AICPA Tax Insider (December 16, 2021): Senate Finance Committee releases tax provisions of Build Back Better Act; Build Back Better tax changes are coming … but when? and More!

Senate Finance Committee releases tax provisions of Build Back Better ActThe Senate Finance Committee's text includes changes from the House's version of the bill, including a removal of the House's increase in the SALT deduction cap. Build Back Better tax changes are coming … but when?By Edward Karl, CPA, CGMAThe Build Back Better Act contains … Continue reading AICPA Tax Insider (December 16, 2021): Senate Finance Committee releases tax provisions of Build Back Better Act; Build Back Better tax changes are coming … but when? and More!

Jason Freeman (Jason Freeman LLP): Releases and Family Settlement Agreements in Trust & Estate Litigation (December 15, 2021)

Jason Freeman, of (Jason Freeman LLP), has made available for download his article, "Releases and Family Settlement Agreements in Trust & Estate Litigation," published in JDSUPRA. The abstract is as follows: A settlement agreement can be beneficial to all parties – it may help reduce litigation costs, facilitate dispute resolution, or guide the parties to … Continue reading Jason Freeman (Jason Freeman LLP): Releases and Family Settlement Agreements in Trust & Estate Litigation (December 15, 2021)

LexBlog – Legal Project Management – What is it and why should you care? (December 14, 2021)

Susan Raridon Lambreth has published an article in LexBlog, titled "Legal Project Management – What is it and why should you care?" The article begins as follows: Many firms around the world are implementing this approach called “legal project management,” while others know nothing about it.   It has been described as a “must have” by … Continue reading LexBlog – Legal Project Management – What is it and why should you care? (December 14, 2021)

Bloomberg Wealth: These Are the World’s Richest Families (September 17, 2021)

Bloomberg Wealth discusses the world's richest families and their continued increase in wealth. The article begins as follows: Scarcely a day goes by without a stock sale hitting the market: $99 million one day, $146 million the next, almost $294 million last week alone.The discrete offerings, frequently by Goldman Sachs Group Inc., are on behalf of … Continue reading Bloomberg Wealth: These Are the World’s Richest Families (September 17, 2021)

RUBIN ON TAX – FBAR Case Reversed – Nonwillful Filing Penalties Based on Number of Accounts Not Reported (December 14, 2021)

Charles (Chuck) Rubin published an article in the blog RUBIN ON TAX, titled "FBAR Case Reversed - Nonwillful Filing Penalties Based on Number of Accounts Not Reported". The article begins as follows: Back in 2000, I wrote here about a case where a taxpayer did not report multiple foreign accounts on an FBAR. The question for the … Continue reading RUBIN ON TAX – FBAR Case Reversed – Nonwillful Filing Penalties Based on Number of Accounts Not Reported (December 14, 2021)

TaxProfBlog – Johnson: The Wonderful Mark-to-Market Tax (December 2, 2021)

Paul Caron has published an article on the TaxProf Blog, titled “The Wonderful Mark-to-Market Tax”, which discusses how mark-to-market taxation would tax shareholders on the annual gain from publicly traded stock even when those gains have not been reduced to cash. The article begins as follows: Whatever its role in the current U.S. budget decisions, … Continue reading TaxProfBlog – Johnson: The Wonderful Mark-to-Market Tax (December 2, 2021)

Keith Fogg (Procedurally Taxing): Tax Court Filing Update (December 14, 2021)

Keith Fogg, director of the Federal Tax Clinic at Harvard Law School’s Legal Services Center, has made available for download his article “Tax Court Filing Update”, published on the Procedurally Taxing blog. The abstract is as follows: On December 9, 2021, the Tax Court issued a news release focused on the number of petitions filed in 2021 … Continue reading Keith Fogg (Procedurally Taxing): Tax Court Filing Update (December 14, 2021)

Forbes: Tax Court Shows Some Risks of Using Self-Directed IRAs (December 14, 2021)

Forbes has published an article, “Tax Court Shows Some Risks of Using Self-Directed IRAs”, which discusses the complications that may arise from using true self-directed IRAs. The article begins as follows: True self-directed IRAs are becoming more popular among IRA owners. But the rules can be complicated and tricky. Two recent court cases show the … Continue reading Forbes: Tax Court Shows Some Risks of Using Self-Directed IRAs (December 14, 2021)

Charles Hunsinger: Lessons from the Massachusetts Appeals Courts’s Most Recent MUTC Case (December 14, 2021)

Charles Hunsinger of Burns & Levinson LLP, has made available for download his article, “Lessons from the Massachusetts Appeals Court’s Most Recent MUTC Case”, published in JDSUPRA. The article begins as follows: The Massachusetts Uniform Trust Code (MUTC) is still new enough that any higher court decision interpreting it feels like a special day for … Continue reading Charles Hunsinger: Lessons from the Massachusetts Appeals Courts’s Most Recent MUTC Case (December 14, 2021)

BDO USA: Senate Finance Committee Releases Updated Text of Build Back Better Act Tax Measures (December 2021)

BDO USA has published an article, “Senate Finance Committee Releases Updated Text of Build Back Better Act Tax Measures”, published on BDO USA. The abstract is as follows: Senate Finance Committee Chairman Ron Wyden (D – Ore.) on December 11 released an updated text of the tax provisions in the Build Back Better Act (H.R. … Continue reading BDO USA: Senate Finance Committee Releases Updated Text of Build Back Better Act Tax Measures (December 2021)

Texas Fiduciary Litigator: Presentation: Litigating Self-Interested Transactions Involving Fiduciaries (December 13, 2021)

