Tax Reform Implications for Fiduciaries

By Nicole Pursley The Tax Cuts and Jobs Act of 2017 (the Tax Act) made significant changes to the United States Tax Code, with implications on virtually all areas of taxation, including some that affect fiduciaries. This article provides a broad overview of some tax implications that may be of importance to trust and estate … Continue reading Tax Reform Implications for Fiduciaries

Crawford & Blattamachr: Basis and Bargain Sales: Income Tax and Other Concerns, The Tax Lawyer (2020)

Bridget J. Crawford, Pace University School of Law, and Jonathan G. Blattmachr, have made available for download their forthcoming Tax Lawyer article, Basis and Bargain Sales: Income Tax and Other Concerns. The Abstract is as follows: This article explores the income tax consequences of the sale during lifetime and at death of property for less … Continue reading Crawford & Blattamachr: Basis and Bargain Sales: Income Tax and Other Concerns, The Tax Lawyer (2020)

Benyamini, Tax-exempt trusts: New guidance on Sec. 199A deduction, The AICPA Tax Adviser (Nov. 1, 2019)

Nanaz Benyamini has published his article, Tax-exempt trusts: New guidance on Sec. 199A deduction in The AICPA Tax Adviser (Nov. 1, 2019). The Abstract is as follows: The IRS has posted informal guidance to explain how trusts that file Form 990-T, Exempt Organization Business Income Tax Return, and have unrelated business income, can claim the qualified … Continue reading Benyamini, Tax-exempt trusts: New guidance on Sec. 199A deduction, The AICPA Tax Adviser (Nov. 1, 2019)

Zhao: New rule on nonresident aliens in an S corporation, The AICPA Tax Adviser (Nov. 1, 2019)

Fei Zhao, CPA, has published his article in the AICPA Tax Adviser, New rule on nonresident aliens in an S corporation. The Abstract is as follows: The new tax law provides a way to avoid the unexpected termination of the S election when a nonresident alien becomes a potential current beneficiary of an electing small … Continue reading Zhao: New rule on nonresident aliens in an S corporation, The AICPA Tax Adviser (Nov. 1, 2019)

Kim Trujillo, Unexpected tax bills for simple trusts after tax reform, AICPA Tax Advisor (Sept. 1, 2019)

Kim Trujillo has published an article, Unexpected tax bills for simple trusts after tax reform, published in the AICPA Tax Advisor (Sept. 1, 2019). The article begins as follows: An overlooked impact of the 2017 tax reform act has resulted in many simple trusts' having a tax liability on ordinary income, which was rarely the … Continue reading Kim Trujillo, Unexpected tax bills for simple trusts after tax reform, AICPA Tax Advisor (Sept. 1, 2019)

Resolving Tax Debts is Easy: It’s All About the Process

By Eric L. Green, Esq. Taxpayers often become frustrated and scared when dealing with the IRS on a back tax debt.In reality, however, resolving a tax debt is reasonably straightforward and can save taxpayers from unnecessary distress. A statutory lien is normally issued after tax returns are filed and payments must be arranged by the … Continue reading Resolving Tax Debts is Easy: It’s All About the Process

Diana Theis: IRA Beneficiary Options: What You Need to Know (Aug. 13, 2019) (Wolters Kluwer)

Diana Theis, Sr. Specialized Consultant at Wolters Kluwer has published her insight, IRA Beneficiary Options: What You Need to Know (Aug. 13, 2019) (Wolters Kluwer). Her article begins as follows: The required minimum distribution (RMD) rules applicable to individual retirement accounts (IRAs) are written in two parts, including distributions before an IRA owner’s death (i.e., … Continue reading Diana Theis: IRA Beneficiary Options: What You Need to Know (Aug. 13, 2019) (Wolters Kluwer)