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Personal Representative Liable for Unpaid Federal Income Taxes

The recent Pennsylvania District Court case of U.S. v. David A. Tyler and Louis J. Ruch [ enhanced version available to lexis.com subscribers ] is designed reminds estate executors ( Florida Personal Representatives ) that if they fail to do their job right, they can incur personal liability for the...

New IRS Regulations For Estates and Trusts

The IRS has issued final regulations ( T.D. 9582 ) requiring that a provision in a trust, will, or local law that specifically indicates the source out of which amounts are to be paid, permanently set aside, or used for a charitable purpose must have an independent economic effect aside from income tax...