Beckett Cantley and Geoffrey Dietrich : How Soon Is Now: Estate of Moore & The Unraveling of Deathbed Estate Planning (July 23, 2021)

Beckett Cantley and Geoffrey Dietrich , of Cantley Dietrich LLC, have made available for download their article, How Soon Is Now: Estate of Moore & The Unraveling of Deathbed Estate Planning, published in Quinnipiac Probate Law Journal. The abstract is as follows: On April 7, 2020 the U.S. Tax Court ruled in Estate of Moore … Continue reading Beckett Cantley and Geoffrey Dietrich : How Soon Is Now: Estate of Moore & The Unraveling of Deathbed Estate Planning (July 23, 2021)

TaxProfBlog – Democrats’ Tax Plan Upends Estate Planning Using Trusts With Life Insurance (October 7, 2021)

Paul Caron has published an article on the TaxProf Blog, titled "Democrats' Tax Plan Upends Estate Planning Using Trusts With Life Insurance", which discusses the effects of the proposed legislation on estate planning. The article begins as follows: The tax plan taking shape in Congress would strangle a strategy widely used by the wealthy to … Continue reading TaxProfBlog – Democrats’ Tax Plan Upends Estate Planning Using Trusts With Life Insurance (October 7, 2021)

ProPublica: More Than Half of America’s 100 Richest People Exploit Special Trusts to Avoid Estate Taxes (September 28, 2021)

Jeff Ernsthausen, James Bandler, Justin Elliott and Patricia Callahan have published their article, “More Than Half of America’s 100 Richest People Exploit Special Trusts to Avoid Estate Taxes.” The abstract is as follows: It’s well known, at least among tax lawyers and accountants for the ultrawealthy: The estate tax can be easily avoided by exploiting a loophole unwittingly … Continue reading ProPublica: More Than Half of America’s 100 Richest People Exploit Special Trusts to Avoid Estate Taxes (September 28, 2021)

Bloomberg Tax, Daily Tax Report (“DTR”): Breaking News – Final IRS Rules Establish Fee for Estate Tax Closing Letters (September 27, 2021)

Bloomberg Tax, Daily Tax Report reports that the IRS established a fee for estate tax closing letters. The summary is as follows: Individuals requesting letters to confirm the IRS has accepted an estate tax return will be required to pay a $67 fee under new final regulations.The rules (TD 9957, RIN 1545-BP75), released Sept. 27, … Continue reading Bloomberg Tax, Daily Tax Report (“DTR”): Breaking News – Final IRS Rules Establish Fee for Estate Tax Closing Letters (September 27, 2021)

Forbes: How Will 10 Types of Retirement Be Taxed? (September 22, 2021)

Forbes has published an article, “How Will 10 Types Of Retirement Income Be Taxed?”, which discusses smart planning with regards to retirement income strategies. The article begins as follows:  When you are planning for a retirement income you can't outlive, you must not forget about taxes. How much you will owe in taxes during your … Continue reading Forbes: How Will 10 Types of Retirement Be Taxed? (September 22, 2021)

David Bussolotta: Proposed Tax Law Changes Impacting Estate and Gift Taxes (September 23, 2021)

David Bussolotta of Pullman & Comley, LLC, has made available for download his article, “Proposed Tax Law Changes Impacting Estate and Gift Taxes,” published on JDSUPRA. The abstract begins as follows: As many people are aware, Congress is considering changes to the federal tax code to support President Biden’s Build Back Better spending plan.  As … Continue reading David Bussolotta: Proposed Tax Law Changes Impacting Estate and Gift Taxes (September 23, 2021)

Forbes: Time to Change Your Estate Plan – Again (September 25, 2021)

Forbes has published an article, “Time To Change Your Estate Plan - Again”, which discusses the Build Back Better Act (BBB) in relation to estate planning techniques. The article begins as follows:  The revenue portion of the Build Back Better Act (BBB) that is moving along dramatically changes the landscape for transfer taxes (i.e. gift … Continue reading Forbes: Time to Change Your Estate Plan – Again (September 25, 2021)

Greenberg Glusker LLP: House Ways and Means Advances Draft Tax Legislation with Dramatic Impact on Estate, Gift and Trust Taxation (September 21, 2021)

Greenberg Glusker LLP has made available for download their article, "House Ways and Means Advances Draft Tax Legislation with Dramatic Impact on Estate, Gift and Trust Taxation,” published on JDSUPRA. The abstract begins as follows: Last week, the House Ways and Means Committee released, and advanced out of committee, draft tax legislation intended to form … Continue reading Greenberg Glusker LLP: House Ways and Means Advances Draft Tax Legislation with Dramatic Impact on Estate, Gift and Trust Taxation (September 21, 2021)

Jacque Albus: $2.1 Trillion Reasons Why You Should Consider Estate Planning NOW (September 21, 2021)

Jacque Albus of Husch Blackwell LLP, has made available for download her article, “$2.1 Trillion Reasons Why You Should Consider Estate Planning NOW,” published on JDSUPRA. The abstract begins as follows: Key pointsOn Wednesday, September 15, The House Ways and Means Committee advanced a proposal for a $2.1 trillion tax increase.The proposal could drastically change the gift … Continue reading Jacque Albus: $2.1 Trillion Reasons Why You Should Consider Estate Planning NOW (September 21, 2021)

