Forbes – How To Take Tax Write Offs For Helping Relatives (July 21, 2021)

Bob Carlson has made available his article, How To Take Tax Write Offs For Helping Relatives, published in Forbes. The article begins as follows: It’s very common for family members to become caregivers for other family members or help them financially when medical care or long-term care is needed. It’s also common for these families … Continue reading Forbes – How To Take Tax Write Offs For Helping Relatives (July 21, 2021)

Laura Davison: IRS’s Tax Audits Slid After End Of Program To Focus On Wealthy (July 12, 2021)

Laura Davison has made available for download her article, "IRS's Tax Audits Slid After End Of Program To Focus On Wealthy," published in Financial Advisor The article begins as follows: The Internal Revenue Service has completed fewer audits of wealthy taxpayers since ending a program to focus on top earners, leading to as much as … Continue reading Laura Davison: IRS’s Tax Audits Slid After End Of Program To Focus On Wealthy (July 12, 2021)

Forbes: Buy Passport With Bitcoin, Escape Taxes? (July 14, 2021)

Forbes has published an article, “Buy Passport With Bitcoin, Escape Taxes?”, which discusses legal logistics of buying a passport from a tax-haven nation with bitcoin in order to try and avoid paying higher taxes. The article begins as follows: Have you ever considered living in a Caribbean tax haven, becoming a citizen, maybe even ditching … Continue reading Forbes: Buy Passport With Bitcoin, Escape Taxes? (July 14, 2021)

Joshua D. Blank and Ari D. Glogower: Progressive Tax Procedure (June 17, 2020)

Joshua D. Blank and Ari D. Glogower, of University of California, Irvine School of Law and Ohio State University (OSU) - Michael E. Moritz College of Law, have made available for download their article, "Progressive Tax Procedure," published in 96 New York University Law Review 668 (2021). The abstract is as followed: Abusive tax avoidance … Continue reading Joshua D. Blank and Ari D. Glogower: Progressive Tax Procedure (June 17, 2020)

IRS Updates Practice Unit on Foreign-Derived Intangible Income (June 28, 2021)

The IRS has updated its practice unit on Foreign-Derived Intangible Income (FDII). The overview is as follows: The Tax Cuts and Jobs Act enacted section 250, which provides for a deduction with respect to Global Intangible Low-Taxed Income (GILTI) and Foreign-Derived Intangible Income (FDII). The deduction is only available to domestic corporations (except that the … Continue reading IRS Updates Practice Unit on Foreign-Derived Intangible Income (June 28, 2021)

Rubin on Tax: Maltese Pension Plan in the Sights of the IRS (July 4, 2021)

Charles (Chuck) Rubin, in his Rubin on Tax blog, discusses the Maltese pension plan which is a planning device for U.S. taxpayers to use the U.S. - Malta tax treaty to obtain tax deferral and tax avoidance benefits similar to a Roth IRA, but without many of the limitations of a Roth IRA. The article begins as … Continue reading Rubin on Tax: Maltese Pension Plan in the Sights of the IRS (July 4, 2021)

Forbes: How States Are Letting Small Businesses Avoid The SALT Cap On Their Tax Returns (July 1, 2021)

Forbes has published an article, "How States Are Letting Small Businesses Avoid The SALT Cap On Their Tax Returns," which discusses the pass-through entity taxes that states are passing. The article begins as follows: A growing number of states are using a workaround to help their taxpayers avoid a Trump-era cap on a critical income … Continue reading Forbes: How States Are Letting Small Businesses Avoid The SALT Cap On Their Tax Returns (July 1, 2021)

Bloomberg Wealth: Biden Wants to Dismantle Two Weapons the Richest 0.1% Use to Avoid Taxes (June 28, 2021)

Allyson Versprille and Ben Steverman of Bloomberg Wealth has made available for download their article, “Biden Wants to Dismantle Two Weapons the Richest 0.1% Use to Avoid Taxes,” which discusses provisions in the U.S. Treasury's "Green Book" that aim at closing loopholes utilized by the wealthiest Americans to legally avoid taxes. The article begins as follows:  An unpleasant surprise … Continue reading Bloomberg Wealth: Biden Wants to Dismantle Two Weapons the Richest 0.1% Use to Avoid Taxes (June 28, 2021)

Forbes: How To Minimize Taxes Like A Billionaire In 2021 (June 25, 2021)

Forbes has published an article, “How To Minimize Taxes Like A Billionaire In 2021,” which discusses methods and strategies that the wealthiest Americans have used to minimize the taxes they owed. The article begins as follows: While recent reporting may make it seem that all “rich” people are able to avoid paying taxes, I assure … Continue reading Forbes: How To Minimize Taxes Like A Billionaire In 2021 (June 25, 2021)

Pillsbury Winthrop Shaw Pittman LLP: Potential Tax Law Overhauls in 2021: Summary and Planning Recommendations (June 25, 2021)

Pillsbury Winthrop Shaw Pittman LLP, has made available for download their article, "Potential Tax Law Overhauls in 2021: Summary and Planning Recommendations", published in JDSUPRA. The abstract begins as follows: Tax planning takes on increased significance when federal and local governments begin announcing proposals to raise revenues in advance of enacting legislation aimed to increase taxes. This year, we … Continue reading Pillsbury Winthrop Shaw Pittman LLP: Potential Tax Law Overhauls in 2021: Summary and Planning Recommendations (June 25, 2021)

Abigail Disney: I Was Taught From a Young Age to Protect My Dynastic Wealth (June 17, 2021)

