TaxProfBlog: Lessons From The Tax Court: An Object Lesson For Tax Professionals (November 14, 2022)

Bryan Camp has published an article on the TaxProf Blog, titled “Lessons From The Tax Court: An Object Lesson For Tax Professionals,'' which discusses the tax court decision in Betty Amos V. Commissioner, T.C. Memo. 2022-109 (Nov. 10, 2022) (Judge Urda) focusing on the proper period of time tax records should be kept for. The … Continue reading TaxProfBlog: Lessons From The Tax Court: An Object Lesson For Tax Professionals (November 14, 2022)

Martin Shenkamn: How To Plan Now For The Higher 2023 Gift, Estate and GST Exemption (November 19, 2022)

Martin Shenkman, of Forbes, has published an article, “How To Plan Now For The Higher 2023 Gift, Estate, and GST Exemption,” published in Forbes. The article begins as follows: The gift, estate and generation skipping transfer (“GST”) tax exemption will increase substantially in 2023. What does that mean for your estate planning? […] The current … Continue reading Martin Shenkamn: How To Plan Now For The Higher 2023 Gift, Estate and GST Exemption (November 19, 2022)

TIME: Signs Are Pointing to a Slowdown in the Housing Market—At Last (May 19, 2022)

Alana Semuels, of TIME, has made available for download her article "Signs Are Pointing to a Slowdown in the Housing Market—At Last", published on TIME. The article begins as follows: Just about everyone agrees that the reason home prices have shot up 34% in the last two years is that there is a lot of … Continue reading TIME: Signs Are Pointing to a Slowdown in the Housing Market—At Last (May 19, 2022)

John Bunge: IRS Proposes Regulations Affecting Estate and Gift Taxes (April 29, 2022) 

John Bunge, of Waller Lansden Dortch & Davis, LLP, has made available for download his article, “IRS Proposes Regulations Affecting Estate and Gift Taxes”, published in JDSUPRA. The abstract is as follows: New regulations proposed by the IRS seek to address the basic exclusion amount for estate and gift taxes which was doubled in 2017 … Continue reading John Bunge: IRS Proposes Regulations Affecting Estate and Gift Taxes (April 29, 2022) 

Sacha Dray, Camille Landais, & Stefanie Stantcheva: Wealth and Property Taxation in the United States (April 19, 2022)

Sacha Dray, Camille Landais, and Stefanie Stantcheva have made available for download their article, "Wealth and Property Taxation in the United States". The abstract is as follows: We study the history and geography of wealth accumulation in the US, using newly collected historical property tax records since the early 1800s. The property tax in the … Continue reading Sacha Dray, Camille Landais, & Stefanie Stantcheva: Wealth and Property Taxation in the United States (April 19, 2022)

Louis Vlahos: Attention Congress: Focus On the Estate Tax Regime; Leave the Income Tax Alone (April 8, 2022)

Louis Vlahos, of Rivkin Radler LLP, has made available for download his article, “Attention Congress: Focus On the Estate Tax Regime; Leave the Income Tax Alone”, published in JDSUPRA. The abstract is as follows: The White House last week released the President’s Budget for the Fiscal Year 2023.[ii] The Budget is ambitious, but its “investments,” we … Continue reading Louis Vlahos: Attention Congress: Focus On the Estate Tax Regime; Leave the Income Tax Alone (April 8, 2022)

Jeremy Bearer-Friend and Vanessa Williamson: The Common Sense of a Wealth Tax: Thomas Paine & Taxation as Freedom from Aristocracy (March 14, 2022)

Jeremy Bearer-Friend and Vanessa Williamson, of George Washington University Law School and the Brookings Institution-Governance Studies, respectively, have made available for download their article, “The Common Sense of a Wealth Tax: Thomas Paine & Taxation as Freedom from Aristocracy”, published in the 26 Florida Tax Review, forthcoming. The abstract is as follows: Thomas Paine’s writing helped … Continue reading Jeremy Bearer-Friend and Vanessa Williamson: The Common Sense of a Wealth Tax: Thomas Paine & Taxation as Freedom from Aristocracy (March 14, 2022)

UBS: 2022 tax & financial planning guide (February 28, 2022)

UBS has made available for download their report, “2022 planning guide”, which provides a in-depth overview of income tax, retirement, and estate planning ideas for this year. The report begins as follows: Early last year, just after President Biden was sworn into the Oval office and the Democrats narrowly secured the majority in the Senate, … Continue reading UBS: 2022 tax & financial planning guide (February 28, 2022)

Greenberg Traurig LLP: IRS Announces Revisions to the Application Form for Voluntary Disclosures with New Provisions for Cryptocurrency, Employment Tax, and Estate, Gift and Generation-Skipping Transfer Tax (February 17, 2022)

Greenberg Traurig LLP has made available for download their article, "Greenberg Traurig LLP: IRS Announces Revisions to the Application Form for Voluntary Disclosures with New Provisions for Cryptocurrency, Employment Tax, and Estate, Gift and Generation-Skipping Transfer Tax", published in Greenberg Traurig Tax Legacy Advisors. The article begins as follows: On Feb. 15, 2022, the IRS … Continue reading Greenberg Traurig LLP: IRS Announces Revisions to the Application Form for Voluntary Disclosures with New Provisions for Cryptocurrency, Employment Tax, and Estate, Gift and Generation-Skipping Transfer Tax (February 17, 2022)

TaxProfBlog: Tax-Free Inheritances Fuel America’s New $73 Trillion Gilded Age (February 3, 2022)

