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

Substantial Economic Effect
Posted on 11 Jun 2012 by LexisNexis Tax Law Community Staff

By Matthew Cavitch, J.D. Tax allocations in a partnership agreement will not be honored if they lack "substantial economic effect." [ IRC § 704(b)(2) ; Treas. Reg. § 1.704-1(b)(1)(I) ] Treasury has defined "substantial economic... Read More

Substantial Economic Effect
Posted on 11 Jun 2012 by LexisNexis Tax Law Community Staff

By Matthew Cavitch, J.D. Tax allocations in a partnership agreement will not be honored if they lack "substantial economic effect." [ IRC § 704(b)(2) ; Treas. Reg. § 1.704-1(b)(1)(I) ] Treasury has defined "substantial economic... Read More

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