Tax Law

Recent Posts

IRS Issues Proposed Rules Clarifying Alternate Valuation Rules
Posted on 19 Nov 2011 by Patricia Tyler

The executor can elect to value property in the decedent's estate at the alternate valuation date in an effort to reduce the estate's tax liability. IRC § 2032 . The alternate valuation election is provided solely to mitigate the hardship... Read More

IRS Issues Final "Hot Stock" Regulations
Posted on 25 Nov 2011 by Maria Domingo

The IRS recently issued final regulations regarding the distribution of stock of a controlled corporation acquired in a transaction under IRC Section 355(a)(3)(B) . TD 9548, 76 FR 65110 . The final regulations adopt the substantive rules of the temporary... Read More

Penalties on Exempt Entities & Managers for Prohibited Tax Shelters
Posted on 2 Feb 2012 by LexisNexis Tax Law Center Staff

By Andrew W. Singer, Esq.* In addition to imposing disclosure obligations on participants in and material advisors to reportable transactions and penalties for violation of those obligations, the Code also imposes penalties in the form of excise taxes... Read More

Sutherland Legal Alert: IRS Releases Advance Draft of Proposed Regulations on Governmental Plans
Posted on 11 Nov 2011 by Sutherland Asbill & Brennan LLP

LEGAL ALERT By Carol Weiser The Internal Revenue Service (IRS) has issued an advance notice of proposed rulemaking to release rules being considered for determining governmental plan status for qualified retirement plans under Internal Revenue Code... Read More

Funding the Family Foundation: Qualified Appreciated Stock
Posted on 4 Feb 2013 by Morrison and Foerster LLP

by Joy S. MacIntyre , Morrison & Foerster LLP In an earlier post we described some of the tax benefits - and challenges - associated with donating corporate securities to a family foundation or other private foundation. On the right facts, the donor... Read More

IRS Issues Final "Hot Stock" Regulations
Posted on 25 Nov 2011 by Maria Domingo

The IRS recently issued final regulations regarding the distribution of stock of a controlled corporation acquired in a transaction under IRC Section 355(a)(3)(B) . TD 9548, 76 FR 65110 . The final regulations adopt the substantive rules of the temporary... Read More

IRS Issues Proposed Rules Clarifying Alternate Valuation Rules
Posted on 19 Nov 2011 by Patricia Tyler

The executor can elect to value property in the decedent's estate at the alternate valuation date in an effort to reduce the estate's tax liability. IRC § 2032 . The alternate valuation election is provided solely to mitigate the hardship... Read More

Sutherland Legal Alert: IRS Releases Advance Draft of Proposed Regulations on Governmental Plans
Posted on 11 Nov 2011 by Sutherland Asbill & Brennan LLP

LEGAL ALERT By Carol Weiser The Internal Revenue Service (IRS) has issued an advance notice of proposed rulemaking to release rules being considered for determining governmental plan status for qualified retirement plans under Internal Revenue Code... Read More

Funding the Family Foundation: Qualified Appreciated Stock
Posted on 4 Feb 2013 by Morrison and Foerster LLP

by Joy S. MacIntyre , Morrison & Foerster LLP In an earlier post we described some of the tax benefits - and challenges - associated with donating corporate securities to a family foundation or other private foundation. On the right facts, the... Read More

Penalties on Exempt Entities & Managers for Prohibited Tax Shelters
Posted on 2 Feb 2012 by LexisNexis Tax Law Center Staff

By Andrew W. Singer, Esq.* In addition to imposing disclosure obligations on participants in and material advisors to reportable transactions and penalties for violation of those obligations, the Code also imposes penalties in the form of excise taxes... Read More

IRC Section 1031 and Phantom Income: Can Property With No Equity Be Exchanged?
Posted on 23 Aug 2010 by Louis Weller

Like-exchanges under IRC Section 1031 (26 USCS 1031) are an important arrow in the quiver of tax planners. However, the collapse and ongoing weakness of the real estate market has highlighted risks associated with Section 1031 transactions, as well as... Read More