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Results: 11-20 of 143

Now is the time to take advantage of changes to the federal gift and generation-skipping transfer taxes in 2010

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • October 15 2010

Two changes to the Federal wealth transfer system that were enacted pursuant to the Economic Growth and Tax Relief Reconciliation Act of 2001 (the "2001 Act") during President Bush's first year in office create, at least in the absence of retroactive legislation, a favorable environment in 2010 for gift planning

Homestead exemption allowed for separated (but not divorced) taxpayer

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • December 6 2010

In Wells v. Haldeos, Fla. Dist. Ct. App., 2nd Dist., Dkt. No. 2D09-4250 (10222010), an appeal by the property appraiser of Pasco County, Florida of a final judgment in favor of the taxpayer, the Florida District Court of Appeals for the 2nd Circuit held that a separated (but not divorced) taxpayer was eligible to receive a homestead exemption for his property in Florida despite the fact that his wife receives a residency-based property tax exemption on a separate property in New York

Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • December 15 2010

On December 15, 2010, the Senate passed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the "Bill"

H.R. 4853: summary and planning points

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • December 13 2010

Late last Thursday night, the Senate Finance Committee released H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the “Bill”

Estate, gift and GST tax provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Jobs Creation Act of 2010

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • December 13 2010

Late last Thursday night, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the "Bill"

IRS issues an inconsistent ruling on whether a grantor trust can hold an IRA - Priv. Ltr. Rul. 201117042 (April 29, 2011)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • July 5 2011

In 2006, the IRS issued Private Letter Ruling 200620025 in which the IRS approved of the transfer of an Inherited IRA to a special needs trust (“SNT”) that was a grantor trust for income tax purposes

Electing out of the application of the estate tax and allocating basis step-up for 2010 decedents

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • August 9 2011

The legislation enacted in December 2010 retroactively reinstated the federal Estate tax for 2010 decedents but allows an applicable Executor to “opt out” of the Estate tax regime by making a “Section 1022 Election”

IRS Form 8939 and instructions released

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • November 15 2011

The IRS has released Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent

Use it or lose it - increased gift and GST exemption amounts expire on 123112

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • September 10 2012

On December 17, 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the "2010 Act") was signed into law, making significant modifications to the estate, gift and generation-skipping transfer ("GST") taxes