William M. Doyle, Lawrence M. Kern, and Eric C. Nelson joined Greenberg Traurig, LLP as shareholders in Chicago, with the intent to utilize the firm’s deep U.S. and
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IRS Announces Revisions to the Application Form for Voluntary Disclosures with New Provisions for Cryptocurrency, Employment Tax, and Estate, Gift and Generation-Skipping Transfer Tax
On Feb. 15, 2022, the IRS announced revisions to Form 14457, the Voluntary Disclosure Practice Preclearance Request and Application. The longstanding Voluntary Disclosure Practice is a way for taxpayers who
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SECURE Act Accelerates Timing of Required Minimum Distributions to Beneficiaries Under Qualified Plans and IRAs
The Further Consolidated Appropriations Act, 2020, signed into law Dec. 20, 2019, includes a division that is known as the SECURE Act,1 which made major changes to the required minimum
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Applicable Federal Rates and Code Section 7520 Rate for January 2019 – Generally Trending Down
The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and the Code Section 7520 rate (7520 rate) for a particular month
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Federal Individual Gift, Estate, and GST Exemptions Increase to $11.4 Million in 2019
IRS announces the 2019 inflation-adjusted figures for gift and estate tax exemption amounts.
The federal gift, estate, and GST exemption amount ( the exemption amount) is the total amount
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New Jersey Tax Amnesty
Just in time for the holidays, the New Jersey Division of Taxation announced a tax amnesty program. Taking a “carrot and stick” approach, the Division of Taxation said that it
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Applicable Federal Rates and Code Section 7520 Rate for November 2018 – Trending Up
The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and the Code Section 7520 rate (7520 rate) for a particular month
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Applicable Federal Rates and Code Section 7520 Rate for September 2018 – Trending Up Again
The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and Code Section 7520 rate (7520 rate) for a particular month are published by the Internal Revenue Service
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Applicable Federal Rates and Code Section 7520 Rate for July 2018 – Upward Trend Continues
The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and the Code Section 7520 rate (7520 rate) for a particular month are published by the Internal Revenue Service (IRS) in a Revenue Ruling that is released around the 18th day of the immediately preceding month. Advance knowledge of the rates for the future month provides a window of opportunity for the quick or delayed implementation of income, gift, and estate-tax planning techniques in response to upward or downward trends. The effective implementation and management of interest-sensitive estate planning techniques also involves numerous other factors in addition to the relevant AFR or 7520 rate, including a client’s particular circumstances and should be undertaken with the advice of competent tax counsel and financial advisors.
The IRS has issued Revenue Ruling 2018-19, which provides the AFRs and 7520 rate for July 2018. Revenue Ruling 2018-19 will be in Internal Revenue Bulletin 2018-27, dated July 2, 2018.
Whistleblower Claims Taxpayer Avoided New York Estate Tax on Change of Domicile to Florida
He may be dead but his troubles are not over. In a unique Qui Tam case under the New York False Claims Act, the failure to file a New York
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