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Results: 1-10 of 110

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


High Net Worth Family Tax Report, Vol. 11, No. 1
  • Loeb & Loeb LLP
  • USA
  • April 6 2016

While we usually think of real property as the asset most often exchanged under Section 1031 of the Internal Revenue Code, the provisions of that are


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.”


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”


IRS streamlines Offshore Voluntary Disclosure Program
  • Loeb & Loeb LLP
  • USA
  • September 29 2014

On June 18, 2014, the IRS announced new Streamlined Filing Compliance Procedures (Streamlined Programs) and changes to the existing Offshore


Family limited partnerships: the litigation continues
  • Loeb & Loeb LLP
  • USA
  • December 1 2011

The litigation over valuation discounts associated with family limited partnerships and limited liability companies shows no signs of abating


Fifth Circuit reverses Tax Court on amount of discount allowed in determining estate tax value of works of art
  • Loeb & Loeb LLP
  • USA
  • December 23 2014

We previously reported on the Tax Court case Elkins v. Commissioner (March 11, 2013) (Vol. 8, No. 2, May 2013). At issue was the value, for estate


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


Proper documentation is required for charitable contributions
  • Loeb & Loeb LLP
  • USA
  • April 6 2011

Recent IRS audit activity serves as a reminder that when you make a charitable gift, you must obtain the proper documentation in order to be able to take an income tax deduction