Search results

Order by most recent / most popular / relevance

Results: 1-10 of 90

Private letter ruling suggests that assets held in a grantor trust and not included in grantor’s estate may nevertheless receive a basis increase

Loeb & Loeb LLP
-
USA
-
May 20 2013

In PLR 201245006, the IRS addressed a question that has been puzzling tax advisors for years. A person who was not a citizen or resident of the

IRS moves against incomplete gift strategy

Loeb & Loeb LLP
-
USA
-
April 24 2012

For a long time, a popular tax-planning strategy has involved the use of an “incomplete gift.”

Tax Court allows some discount in valuing fractional interests in works of art

Loeb & Loeb LLP
-
USA
-
May 20 2013

In Elkins v. Commissioner (Tax Court, March 11, 2013), the decedent had owned an art collection consisting of 64 pieces, some of which were paintings

President’s fiscal year 2014 budget contains numerous tax provisions

Loeb & Loeb LLP
-
USA
-
May 20 2013

President Barack Obama released his proposed budget for the government's fiscal year 2014 on April 10, 2013, and, not surprisingly, the budget

IRS clarifies application of passive loss rules to trusts

Loeb & Loeb LLP
-
USA
-
November 21 2007

Under IRC 469, losses incurred by individuals (including estates and trusts) in connection with passive activities are deductible only to the extent that the taxpayer also has income from passive activities

Tax court denies business expense deduction for costs incurred consulting for businesses partially owned by the taxpayer

Loeb & Loeb LLP
-
USA
-
December 1 2010

The recent Tax Court case of Estate of Roger Strangeland v. Commissioner illustrates a problem faced by families that have interests in numerous businesses and investments

Discount for fractional interest in art limited to 5

Loeb & Loeb LLP
-
USA
-
May 19 2009

In Stone v. United States (March, 2009) the United States Court of Appeals for the Ninth Circuit (which includes California) upheld an earlier decision by the District Court that an estate was allowed a fractional interest discount of only 5 on the 50 interest it owned in a collection of nineteen paintings

Understanding changes to the federal estate tax law: an in-depth look at the challenges of the 2010 estate tax repeal and consequences for the future

Loeb & Loeb LLP
-
USA
-
March 31 2010

Certain monumental changes have been made to the federal estate tax law in recent times

Executors must be careful when requesting an extension of time to pay estate tax

Loeb & Loeb LLP
-
USA
-
April 6 2011

The federal estate return and the payment of any estate tax are both due nine months after the date of a decedent's death

Foreign bank account reporting update final FBAR Regulations and new 2011 offshore account voluntary disclosure program

Loeb & Loeb LLP
-
USA
-
April 6 2011

Foreign bank account reports (FBARs) for 2010 are due on June 30, 2011 (and no extension is available

next >