Lee Caney: THE TIME TO ACT IS NOW – House Ways and Means Committee Proposes Tax Changes: Significant Provisions Related to Estate Planning Included (September 20, 2021)

Lee Caney of Dechert LLP, has made available for download his article, “THE TIME TO ACT IS NOW – House Ways and Means Committee Proposes Tax Changes: Significant Provisions Related to Estate Planning Included”, published on JDSUPRA. The abstract begins as follows: On September 13, 2021, the House Ways and Means Committee formally released its … Continue reading Lee Caney: THE TIME TO ACT IS NOW – House Ways and Means Committee Proposes Tax Changes: Significant Provisions Related to Estate Planning Included (September 20, 2021)

Lawrence Chane: Estate Planning Provisions of the New Tax Plan (September 20, 2021)

Lawrence Chane of Blank Rome LLP, has made available for download his article, “Estate Planning Provisions of the New Tax Plan,” published on JDSUPRA. The abstract begins as follows: On Monday, September 13, 2021, the House Ways & Means Committee released a draft tax plan which provides the clearest direction to date on how Democrats … Continue reading Lawrence Chane: Estate Planning Provisions of the New Tax Plan (September 20, 2021)

BDO USA: Estate Tax Planning in 2021: Uncertainty Abounds But Options Still Exist (August 2021)

BDO USA has published an article, “Estate Tax Planning in 2021: Uncertainty Abounds But Options Still Exist”, published on BDO USA. The abstract is as follows: Currently, U.S. citizens and non-U.S. citizens domiciled in the U.S. are entitled to an $11.7 million gift and estate tax exemption and are subject to a maximum marginal gift … Continue reading BDO USA: Estate Tax Planning in 2021: Uncertainty Abounds But Options Still Exist (August 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

Forbes: How Ordinary Americans Can Also Buy, Borrow, And Die Without Paying Taxes (September 13, 2021)

Forbes has published an article, "How Ordinary Americans Can Also Buy, Borrow, And Die Without Paying Taxes”, which discusses how strategies that wealthy Americans use to pay less taxes every year that normal Americans can adopt as well. The article begins as follows:  It's commonly said that earning your first million dollars is the hardest, … Continue reading Forbes: How Ordinary Americans Can Also Buy, Borrow, And Die Without Paying Taxes (September 13, 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)

David Riedel: An ILIT Can Be a Wealth Preserver for Your Family (August 17, 2021)

David Riedel of Adler Pollock & Sheehan P.C., has made available for download his article, “An ILIT Can Be a Wealth Preserver for Your Family,” published on JDSUPRA. The abstract begins as follows: Life insurance is often an integral part of an estate plan. By acquiring life insurance coverage, you can provide liquidity when your … Continue reading David Riedel: An ILIT Can Be a Wealth Preserver for Your Family (August 17, 2021)

KPMG: Senate Finance Committee chairman releases discussion draft on reforming taxation of passthrough entities (September 10, 2021)

KPMG has made available for download their article, “Senate Finance Committee chairman releases discussion draft on reforming taxation of passthrough entities,” which discusses drafts of legislation aimed at reforming taxation of passthrough entities . The abstract is as follows: Senate Finance Committee Chairman Ron Wyden (D-OR) this morning released a discussion draft of legislation intended to … Continue reading KPMG: Senate Finance Committee chairman releases discussion draft on reforming taxation of passthrough entities (September 10, 2021)

Taxpayer Advocate Service – NTA Blog: Lifecycle of a Tax Return: Correspondence Audits: Increased Communication Alternatives Are in Progress (September 8, 2021)

The Taxpayer Advocate Service has published an article titled “NTA Blog: Lifecycle of a Tax Return: Correspondence Audits: Increased Communication Alternatives Are in Progress,” which provides information regarding correspondence audits and other communication alternatives. The article begins as follows: In my 2020 Annual Report to Congress (ARC), I discussed the unnecessary delays and difficulties taxpayers encounter reaching an … Continue reading Taxpayer Advocate Service – NTA Blog: Lifecycle of a Tax Return: Correspondence Audits: Increased Communication Alternatives Are in Progress (September 8, 2021)

Bloomberg Law: Rich Americans Already Have a Plan to Escape Biden’s Tax Hikes (September 2, 2021)

Bloomberg Law writes about strategies adopted by wealthy Americans aimed at avoiding the potential enactment of tax increases by President Biden. The article, “Rich Americans Already Have a Plan to Escape Biden's Tax Hikes,” begins as follows: Wealthy Americans are scrambling for places to hide from plans by Democrats to hike their taxes. Many on … Continue reading Bloomberg Law: Rich Americans Already Have a Plan to Escape Biden’s Tax Hikes (September 2, 2021)

Jeffrey Galvin: California Court Reconciles Ownership Presumptions in Probate Disputes (September 7, 2021)

Jeffrey Galvin of Downey Brand LLP, has made available for download his article, “Jeffrey Galvin: California Court Reconciles Ownership Presumptions in Probate Disputes,” published on JDSUPRA. The abstract begins as follows: When Dad bought a house solely in his name, can Stepmother claim a community property interest after Dad has died? Perhaps yes. The answer … Continue reading Jeffrey Galvin: California Court Reconciles Ownership Presumptions in Probate Disputes (September 7, 2021)