Tax Law

Recent Posts

Final Regs on Income Ordering Rules for Payments to Charitable Beneficiaries
Posted on 24 Apr 2012 by Patricia Tyler

For a trust to qualify for the charitable deduction, a charitable contribution must be made from gross income. [ See IRC § 642(c) .] IRC Section 642 requires tracing since the source of the charitable contribution must be gross income rather than... Read More

Obama vs. Romney: What It Means for the Estate Tax - Will It be Eliminated or Renewed?
Posted on 20 Aug 2012 by Patricia Tyler

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... Read More

Favorable, Unfavorable Exemption Rulings Available for Public Review
Posted on 19 Mar 2012 by Patricia Tyler

With the issuance of final Treasury Regulations, the IRS will now make available for public review favorable and unfavorable exemption rulings. The IRS for a while now has been making available for public inspection favorable exemption letters issued... Read More