Abigail Disney has made available for download her article, "I Was Taught From a Young Age to Protect My Dynastic Wealth," published in The Atlantic. The article begins as follows: When ProPublica published its report last week on the tax profiles of 25 of the richest Americans, jaws dropped across the United States. How was it possible … Continue reading Abigail Disney: I Was Taught From a Young Age to Protect My Dynastic Wealth (June 17, 2021)

Bloomberg Wealth: A Record Buyout Is Just the Start as Wealthy Flee Tax Hike (June 22, 2021)

Melissa Karsh, Michelle F. Davis, and Devon Pendleton of Bloomberg Tax has made available for download their article, “A Record Buyout Is Just the Start as Wealthy Flee Tax Hike” which discusses how the threat of subjecting billions in proceeds to additional capital gains taxes has motivated wealthy individuals and corporations to make sales before the end of 2021, when … Continue reading Bloomberg Wealth: A Record Buyout Is Just the Start as Wealthy Flee Tax Hike (June 22, 2021)

Forbes: Recent IRS Memorandum Reaffirms Bitcoin, Ether & Litecoin Exchanges Are Not Like-Kind (June 18, 2021)

Forbes has published an article, "Recent IRS Memorandum Reaffirms Bitcoin, Ether & Litecoin Exchanges Are Not Like-Kind", which discusses laws regarding the deference of capital tax gains in relation to cryptocurrency and trade. The article begins as follows: Tax law prior to January 1, 2018 allowed you to defer capital gains taxes when you exchange … Continue reading Forbes: Recent IRS Memorandum Reaffirms Bitcoin, Ether & Litecoin Exchanges Are Not Like-Kind (June 18, 2021)

Bloomberg Wealth: Tax Pros Caution Some Clients on Taking Monthly Child Tax Credit (June 21, 2021)

Allyson Versprille of Bloomberg News has made available for download her article, “Tax Pros Caution Some Clients on Taking Monthly Child Tax Credit” which discusses how the upcoming IRS tool, the Child Tax Credit Update Portal, may help households and raises other concerns IRS may need to adjust. The article begins as follows:  Some tax professionals are urging … Continue reading Bloomberg Wealth: Tax Pros Caution Some Clients on Taking Monthly Child Tax Credit (June 21, 2021)

TaxProf Blog – Bryan Camp: Lesson From The Tax Court: A Lesson Of Interest (June 21, 2021)

Bryan Camp has published an article on the TaxProf Blog, titled “Lesson From The Tax Court: A Lesson Of Interest”, which discusses the outcomes of Kannarkat P. Verghese et al. v. Commissioner, T.C. Memo. 2021-70 (June 7, 2021) (Judge Gustafson) with regards to accumulated interest imposed upon taxpayers during years of audit and litigation with the … Continue reading TaxProf Blog – Bryan Camp: Lesson From The Tax Court: A Lesson Of Interest (June 21, 2021)

Fred B. Brown: Designing Nonrecognition Rules Under the Internal Revenue Code (June 5, 2021)

Fred B. Brown, of University of Baltimore - School of Law, has made available for download his article, “Designing Nonrecognition Rules Under the Internal Revenue Code”, published in 24 Florida Tax Review (forthcoming 2021). The abstract is as follows: Nonrecognition rules are a prominent feature of the income tax laws and are a source of … Continue reading Fred B. Brown: Designing Nonrecognition Rules Under the Internal Revenue Code (June 5, 2021)

Orly Mazur: Can Blockchain Revolutionize Tax Administration? (May 7, 2021)

Orly Mazur, of Southern Methodist University's Dedman School of Law, has made available for download her article, “Can Blockchain Revolutionize Tax Administration?”, published in the SMU Dedman School of Law Legal Studies Research Paper. The abstract is as follows: Experts predict that the use of smart contracts and other applications of blockchain technology can potentially … Continue reading Orly Mazur: Can Blockchain Revolutionize Tax Administration? (May 7, 2021)

Andrea Monroe: Making Tax Law Work: Improvisation and Forgotten Taxpayers in Partnership Tax (May 1, 2021)

Andrea Monroe, of Temple University - James E. Beasley School of Law, has made available for download her article, “Making Tax Law Work: Improvisation and Forgotten Taxpayers in Partnership Tax,” published in Temple University Legal Studies Research Paper No. 2021-23. The abstract is as followed: There is a growing awareness that federal tax law caters … Continue reading Andrea Monroe: Making Tax Law Work: Improvisation and Forgotten Taxpayers in Partnership Tax (May 1, 2021)

Albert Feuer: IRS Guidance About the SECURE Act’s Beneficiary Provisions Requires Revision (May 7, 2021)

Albert Feuer, of Law Offices of Albert Feuer, has made available for download his article, "IRS Guidance About the SECURE Act's Beneficiary Provisions Requires Revision," published in 49 Comp. Plan. J. No. 5, 78 , 2021. The abstract is as followed: The IRS has presented its first and only guidance about how the SECURE Act … Continue reading Albert Feuer: IRS Guidance About the SECURE Act’s Beneficiary Provisions Requires Revision (May 7, 2021)

BDO: South Carolina Enacts PTE Tax Election As Workaround To $10K Salt Cap (June 2021)

Angela Acosta of BDO has published an article, “South Carolina Enacts PTE Tax Election As Workaround To $10K Salt Cap,” which discusses the logistics of South Carolina following in the footsteps of other states and implementing PTE taxation options. The article begins as follows: South Carolina enacted S.B. 627 on May 17, 2021, joining 11 other states … Continue reading BDO: South Carolina Enacts PTE Tax Election As Workaround To $10K Salt Cap (June 2021)