Table of Contents Primary Law: New Developments IRS News Tax Development Commentary Primary Law: New Developments Backdoor roth IRA: A tax-saving strategy for some high earners, Mark Friedlich, Tax professionals are considering offering value-added planning services such as backdoor Roth IRAs to help clients save for retirement without facing income restrictions, enabling tax-free growth and … Continue reading Tax Developments (May 2, 2023)

Table of Contents Primary Law: New Developments IRS News Tax Development Commentary Primary Law: New Developments Tax relief for Indiana victims of storm, straight-line winds, and tornadoes: IRA and HSA deadlines postponed, Michael Schiller, The IRS grants tax relief to Indiana storm victims by postponing IRA, HSA, and other tax advantaged account deadlines until July … Continue reading Tax Developments (April 25, 2023)

Table of Contents SSRN Talking Heads Practitioner Journals Law Reviews Law Firm and Similar Newsletters Lay Person News SSRN Monetary Tightening and U.S. Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs? By Erica Xuewei Jiang, Gregor Matvos, Tomasz Piskorski, and Amit Seru Jiang, Matvos, Piskorski, and Seru attribute U.S. bank asset exposures to … Continue reading Wealth Strategies Estate Planning Commentary Weekly Update (April 23, 2023)

Bryan Camp has published an article on the TaxProf Blog, titled "Lesson From The Tax Court: Fill Out The Damn Form," which discusses  Bittner v. U.S.. The article begins as follows The fuss has focused on FBARs.  The FBAR requirements and penalty provisions have been hotly litigated.  Recently the Supreme Court issued an opinion in Bittner v. … Continue reading TaxProf Blog – Lesson From The Tax Court: Fill Out The Damn Form (March 6, 2023)

Weston Blasi, of MarketWatch, has made available for download his article "How Kobe Bryant Made His $600 million Fortune — and Who Is in Charge of it Now," published on MarketWatch. The abstract is as follows: It’s been three years since NBA legend Kobe Bryant, his daughter Gianna, and seven others tragically died in a … Continue reading Weston Blasi: How Kobe Bryant Made His $600 million Fortune — and Who Is in Charge of it Now (January 26, 2023)

On February 24, 2023, the IRS released new proposed regulations regarding the use of forfeitures in qualified retirement plans. The new regulations say that forfeitures arising in any defined contribution plan (including in a money purchase pension plan) may be used for three purposes: to pay plan administrative expenses, to reduce employer contributions under the … Continue reading REG- 122286-18: IRS Releases New Proposed Regulations on Use of Forfeitures in Qualified Retirement Plans (February 25, 2023)

On February 21, 2023, the IRTS released the final regulations that amend the rules for filing electronic tax returns in specific cases. These new rules affect those filing partnership returns, corporate income tax returns, unrelated business income tax returns, withholding tax returns, certain information returns, registration statements, disclosure statements, notifications, actuarial reports, and certain excise … Continue reading T.D. 9972: IRS Releases New Regulations on Electronic Filing of Tax Returns (February 22, 2023)

Charles E. Rounds, Jr., of Suffolk University Law School, has made available for download his article "Is the Property of a Trust Accessible to the Settlor’s Future Creditors?," published in JDSUPRA. The abstract is as follows: Assume an owner of property gratuitously transfers it in trust to an independent trustee, expressly reserving to himself no … Continue reading Charles E. Rounds, Jr. (Suffolk University Law School): Is the Property of a Trust Accessible to the Settlor’s Future Creditors? (February 19, 2023)

Grant Thornton LLP has available for download their article, "Tax Guide for 2023: Top Planning Considerations," on their site. The abstract is as follows: The first quarter of 2023 finds businesses confronting a slew of tax and business challenges. Rising interest rates and inflation continue to plague the economy, and many companies are already girding … Continue reading Tax Guide for 2023: Top Planning Considerations (February 14, 2023)

David L.J.M. Skidmore, of Warner Norcross + Judd, has made available for download his article, Appointment of a Guardian Does Not Mean That the Ward Automatically Lacks Testamentary Capacity, published in JDSUPRA. The abstract is as follows: People frequently assume that a person for whom a guardian/conservator is appointed automatically loses the right to engage … Continue reading David L.J.M. Skidmore (Warner Norcross + Judd): Appointment of a Guardian Does Not Mean That the Ward Automatically Lacks Testamentary Capacity (February 3, 2023)

February 6, 2023-Nicholas Ward Bryan Camp has published an article on the TaxProf Blog, titled “Lesson From The Tax Court: The Tax Court Is Not Your Advocate" which discusses Robert B. Lucas v. Commissioner. The article begins asfollows: Today I present two lessons.  First, we learn why diabetes is not a per se disability sufficient to avoid penalties … Continue reading TaxProf Blog – Lesson From The Tax Court: The Tax Court Is Not Your Advocate (February 6, 2023)

February 5, 2023-Nicholas Ward Susan Friedman, of Kohrman Jackson & Krantz LLP, has made available for download her article, "The Risks of DIY Estate Planning," published in JDSUPRA. The abstract is as follows: The other day, my hot water tank broke. At first, I just thought the pilot light went out. I was easily able … Continue reading Susan Friedman (Kohrman Jackson & Krantz LLP): The Risks of DIY Estate Planning (February 3, 2023)

February 2, 2023-Nicholas Ward Joshua Bearce, Charles Jacob III, et al. of Goulston and Storrs PC , have made available for download their article "Probate & Fiduciary Litigation Newsletter - February 2023," published in JDSUPRA. The abstract is as follows: This newsletter is intended to keep readers informed about developments in probate and fiduciary litigation … Continue reading Joshua Bearce, Charles Jacob III, et al. (Goulston & Storrs PC): Probate & Fiduciary Litigation Newsletter – February 2023 (January 31, 2023)