LexisNexis® Legal Newsroom
Caplin & Drysdale: Alert: The Gift Tax and Contributions to Section 501(c)(4) Organizations: Less than Meets the Eye?

June 14, 2011, Caplin & Drysdale News reports suggesting that the IRS has opened federal gift tax examinations of five donors to section 501(c)(4) nonprofit organizations have generated considerable concern over the past few weeks. In a letter dated May 31, IRS Commissioner Douglas H. Shulman...

Options For Clients Who Offer Retirement Benefits For Domestic Employees, From Morrison & Foerster

By Wendy M. Greenberg, Esq. , Morrison & Foerster LLP We have previously discussed in this space the possible tax traps related to clients' gifts and bequests to their employees. This article continues in that vein to provide some practical options specifically for clients who would like...

Two Year Increase in Gift Tax Exclusion is Nearing Its End – The Window for Tax Savings Is Closing Quickly

By Genevieve M. Moore and Richard S. Kinyon , Morrison & Foerster LLP As reported in this space over the last several months, there has been unprecedented upheaval in the federal transfer tax world in the last few years. One element of this was the unexpected increase in the federal gift and...

A Time Bomb of a Tax Code

There's a lot of serious news out there - tragedy, health care, a nuclear Iran. It seems the news of the day roars at us. But if you turn down the sound, you can hear it: tick, tick, tick. What is it, you say? It's the federal tax system, and it's set to explode. And if it does, there...

Obama vs. Romney: What It Means for the Estate Tax - Will It be Eliminated or Renewed?

The December 31, 2012 sunset date for the estate tax, as provided by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, is once again quickly approaching, and in typical fashion there is a divide over what the fate of the estate tax should be. With the Obama and Romney...