Est. of Agnes Skeba v. US, 2019-2 USTC ¶60,717 (Oct. 3, 2019): De Novo Std Applied to Estate's Reasonable Cause Claim

In Est. of Agnes Skeba v. US, 2019-2 USTC ¶60,717 (Oct. 3, 2019), the US District Court for the District of New Jersey applied a de novo standard of review to determine whether an estate demonstrated reasonable cause and not willful neglect in failing to timely file its federal estate tax return. Before the deadline for … Continue reading Est. of Agnes Skeba v. US, 2019-2 USTC ¶60,717 (Oct. 3, 2019): De Novo Std Applied to Estate's Reasonable Cause Claim

Ron Aucutt's Top Ten Estate Planning and Estate Tax Developments of 2019

Bessemer Trust has released Ron Aucutt's Top Ten Estate Planning and Estate Tax Developments of 2019. Bessemer's announcement begins as follows: In an annual tradition, Ron Aucutt has identified what he views as the top ten estate planning and estate tax developments of 2019 and has provided context and analysis for each item.This analysis addresses … Continue reading Ron Aucutt's Top Ten Estate Planning and Estate Tax Developments of 2019

US v. Kohls, 2020-1 U.S.T.C. ¶60,719, (Jan. 2, 2020), executor personally liable for unpaid estate tax

In US v. Kohls, 2020-1 U.S.T.C. ¶60,719, (Jan. 2, 2020), the US District Court for the Southern District of Ohio held that an executor of a decedent’s estate was personally liable for unpaid estate tax after he distributed property to himself and other beneficiaries before paying the estate tax.  The IRS notified the estate that … Continue reading US v. Kohls, 2020-1 U.S.T.C. ¶60,719, (Jan. 2, 2020), executor personally liable for unpaid estate tax

IPB Tax, Trusts & Estates Newsletter: October 2019 Edition

Ivins Phillips Barker published its October installment of the Tax, Trusts, and Estates newsletter. The following articles are included within this edition: Recent Developments: Income Taxes and Real Property Interests - IRS guidance on the Section 199A 20% pass-through deduction and two New York cases upholding double taxation for individuals domiciled outside of NY offer opportunities … Continue reading IPB Tax, Trusts & Estates Newsletter: October 2019 Edition

Taxing Billionaires: Estate Taxes and the Geographical Location of the Ultra-Wealthy by Enrico Moretti and Daniel J. Wilson (Oct. 21, 2019)

Enrico Moretti and Daniel Wilson have made their paper, Taxing Billionaires: Estate Taxes and the Geographical Location of the Ultra-Wealthy, available for download. This article was published as a working paper for the National Bureau of Economic Research. The abstract of this article, available on SSRN, reads as follows: We study the effect of state-level … Continue reading Taxing Billionaires: Estate Taxes and the Geographical Location of the Ultra-Wealthy by Enrico Moretti and Daniel J. Wilson (Oct. 21, 2019)

2018 Developments in Connecticut Estate and Probate Law by Jeffrey A. Cooper and John R. Ivimey (Oct. 15, 2019)

Jeffrey Cooper and John Ivimey have made their paper, 2018 Developments in Connecticut Estate and Probate Law, available for download. This article was published as a part of the Harvard Journal of Law and Technology, Forthcoming. The abstract of this article, available on SSRN, reads as follows: This Article provides a summary of recent developments … Continue reading 2018 Developments in Connecticut Estate and Probate Law by Jeffrey A. Cooper and John R. Ivimey (Oct. 15, 2019)

Estate of Skeba (DC NJ Oct. 3, 2019): Estate Entitled to Abatement of Failure to File Penalty for Late Estate Tax Return

The US District Court for the District of New Jersey held that an estate was entitled to a refund of failure to file penalties for filing an estate tax return late. The court reasoned that IRS refusal to abate the penalties was arbitrary and capricious. See full opinion by clicking Estate of Skeba (DC NJ … Continue reading Estate of Skeba (DC NJ Oct. 3, 2019): Estate Entitled to Abatement of Failure to File Penalty for Late Estate Tax Return