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

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

To Encourage Investment, Small Business Jobs Act Includes Short-Term Full Exclusion from Gross Income of Gain from QSBS
Posted on 8 Nov 2010 by Pepper Hamilton LLP

By Julia D. Corelli and Laura D. Warren On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (H.R. 5297), which included among many other provisions, a short-term 100 percent exclusion (subject to per... Read More

Proposed Changes to Section 1202 Seek to Introduce a Temporary Full Exclusion for Gain from Disposition of Certain Small Business Stock
Posted on 16 Apr 2010 by Thomas W. Giegerich and Kumar Paul

The proposed changes to the Internal Revenue Code section 1202 could increase interest in investments in small business stock. Section 1202 of the Internal Revenue Code provides a special partial exclusion from gross income for individual taxpayers... Read More

McDermott Will & Emery: Another Federal Court of Appeals Weighs in on the Applicability of the Six-Year Statute of Limitations Period to an Overstatement of Basis
Posted on 9 Aug 2011 by McDermott Will & Emery

By Gale E. Chan , Jon Finkelstein and Patrick J. McCurry The U.S. Court of Appeals for the D.C. Circuit recently reversed two U.S. Tax Court decisions and held that an overstatement of basis constitutes an omission from gross income that is subject... Read More