William & Mary Law School, has made available for download his article, “Anti Trusts, Reforming an Excessively Flexible Legal Tool". The abstract is as follows: Trusts are one of the most flexible legal tools in lawyers’ arsenals, deployed for socially desirable used ranging from supporting orphans to structuring complex investments. Trusts, … Continue reading Eric A. Kades: Anti Trusts, Reforming an Excessively Flexible Legal Tool (August 9, 2021)

Beckett Cantley and Geoffrey Dietrich: The U.S. Supreme Court in Kaestner: Deciphering the Constitutionally Required Minimum Contacts Necessary for State Taxation of Trust Income (June 15, 2021)

Beckett Cantley and Geoffrey Dietrich, of Northeastern University and Cantley Dietrich LLC, respectively, have made available for download their article, “The U.S. Supreme Court in Kaestner: Deciphering the Constitutionally Required Minimum Contacts Necessary for State Taxation of Trust Income”, published in the Virginia Law & Business Review, volume 15. The abstract is as follows: As … Continue reading Beckett Cantley and Geoffrey Dietrich: The U.S. Supreme Court in Kaestner: Deciphering the Constitutionally Required Minimum Contacts Necessary for State Taxation of Trust Income (June 15, 2021)

AICPA Tax Insider (September 16, 2021): Ways and Means releases list of tax provisions for budget bill; Guidance issued on 2021 qualified sick and family leave wage reporting; and More!

Ways and Means releases list of tax provisions for budget billThe proposal would raise tax rates for corporations and individuals and make many other changes to the Internal Revenue Code. Guidance issued on 2021 qualified sick and family leave wage reportingInformation reporting on Form W-2 or a separate statement allows self-employed taxpayers to claim qualified … Continue reading AICPA Tax Insider (September 16, 2021): Ways and Means releases list of tax provisions for budget bill; Guidance issued on 2021 qualified sick and family leave wage reporting; and More!

House Ways & Means Markup and Summary of Build Back Better Act (September 14, 2021)

The House Ways and Means Committee has relased its markup and section by section summary of the Build Back Better Act. The press release and links to summary and markup are below. --------------------------------------------------- Sep 7, 2021  Press Release  SPRINGFIELD, MA—Today, House Ways and Means Committee Chairman Richard E. Neal (D-MA) announced that this week the Committee … Continue reading House Ways & Means Markup and Summary of Build Back Better Act (September 14, 2021)

The WealthCounsel: Current Developments in Estate Planning and Business Law (September 2021)

Taxpayers Granted Extension to Elect out of Automatic Allocation of GST Exemption I.R.S. Priv. Ltr. Rul. 2021-33-007 (Aug. 20, 2021) Takeaways: Although the IRS granted the taxpayers an extension to elect out of the automatic allocation of the GST exemption, the couple may not be as gracious to their attorney or accountant, who could be liable … Continue reading The WealthCounsel: Current Developments in Estate Planning and Business Law (September 2021)

Bloomberg Tax: Your Tax Pro’s Just Not That Into You: Why You May Get Dropped (August 19, 2021)

Bloomberg Tax outlines the reasons why tax professionals leave clients, as well as ways to avoid those pitfalls as a client. The article begins as follows: “Next year will be different.” It’s a mantra that I’ve heard over and over since the end of a long and stressful tax season—with apologies to those still working on … Continue reading Bloomberg Tax: Your Tax Pro’s Just Not That Into You: Why You May Get Dropped (August 19, 2021)

Forbes: The Complex Trust Is Simply the Criminal Tax Evasion Device Known as The Pure Trust Repackaged (August 18, 2021)

Forbes has published an article, “The Complex Trust Is Simply the Criminal Tax Evasion Device Known as The Pure Trust Repackaged”, which discusses the Complex Trust which scam artists sell under the premise that a buyer will be able to pay less taxes.. The article begins as follows:  The so-called pure trust scheme was a criminal tax … Continue reading Forbes: The Complex Trust Is Simply the Criminal Tax Evasion Device Known as The Pure Trust Repackaged (August 18, 2021)