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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


California Supreme Court Clarifies Certain Statutes Regarding Trust Spendthrift Clauses
  • Loeb & Loeb LLP
  • USA
  • April 17 2017

The California Supreme Court's recent opinion in Carmack v. Reynolds clarifies the effect of "spendthrift" trust clauses, which are intended to


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


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


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.”


ILPA Questions, Suggests Guidance on, Subscription Lines
  • Loeb & Loeb LLP
  • USA
  • April 18 2017

An industry group representing institutions that invest in private equity funds has questions about how funds use subscription lines or other forms


New IRS Reporting Requirements for Foreign-Owned U.S. Disregarded Entities
  • Loeb & Loeb LLP
  • USA
  • April 17 2017

In December 2016, new regulations were issued that require any U.S. entity that is both (i) wholly owned (whether directly or indirectly) by a foreign


Tax Court Resolves Dispute Over the Valuation of Old Master Artworks
  • Loeb & Loeb LLP
  • USA
  • April 17 2017

The Tax Court frequently becomes involved in the resolution of disputes between a taxpayer and the IRS over the value of an asset. Most often these


Modest Inflation Adjustments for 2017
  • Loeb & Loeb LLP
  • USA
  • December 16 2016

A number of provisions of the Internal Revenue Code ("IRC" or "Code") provide for annual adjustments to dollar amounts based on certain inflation


High net worth family tax report, vol. 10, no.3
  • Loeb & Loeb LLP
  • USA
  • December 16 2015

A variety of planning steps should be considered before the end of the year. One of these is to make any $14,000 annual exclusion gifts you wish to