Winstead, in its Texas Fiduciary Litigator Blog, has made available for download its article "Litigating Self-Interested Transactions Involving Fiduciaries," which discusses David Fowler Johnson's paper on stipulations common to litigating self-interested transactions. The article begins as follows: David F. Johnson presented his paper “Litigating Self-Interested Transactions Involving Fiduciaries” to the State Bar of Texas’s Fiduciary Litigation Course … Continue reading Texas Fiduciary Litigator: Presentation: Litigating Self-Interested Transactions Involving Fiduciaries (December 13, 2021)

Robert W. Wood (Wood LLP) : Crypto IRS Reporting Rules Promise Tax Compliance—And Enforcement (December 13, 2021)

Robert W. Wood, of Wood LLP, has made available for download his article, “Crypto IRS Reporting Rules Promise Tax Compliance—And Enforcement,” published in Forbes Magazine. The abstract is as follows: The Infrastructure Investment and Jobs Act (H.R. 3684) put crypto in the crosshairs in a comprehensive way. The crypto community was outraged when the measures … Continue reading Robert W. Wood (Wood LLP) : Crypto IRS Reporting Rules Promise Tax Compliance—And Enforcement (December 13, 2021)

TaxProfBlog – The Tax Lawyer Publishes New Issue (December 14, 2021)

Paul Caron has published an article on the TaxProf Blog, titled "The Tax Lawyer Publishes New Issue," which discusses the Vol. 75, No. 1 new issues of the Tax Lawyer. The article begins as follows: The Tax Lawyer has published Vol. 75, No. 1 (Fall 2021):Karen C. Burke (Florida), Sorting Out Partner Payments, 75 Tax Law. 1 (2021)Amandeep … Continue reading TaxProfBlog – The Tax Lawyer Publishes New Issue (December 14, 2021)

Procedurally Taxing: When Is a Late Return Not Really “Late”?? – Part 1 (December 3, 2021)

Bob Probasco, Senior Lecturer and Director Tax Dispute Resolution Clinic, has made available for download his article, “When Is a Late Return Not Really “Late”?? – Part 1” published on the Procedurally Taxing blog. The article begins as follows: The IRS released a legal memo recently on an issue I had never thought of before.  Would a … Continue reading Procedurally Taxing: When Is a Late Return Not Really “Late”?? – Part 1 (December 3, 2021)

Robins Kaplan LLP: Quiet Trusts: The Benefits of Privacy in Estate Planning (Winter 2021)

Myleah Wiedmann and Tim Billion of Robins Kaplan LLP have made available for download their article, "Quiet Trusts: The Benefits of Privacy in Estate Planning", The article begins as follows: In the wake of the “Pandora Papers,” the use of secret trusts has come under fire. The media has depicted secrecy in trust administration as … Continue reading Robins Kaplan LLP: Quiet Trusts: The Benefits of Privacy in Estate Planning (Winter 2021)

TaxProf Blog – Paul Caron: Top Wealth in America: And Implications for Taxing the Rich (October 22, 2021)

Bryan Camp has published an article on the TaxProf Blog, titled “Top Wealth in America: And Implications for Taxing the Rich”, which discusses Matthew Smith, Owen Zidar, and Eric Zwick's article. The article begins as follows: This paper uses administrative tax data to estimate top wealth in the United States. We assemble new data that links … Continue reading TaxProf Blog – Paul Caron: Top Wealth in America: And Implications for Taxing the Rich (October 22, 2021)

TaxProfBlog – Lesson From The Tax Court : Taxpayer ‘Filed’ Return Even Though IRS Could Not Process It (December 6, 2021)

Bryan Camp has published an article on the TaxProf Blog, titled "Lesson From The Tax Court : Taxpayer 'Filed' Return Even Though IRS Could Not Process It," which discusses James Forrest Willetts v. Commissioner. The article begins as follows: Case law gets made when things go wrong.  When things go right, a taxpayer will file … Continue reading TaxProfBlog – Lesson From The Tax Court : Taxpayer ‘Filed’ Return Even Though IRS Could Not Process It (December 6, 2021)

BDO USA: FIRPTA Rules Impact Investments in U.S. Real Property (December 2021)

BDO USA has published an article, “FIRPTA Rules Impact Investments in U.S. Real Property”, published on BDO USA. The abstract is as follows: The Foreign Investment in Real Property Tax Act (FIRPTA) was enacted in 1980 to provide an exception to the capital gain sourcing rules with respect to foreign corporations’ or nonresident aliens’ gains … Continue reading BDO USA: FIRPTA Rules Impact Investments in U.S. Real Property (December 2021)

Forbes: 7 Tax-Planning Moves To Make By End Of 2021 (December 1, 2021)

Forbes has published an article, “7 Tax-Planning Moves To Make By End Of 2021,” which discusses the proactive steps business owners and individuals can make to reduce the impact of the end-of-year taxes. The article begins as follows: Wow! 2021 has been yet another wild and crazy year. Many people have seen their incomes jump … Continue reading Forbes: 7 Tax-Planning Moves To Make By End Of 2021 (December 1, 2021)

Forbes: How IRS Taxes Lawsuit Settlements (November 29, 2021)

Forbes has published an article, “How IRS Taxes Lawsuit Settlements”, which discusses tax planning in preparation for a settlement, especially as litigation settlement taxes have increased since 2018 . The article begins as follows: Many plaintiffs win or settle a lawsuit only to be surprised that they have to pay taxes. Some don't realize it until … Continue reading Forbes: How IRS Taxes Lawsuit Settlements (November 29, 2021)