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LexisNexis Tax Advisor-Federal Topical: Taxation of Life Insurance and Death Benefits

Revenue Procedures mitigate life insurance contract deficiencies that would otherwise expose life insurance proceeds to taxation. Click here to access our sample discussion of Taxation of Life Insurance and Death Benefits : (PDF) Exclusively from LexisNexis...

Will Yancey, CPA
California Audit Procedures and Demands for Records Intensify

The California Board of Equalization (BOE) staff and state Assembly are considering proposals that would significantly tighten the business tax audit requirements. The discussion paper for Proposed Regulation 1698.5 includes a requirement to complete...

W. Roderick Gagne and Lisa B. Petkun
Philadelphia Business Privilege Tax as Applied to Nonprofit Organizations

In early January 2009, the City of Philadelphia issued Proposed Regulations amending the Philadelphia Business Privilege Tax (BPT) as applied to nonprofit organizations. The Proposed Regulations broaden the definition of a "business" for purposes...

Stephanie Rapkin
Safety Net Derived from Creation and Design of Grantor Trusts

Creating a grantor trust for clients is the cornerstone of an estate planning practice. A grantor trust is a trust over which the grantor retains either direct or indirect control to such an extent that he or she is treated as the owner of the trust for...

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Susan Hughes
THE EMPIRE STATE STRIKES BACK ON E-TAILER SALES TAX REPORTING!

When will a state consider an e-tailer to be in the nature of an in-state retailer for purposes of collecting sales tax from customers? Tim Noonan of Hodgson Russ, LLP in New York has important insights to share in a Tax Law Podcast interview, coming...

Bobbi Halpin
Innocent Spouse Relief: Is Alioto a Change in IRS Position on Equitable Relief?

This Emerging Issues Analysis discusses the current state of innocent spouse relief and the impact of the prominent case of Alioto v. Commissioner, where the Tax Court vacated its previous dismissal of spousal relief and ruled in plaintiffs favor. The...

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