Estate of Kite v. Commissioner, T.C. Memo 2013-43 *

USA - March 8 2013
The Tax Court held that a surviving spouse's sale of substantial entity interests to trusts for her children in exchange for a 10-year deferred…

Co-authors: David Pratt, Albert W Gortz, Andrew M Katzenstein, Henry J. Leibowitz, Mitchell M Gaswirth.

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New Form 1041, U.S. Income Tax Return for Estates and Trusts for 2012, and instructions released *

USA - March 8 2013
The IRS has released a final version of the Form 1041, U.S. Income Tax Return for Estates and Trusts for 2012, and the corresponding instructions…

Co-authors: David Pratt, Albert W Gortz, Andrew M Katzenstein, Henry J. Leibowitz, Mitchell M Gaswirth.

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PLR 201303003 *

USA - March 8 2013
The IRS privately ruled that a marital trust that qualified as a QTIP trust under Internal Revenue Code Section 2056(b)(7) would still qualify as…

Co-authors: David Pratt, Albert W Gortz, Andrew M Katzenstein, Henry J. Leibowitz, Mitchell M Gaswirth.

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March interest rates for GRATs, sales to defective grantor trusts, intra-family loans and split interest charitable trusts *

USA - March 8 2013
The March § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 1.4%, which is a slight increase from…

Co-authors: David Pratt, Albert W Gortz, Andrew M Katzenstein, Henry J. Leibowitz, Mitchell M Gaswirth.

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IRS considering change in method used to determine AFRs *

USA - March 8 2013
The IRS has announced that it is considering changes to the methodology used to determine the adjusted applicable federal rates (AFRs) and the…

Co-authors: David Pratt, Albert W Gortz, Andrew M Katzenstein, Henry J. Leibowitz, Mitchell M Gaswirth.

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