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Additional foreign asset reporting required

  • Day Pitney LLP
  • -
  • USA
  • -
  • December 20 2011

U.S. citizens and residents (including individuals who hold a green card or otherwise meet the physical presence requirements under the tax laws) are already required to file returns and pay tax on their worldwide income

T&E Litigation Update: Savage v. Oliszczak

  • Day Pitney LLP
  • -
  • USA
  • -
  • June 30 2010

In Savage v. Oliszczak, Case No. 09-P-513 (June 29, 2010), the Appeals Courts again addressed the enforceability of an in terrorem clause

Death and taxes: here to stay

  • Day Pitney LLP
  • -
  • USA
  • -
  • November 23 2009

It seems hard to believe, but in about six weeks, the federal estate tax is scheduled to be repealed

Status of federal estate tax legislation

  • Day Pitney LLP
  • -
  • USA
  • -
  • December 20 2011

The rumors that circulated in November that the Joint Select Committee on Deficit Reduction (the "Super Committee") would propose significant changes to the federal estate, gift and generation-skipping transfer ("GST") tax laws proved to be unfounded, as the November 23 deadline for the Super Committee passed with no action taken

T&E litigation update: Ajemian v. Yahoo! Inc.

  • Day Pitney LLP
  • -
  • USA
  • -
  • November 30 2010

In Ajemian v. Yahoo! Inc., Case No. 09E-0079-GC1 (Nov. 10, 2010), the Norfolk County Probate and Family Court (Casey, J.) addressed the question of whether the administrators of an estate could access the decedent's e-mail account with Yahoo, including all of the decedent's e-mails

Hiller v. Hiller

  • Day Pitney LLP
  • -
  • USA
  • -
  • May 11 2010

In Hiller v. Hiller, Case No. 09-P-656, 2010 Mass. App. Unpub. LEXIS 455 (Apr. 28, 2010), another decision issued pursuant to Rule 1:28, the description of the underlying facts is scant, but two legal propositions relied upon by the Appeals Court are worth repeating

IRS crackdown on failure to disclose offshore accounts

  • Day Pitney LLP
  • -
  • USA
  • -
  • May 18 2009

For U.S. taxpayers with undisclosed offshore accounts or business activities, now is a critical time to review the legal and tax status of their arrangements, and to weigh their available options very carefully

IRS announces reopening of offshore disclosure program

  • Day Pitney LLP
  • -
  • USA
  • -
  • January 10 2012

Yesterday, January 9, the Internal Revenue Service announced it is reopening its Offshore Voluntary Disclosure Program (OVDP), designed to allow U.S. taxpayers with unreported offshore income and assets to come into compliance with their tax obligations

Trust & estate litigation

  • Day Pitney LLP
  • -
  • USA
  • -
  • August 10 2010

Case law relating to trusts and estates is constantly evolving

Reporting Foreign Bank Accounts

  • Day Pitney LLP
  • -
  • USA
  • -
  • December 30 2013

U.S. taxpayers with a financial interest in or signature authority over foreign financial accounts are required to report them if the aggregate value