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)

Forbes: Why The Biden Administration Is Motivating Wealthy Families To Address Their Estate Plans (November 9, 2021)

Forbes has published an article, “Why The Biden Administration Is Motivating Wealthy Families To Address Their Estate Plans”, which discusses upcoming changes to estate tax law by the Biden administration. The article begins as follows:  Across the country one of the hardest appointments for the wealthy to get this past summer wasn’t reservations at a … Continue reading Forbes: Why The Biden Administration Is Motivating Wealthy Families To Address Their Estate Plans (November 9, 2021)

House Democrats Release Amended Tax Provisions Build Back Better Act (Nov. 3, 2021)

The House Democrats released a "managers amendment" in both amended legislative language and a section by section summary of amended Build Better Act Provisions. Click here to see the amended legislative language. Click here to see the section by section summary of the amended legislation. The tax provisions begin on page 159 of the section … Continue reading House Democrats Release Amended Tax Provisions Build Back Better Act (Nov. 3, 2021)

BDO USA: White House Announces Reworked Infrastructure Framework (October 2021)

BDO USA has published an article, “White House Announces Reworked Infrastructure Framework”, published on BDO USA. The abstract is as follows: After months of negotiations, the White House has announced a framework for President Biden’s Build Back Better agenda, a $1.75 trillion package of social infrastructure measures paid for by tax increases. The measures are in addition … Continue reading BDO USA: White House Announces Reworked Infrastructure Framework (October 2021)

Forbes: Worried About Taxes Going Up? 9 Ways To Reduce Tax (October 26, 2021)

Forbes has published an article, “Worried About Taxes Going Up? 9 Ways To Reduce Tax”, which discusses nine methods to reduce your tax bill. The article begins as follows:  While there likely isn't a magic bullet to wipe out your tax bill, there are ways to layer tax-efficiency into your plan. If you're concerned about … Continue reading Forbes: Worried About Taxes Going Up? 9 Ways To Reduce Tax (October 26, 2021)

J.M. Coppieters: Trust Planning and the Washington State Capital Gains Tax (October 15, 2021)

J.M. Coppieters, of Scarff Law Firm PLLC, has made available for download his article, Trust Planning and the Washington State Capital Gains Tax, published in Seattle University Law Review SUpra. The abstract is as follows: On April 25, 2021, the Washington State Legislature enacted a new state capital gains tax. Before now, Washington state has … Continue reading J.M. Coppieters: Trust Planning and the Washington State Capital Gains Tax (October 15, 2021)

Matthew Smith, Owen Zidar, and Eric Zwick: Top Wealth in America: New Estimates and Implications for Taxing the Rich (October 18, 2021)

Matthew Smith of U.S. Department of the Treasury, Office of Tax Analysis (OTA), Owen Zidar of Princeton University, and Eric Zwick of University of Chicago - Finance, have made available for download their article, “Top Wealth in America: New Estimates and Implications for Taxing the Rich”, published in the University of Chicago, Becker Friedman Institute … Continue reading Matthew Smith, Owen Zidar, and Eric Zwick: Top Wealth in America: New Estimates and Implications for Taxing the Rich (October 18, 2021)

Forbes: New Tax Rule #1: Say Good-Bye to Tax Deferral (October 1, 2021)

Forbes has published an article, “New Tax Rule #1: Say Good-Bye to Tax Deferral”, which discusses changing circumstances that make tax deferral less attractive. The article begins as follows:  It’s hard to abandon longstanding rules of thumb. But sometimes circumstances change, and it’s necessary to change our thinking if we want to maximize after-tax wealth.Perhaps … Continue reading Forbes: New Tax Rule #1: Say Good-Bye to Tax Deferral (October 1, 2021)

Katherine Jeffrey (Davis Wright Tremaine LLP) : Proposed Federal Tax Law Changes Affecting Estate Planning (October 21, 2021)

Katherine Jeffrey, of Davis Wright Tremaine LLP, has made available for download her article, "Proposed Federal Tax Law Changes Affecting Estate Planning," published in JDSUPRA. The abstract is as follows: The House Ways and Means Committee recently released its plan to pay for President Biden's proposed Build Back Better Act. Many of the changes to … Continue reading Katherine Jeffrey (Davis Wright Tremaine LLP) : Proposed Federal Tax Law Changes Affecting Estate Planning (October 21, 2021)

Accounting Today: Tax hikes turn estate and wealth advisors into ‘triage center’ for the rich (October 12, 2021)

Accounting Today has published an article, titled “Tax hikes turn estate and wealth advisors into ‘triage center’ for the rich”. The article begins as follows: Ever since Democrats unveiled their proposal to raise taxes on the wealthy, David Handler’s phone has been blowing up with pleas for help. But the trusts and estates lawyer at … Continue reading Accounting Today: Tax hikes turn estate and wealth advisors into ‘triage center’ for the rich (October 12, 2021)

Bloomberg: The Hidden Ways the Ultrarich Pass Wealth to Their Heirs Tax-Free (October 21, 2021)

Bloomberg Businessweek outlines an inside look at how Nike founder Phil Knight is giving a fortune to his family while avoiding billions in U.S. taxes. The article begins as follows: Sitting in the bleachers by the University of Oregon’s running track, Nike Inc. founder Philip Knight offered the sort of lofty promise many other super … Continue reading Bloomberg: The Hidden Ways the Ultrarich Pass Wealth to Their Heirs Tax-Free (October 21, 2021)

Giarmarco, Mullins & Horton, P.C.: Potential Changes to Gift and Estate Tax Laws in 2022 (October 2021)

Giarmarco, Mullins & Horton, P.C. has made available for download their article, "Potential Changes to Gift and Estate Tax Laws in 2022". The article begins as follows: Under a new administration, proposed tax legislation has been introduced that could significantly impact estate tax planning. While it is not clear if, or when, any of these … Continue reading Giarmarco, Mullins & Horton, P.C.: Potential Changes to Gift and Estate Tax Laws in 2022 (October 2021)

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)

NY Times: The City of London Is Hiding the World’s Stolen Money (October 11, 2021)

Nicholas Shaxson in his New York Times article, discusses the Pandora Papers and how it has exposed Britain’s role in money laundering. His article, “The City of London Is Hiding the World's Stolen Money”, begins as follows: In 1969, two years after the Cayman Islands, a British territory, passed its first law to allow secretive offshore trusts, … Continue reading NY Times: The City of London Is Hiding the World’s Stolen Money (October 11, 2021)