Forbes: S Corp To Partnership Conversion Under Build Back Better (October 1, 2021)

Forbes has published an article, “S Corp To Partnership Conversion Under Build Back Better”, which discusses provisions of the Build Back Better Act such as the differing restrictions between S Corporations and Partnerships. The article begins as follows:  One of the most exciting provisions of the Build Back Better Act, to me anyway, is the … Continue reading Forbes: S Corp To Partnership Conversion Under Build Back Better (October 1, 2021)

Tyler Allain, Natalie Chaudhury, and Matthew Fecteau (Goodwin LLP): U.S. House Proposals Would Significantly Impact Estate Planning for High Net Worth Individuals If Enacted (September 30, 2021)

Tyler Allain, Natalie Chaudhury, and Matthew Fecteau, of (Goodwin LLP), have made available fordownload their article, "U.S. House Proposals Would Significantly Impact Estate Planning for High Net Worth Individuals If Enacted," published in JDSUPRA. The article begins as follows: The U.S. House Committee on Ways and Means’ tax proposals would significantly impact estate planning for … Continue reading Tyler Allain, Natalie Chaudhury, and Matthew Fecteau (Goodwin LLP): U.S. House Proposals Would Significantly Impact Estate Planning for High Net Worth Individuals If Enacted (September 30, 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)

Forbes: TPC: The Ways & Means Reconciliation Bill Would Raise Taxes on High Income Households, Cut Taxes on Average For Nearly Everyone Else (September 28, 2021)

Forbes has published an article, “TPC: The Ways & Means Reconciliation Bill Would Raise Taxes on High Income Households, Cut Taxes on Average For Nearly Everyone Else”, which discusses major provisions of the House Ways & Means Committee’s budget reconciliation tax bill. The article begins as follows:  All major provisions of the House Ways & … Continue reading Forbes: TPC: The Ways & Means Reconciliation Bill Would Raise Taxes on High Income Households, Cut Taxes on Average For Nearly Everyone Else (September 28, 2021)

NY Times (September 24, 2021): The Tax Loophole that Helps America’s Richest Families Stay That Way

Robin Kaiser-Schatzlein, in his New York Times article, discusses the "stepped up basis" as one of the most important tax loopholes for wealthy Americans. His article, “The Tax Loophole that Helps America's Richest Families Stay That Way”, begins as follows: Most people have probably never heard of a “stepped up basis,” but it might just be the … Continue reading NY Times (September 24, 2021): The Tax Loophole that Helps America’s Richest Families Stay That Way

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)

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)

Sharon Klein, Wilmington Trust: New York’s Latest Legislative Session – What Passed, What Didn’t, What’s Next (September 13, 2021)

Sharon Klein, President, Family Wealth, Eastern US Region, Wilmington Trust, NA, has made available for download her article, which was recently published in the New York Law Journal’s Special Trusts & Estates Section: New York’s Latest Legislative Session: What Passed, What Didn’t, What’s Next. The abstract is as follows: Learn about what passed, what didn’t, and … Continue reading Sharon Klein, Wilmington Trust: New York’s Latest Legislative Session – What Passed, What Didn’t, What’s Next (September 13, 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)

NY Times (September 23, 2021): In Push to Tax the Rich, White House Spotlights Billionaires’ Tax Rates

Jim Tankersley, in his New York Times article, discusses President Biden's recent push to increases taxes on the wealthy. His article, “In Push to Tax the Rich, White House Spotlights Billionaires' Tax Rates”, begins as follows: WASHINGTON — President Biden is leaning into his push to increase taxes on the rich as he seeks to unify Democrats in the … Continue reading NY Times (September 23, 2021): In Push to Tax the Rich, White House Spotlights Billionaires’ Tax Rates

TaxProf Blog – Bryan Camp: Lesson From the Tax Court: The 411 on Section 911 (August 30, 2021)

Bryan Camp has published an article on the TaxProf Blog, titled "Lesson From the Tax Court: The 411 on Section 911", which discusses the case of Deborah C. Wood v. Commissioner, T.C. Memo. 2021-103 (Aug. 18, 2021) (Judge Lauber). The article begins as follows: The pullout from Afghanistan has dominated the news, and many of our lives.  … Continue reading TaxProf Blog – Bryan Camp: Lesson From the Tax Court: The 411 on Section 911 (August 30, 2021)

Bloomberg Tax: Remote Workers Face Tax Headaches as State’s Split on More Relief (August 31, 2021)

Bloomberg Tax discusses the struggles that remote workers face due to differing income tax laws in each state. The article begins as follows: Companies with workers punching in from a smattering of different zip codes during the pandemic continue to receive mixed messages on where they owe taxes on employee income. South Carolina is the … Continue reading Bloomberg Tax: Remote Workers Face Tax Headaches as State’s Split on More Relief (August 31, 2021)

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)

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)

TaxProf Blog – Paul Caron: WSJ: Can Congress Tax Wealth by ‘Deeming’ it Income? (September 8, 2021)

Paul Caron has published an article on the TaxProf Blog, titled “WSJ: Can Congress Tax Wealth by 'Deeming' it Income?", which discusses a Wall Street Journal op-ed concerning the right of Congress to categorize inherited wealth as income in order to tax it. The article begins as follows: Charles and Kathleen Moore have done well, but … Continue reading TaxProf Blog – Paul Caron: WSJ: Can Congress Tax Wealth by ‘Deeming’ it Income? (September 8, 2021)

Forbes: Richest 5% of Americans ‘Choose Not to Pay’ $307 Billion in Taxes Each Year, Treasury Reports (September 8, 2021)

Forbes has published an article, “Richest 5% of Americans 'Choose Not to Pay' $307 Billion in Taxes Each Year, Treasury Reports”, which discusses how wealthy Americans evade billions of dollars in taxes every year. The article begins as follows:  The wealthiest Americans are evading hundreds of billions of dollars in taxes each year, the Treasury … Continue reading Forbes: Richest 5% of Americans ‘Choose Not to Pay’ $307 Billion in Taxes Each Year, Treasury Reports (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)