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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 just-released 5 th edition of Rich States, Poor States , the American Legislative Exchange Council's (ALEC) report on economic competitiveness of the states, reaches familiar conclusions shadowing those set forth in preceding editions: How the...

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,...

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 just-released 5 th edition of Rich States, Poor States , the American Legislative Exchange Council's (ALEC) report on economic competitiveness of the states, reaches familiar conclusions shadowing those set forth in preceding editions: How the...

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...

In 2013, New York undertook a comprehensive review of the state's tax structure and made recommendations to improve and simplify the current tax system. This article discusses the findings of that review and the resulting legislation to implement...

An Interpretation of the Internal Revenue Code and Treasury Regulations Supporting the Tax Deductibility of the Voluntary Charitable Contribution in Perpetuity of a Partial Interest in an Appropriative or Riparian Water Right Transferred Instream for...

Estate tax exposure is one area of structuring a U.S. real property investment that is frequently ignored by foreign individual investors. In this Analysis, Rufus v. Rhoades, Esq., co-author of the treatise Rhoades & Langer, U.S. International Taxation...

By Prof. John H. Skarbnik In estate planning it is important to determine if the testator or transferor has the right to apportion the federal estate tax, and if so, the scope of that right. The testator's right to apportion the federal estate...

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act (the "2010 Act") enacted a "portability" feature; it lets a surviving spouse take advantage of any unused estate tax exemption of a predeceased spouse...

In this Analysis, Elaine Gagliardi discusses determination of the applicable exclusion amount available to estates of decedents dying in 2011 and 2012. In particular, Notice 2011-82 provides guidance as to how to preserve the deceased spousal unused...

On this edition, attorney Randy Spiro discusses how the estate tax exemption of the first spouse to die is only portable if an election is made on that spouse's estate tax return. He explains how many surviving spouses will not want to incur the cost...

BY: JOHN H. TURNER, III & JEFFREY D. CHADWICK Background to Portability. While the estate tax has been in force for many years, most estates have remained exempt from the tax due to an "applicable exclusion amount" that shelters...

By Philip J. Michaels , Joseph C. Sleeth, Jr. , Stephanie E. Heilborn and Lindsay H. Brown Estate Tax The federal estate tax applicable exclusion amount increases from $5,000,000 to $5,120,000 per person for 2012. The...