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Final regulations released for basis in interests in tax-exempt trusts
  • Steptoe & Johnson LLP
  • USA
  • August 11 2015

Today the IRS released final regulations (TD 9729) that provide rules for determining a taxable beneficiary's basis in a term interest in a

Updated IRS priority guidance plan includes new exempt organizations items
  • Steptoe & Johnson LLP
  • USA
  • August 3 2015

On July 31, the IRS released its updated priority guidance plan for 2015-2016. The priority guidance plan describes projects the IRS intends to work

Will Camp tax plan impact charitable giving and tax-exempt organizations?
  • Baker & Hostetler LLP
  • USA
  • April 11 2014

Editor's Note: The following article was originally published to BakerHostetler's WealthDirector blog. In late February 2014, House Ways and Means

Review of income tax deduction rules for charitable gifts
  • Bryan Cave LLP
  • USA
  • January 8 2014

The Chronicle of Philanthropy recently released its list of the Top 10 biggest charitable gifts of 2013 (which is really the Top 15, since 5 gifts

November interest rates for GRATs, sales to defective grantor trusts, intra-family loans and split interest charitable trusts
  • Proskauer Rose LLP
  • USA
  • November 1 2013

The November 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0. This is down from October's 2.4

The impact of the fiscal cliff legislation - a brief window for charitable IRA rollovers
  • Caplin & Drysdale, Chartered
  • USA
  • January 11 2013

On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the "Act"), commonly known as the "fiscal cliff"

Private Letter Ruling 201236022 (09112012)
  • Proskauer Rose LLP
  • USA
  • November 15 2012

In this PLR, the Internal Revenue Service ("IRS") ruled that amounts paid to charities from the residue of the decedent's estate pursuant to a settlement agreement qualified for the charitable deduction for federal estate tax purposes because the charities had an enforceable right under state law to receive a portion of the residuary estate due to the undue influence by the drafting attorney (who was also a beneficiary

Income tax deductions for charitable donations may be denied without a qualified appraisal Mohamed v. Commissioner, T.C. Memo 2012-152
  • Proskauer Rose LLP
  • USA
  • September 10 2012

Obtaining a qualified appraisal is an essential requirement for claiming an income tax deduction for charitable donations of property worth more than $5,000

Gifting in 2012: now or never?
  • Hunton & Williams LLP
  • USA
  • August 22 2012

Currently Americans can give $5,120,000 to anyone without paying gift taxes, less earlier taxable gifts

Proposed regulations offer new examples of program-related investments
  • Morgan Lewis & Bockius LLP
  • USA
  • May 11 2012

The Internal Revenue Service (IRS) and the Treasury Department have issued long-awaited proposed Treasury Regulations providing nine additional examples of investments that qualify as program-related investments (PRIs