Paul Caron has published an article on the TaxProf Blog, titled “Tax-Free Inheritances Fuel America’s New $73 Trillion Gilded Age”, which discusses how the top 1.5% of households form the vast majority of U.S. transferred wealth. The article begins as follows: Almost half of all U.S. wealth transferred over the next quarter century will come … Continue reading TaxProfBlog: Tax-Free Inheritances Fuel America’s New $73 Trillion Gilded Age (February 3, 2022)

Kitces: Maximizing The Step-Up In Basis By Gifting Assets Between Spouses (February 2, 2022)

Kitces has made available for download their article, “Maximizing The Step-Up In Basis By Gifting Assets Between Spouses”, published on Kitces. The Executive Summary begins as follows: While President Joe Biden’s recently proposed “Build Back Better” brought the possibility of a reduced estate tax exemption for 2022, insufficient support for the bill precluded the reduction, … Continue reading Kitces: Maximizing The Step-Up In Basis By Gifting Assets Between Spouses (February 2, 2022)

Kristin N. Matsko, David Riedel, & Kathryn S. Windsor (Adler Pollock & Sheehan P.C.) : Don’t Count Out the Bypass Trust (February 1, 2022)

Kristin N. Matsko, David Riedel, and Kathryn S. Windsor, of Adler Pollock and Sheehan P.C., have made available for download their article, "Don't Count Out the Bypass Trust", published in JDSUPRA. The abstract is as follows: To paraphrase Mark Twain, the reported demise of the bypass trust may be greatly exaggerated. In fact, this estate … Continue reading Kristin N. Matsko, David Riedel, & Kathryn S. Windsor (Adler Pollock & Sheehan P.C.) : Don’t Count Out the Bypass Trust (February 1, 2022)

KPMG: Sixth Circuit: IRS summonses issued to banks of taxpayer’s wife and taxpayer’s lawyers (January 7, 2022)

KPMG reports that the Sixth Circuit affirmed the judgment of the district court and held that the summonses were issued in aid of the IRS’s collection efforts and that the petitioners were not entitled to notice in Polselli v. IRS, No. 21-1010 (6th Cir. January 7, 2022). It’s summary begins as follows: The U.S. Court of Appeals … Continue reading KPMG: Sixth Circuit: IRS summonses issued to banks of taxpayer’s wife and taxpayer’s lawyers (January 7, 2022)

NY Times: A Lavish Tax Dodge for the Ultrawealthy Is Easily Multiplied (December 28, 2021)

Jesse Drucker and Maureen Farrell, in their New York Times article, discusses the tax breaks, originally aimed at small businesses, that are utilized by the ultrawealthy. Their article, “A Lavish Tax Dodge for the Ultrawealthy Is Easily Multiplied”, begins as follows: This is the story of the incredible cloning tax break.In 2004, David Baszucki, fresh off a stint … Continue reading NY Times: A Lavish Tax Dodge for the Ultrawealthy Is Easily Multiplied (December 28, 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)

ProPublica: These Real Estate and Oil Tycoons Avoided Paying Taxes for Years (December 7, 2021)

Jeff Ernsthausen, Paul Kiel, and Jesse Eisinger have published their article, “These Real Estate and Oil Tycoons Avoided Paying Taxes for Years.” The abstract is as follows: Here’s a tale of two Stephen Rosses.Real life Stephen Ross, who founded Related Companies, a global firm best known for developing the Time Warner Center and Hudson Yards in Manhattan, was a … Continue reading ProPublica: These Real Estate and Oil Tycoons Avoided Paying Taxes for Years (December 7, 2021)

McDermott, Will & Emery: Tax Reform: What’s In and What’s Out (For Now) (November 22, 2021)

Max P. Biedermann and Carlyn S. McCaffrey, of McDermott, Will & Emery, have made available for download their article “Tax Reform: What's In and What's Out (For Now)”. The abstract is as follows: After more than two months of negotiations in the US Congress, a slimmed-down version of the “Build Back Better Act” narrowly passed … Continue reading McDermott, Will & Emery: Tax Reform: What’s In and What’s Out (For Now) (November 22, 2021)

RUBIN ON TAX : Increases in Estate and Gift Tax Exemption Amounts Announced by IRS (November 18, 2021)

Charles Rubin, creator of RUBIN ON TAX, has made available for download his article, "Increases in Estate and Gift Tax Exemption Amounts Announced by IRS" posted in the blog RUBIN ON TAX. The abstract is as follows: We have gone from scrambling to deal with a decrease in the unified credit under proposed legislation, to … Continue reading RUBIN ON TAX : Increases in Estate and Gift Tax Exemption Amounts Announced by IRS (November 18, 2021)

TaxNotes – Edward A. Zelinsky, The Case for Limiting the Estate and Gift Tax Charitable Deductions (October 29, 2021)

Edward A. Zelinsky has published an article on TaxNotes, titled "The Case for Limiting the Estate and Gift Tax Charitable Deductions". The article begins as follows: If enacted into law, the legislation recently approved by the House Ways and Means Committee1 would make important changes to the federal estate and gift taxes. However, that legislation omits one compelling … Continue reading TaxNotes – Edward A. Zelinsky, The Case for Limiting the Estate and Gift Tax Charitable Deductions (October 29, 2021)

TaxNotes: Fifth Circuit Affirms Couple’s Liability for Gift Taxes (November 3, 2021)

Tax Notes has published an article on its website, titled “Fifth Circuit Affirms Couple’s Liability for Gift Taxes.” The article begins as follows: Mary P. Nelson and James C. Nelson appeal from the Tax Court's denial of their petition for a redetermination of a deficiency of gift tax issued by the Commissioner of Internal Revenue … Continue reading TaxNotes: Fifth Circuit Affirms Couple’s Liability for Gift Taxes (November 3, 2021)