Taxation

Supreme Court weighs in on valuation of insurance in stock redemption agreement

In 2021, we blogged about a valuation case, Connelly v. U.S., 20 F. 4th 412 (8th Cir. 2023). We noted…

4 weeks ago

Modifying a trust can be a taxable event

On November 28, 2023, the IRS Office of Chief Counsel published a memorandum addressing whether modification of a grantor trust…

2 months ago

2024 Federal Tax Rates

Each year statutory provisions require the IRS to adjust tax rates based on inflation. Although we're a bit tardy posting…

4 months ago

Can Congress Tax Unrealized Gains?

In a case to be argued on December 5, 2023, Moore v. United States, the question presented is whether the…

9 months ago

Relief in 2023 from RMD Rules

In Notice 2023-54, the IRS granted relief to individuals and retirement plans from taking required minimum distributions in 2023. This…

9 months ago

IRS says “Wait a Minute” on Stepping-up Basis for Assets in Irrevocable Trust

Until recently, the IRS has said little (if anything) regarding whether assets the beneficiary of an irrevocable trust receives get…

1 year ago

Setting Up a Tax Exempt Organization

There are several steps in setting up a tax exempt organization. We're reviewing them here. However, this post is not…

1 year ago

Settlement of Probate Dispute Enforced As Written

On June 12, 2023, the Tennessee Court of Appeals (Knoxville) upheld a settlement agreement requiring the recipient of funds in…

1 year ago

Elder Law Mishmash June 2023

The following is a mishmash of information on various Elder Law, Special Needs Law, and Estate Planning issues. It also…

1 year ago

IRS Tax Tip 2023-75 – Notices CP2100 and 2100A

On June 1, 2023, the IRS issued Tax Tip 2023-75. There, the IRS explained: When banks, credit unions, businesses and…

1 year ago