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Two taxpayers lose income tax deductions for spousal support payments
  • Loeb & Loeb LLP
  • USA
  • September 5 2013

Two recent Tax Court cases serve as a reminder that the income tax deduction for the payment of spousal support is subject to some very specific rules


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.”


Remember to Make Annual Exclusion Gifts, IRA Charitable Rollover Contributions, and Charitable Contributions
  • Loeb & Loeb LLP
  • USA
  • December 16 2016

We want to remind you to make any annual exclusion gifts before the end of the year. In 2016, each individual can give up to $14,000 to an unlimited


Co-op shareholder cannot deduct amount of assessment to repair damage
  • Loeb & Loeb LLP
  • USA
  • August 2 2011

A recent Tax Court case serves to point up one of the distinctions between owning your home outright and owning your home through the ownership of shares in a residential cooperative corporation (“coop”


Surviving spouse permitted to roll over 401(k) distribution to marital trust
  • Loeb & Loeb LLP
  • USA
  • August 14 2015

The IRS has issued a private letter ruling approving a surviving spouse's rollover of her husband's 401(k) plan account to a spousal IRA. The couple


Consistency in basis reporting
  • Loeb & Loeb LLP
  • USA
  • August 14 2015

A decedent's beneficiaries receive a new income tax basis for the assets that were included in the decedent's estate (with some limited exceptions


More family limited partnerships in court
  • Loeb & Loeb LLP
  • USA
  • April 24 2012

Several recent cases have addressed tax issues related to family limited partnerships or limited liability companies


Important changes proposed to New York estate tax and New York income taxation of trusts, grantors and beneficiaries
  • Loeb & Loeb LLP
  • USA
  • March 5 2014

Important legislation has been introduced by New York Governor Andrew Cuomo that, if passed, would substantially change the New York estate tax


Estate and gift taxes change is coming
  • Loeb & Loeb LLP
  • USA
  • February 4 2009

We already see the beginning of Congressional action on estate, gift, and generation-skipping transfer taxes