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Results: 1-10 of 18

Estate planning could be affected by Administration’s budget proposals

  • McGuireWoods LLP
  • -
  • USA
  • -
  • April 12 2013

On Wednesday, April 10, the Obama Administration proposed ambitious spending and revenue changes, as it released its proposed budget for fiscal

Hobbs et al. v. Legg Mason Investment Counsel & Trust Co., 2011 U.S. Dist. Lexis 999 (N.D. Mississippi, January 5, 2011); Hobbs et al. v. Legg Mason Investment Counsel & Trust Co., 2011 U.S. Dist. Lexis 7168 (January 25, 2011)

  • McGuireWoods LLP
  • -
  • USA
  • -
  • March 21 2012

Court refuses to dismiss claim that trustee was negligent in failing to inform beneficiaries about GST taxes owed on trust distributions, but dismissed claims that trustee had a duty to modify the trust to avoid the taxes

Ron Aucutt’s “top ten” estate planning and estate tax developments of 2012

  • McGuireWoods LLP
  • -
  • USA
  • -
  • December 28 2012

As 2012 comes to an end, "Uncertainty" is certainly the operative word for tax professionals. No one knows (as of this date) what the tax laws, including

Estate tax changes past, present and future

  • McGuireWoods LLP
  • -
  • USA
  • -
  • January 14 2013

This outline is a selective and still evolving review of the history of the federal estate tax. It originated in the context of the attempts to repeal

United States v. Macintyre, 2012 U.S. Dist. Lexis 42487 (S.D. Tex., 2012)

  • McGuireWoods LLP
  • -
  • USA
  • -
  • July 26 2012

Income beneficiary liable for gift taxes owed by terminated GRIT

IRS suspends for further study contributions to 501(c)(4) organizations

  • McGuireWoods LLP
  • -
  • USA
  • -
  • July 7 2011

In a directive issued today to IRS offices, the Service is suspending any further examination activity on the gift tax treatment of contributions to 501(c)(4) organizations

New guidance regarding FBARs and offshore voluntary disclosure initiative

  • McGuireWoods LLP
  • -
  • USA
  • -
  • June 21 2011

The Treasury Department and Internal Revenue Service (together, Treasury) have recently provided U.S. taxpayers additional guidance regarding the terms and deadlines for filing the Form TD 90.22-1 (FBAR) and for participating in the 2011 Offshore Voluntary Disclosure Initiative (OVDI

IRS moves to tax contributions to 501(c)(4) groups active in politics

  • McGuireWoods LLP
  • -
  • USA
  • -
  • June 9 2011

The IRS has invoked a provision that had rarely, if ever, been enforced to inform big donors to 501(c)(4) advocacy groups that their donations may be subject to gift taxes of 35 on any donation exceeding the annual gift tax exemption of $13,000 per individual or $26,000 for couples filing joint returns

CBO study examines options for charitable giving and tax consequences

  • McGuireWoods LLP
  • -
  • USA
  • -
  • May 27 2011

Congress and the Obama administration are looking closely at options to revise or replace the current charitable deduction

UK remittance basis charge to offset US income tax

  • McGuireWoods LLP
  • -
  • United Kingdom, USA
  • -
  • August 25 2011

As the result of a recent and long-awaited IRS ruling, U.S. domiciliaries resident in the UK have a useful tool at their disposal to minimize their overall U.S. and UK income tax liability