President Trump issued Executive Order 13789 on April 21, 2017 (the “EO,” available here) directing the Secretary of the Treasury to review all “significant” tax regulations issued after December [...]
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Estates with values of less than $5.49 million that didn’t timely elect portability get temporary relief from IRS. The portability rule allows a married decedent’s unused estate tax exemption to [...]
Taxpayers making charitable contributions face many requirements, including the contemporaneous written acknowledgement. The Internal Revenue Code imposes additional requirements for [...]
The Internal Revenue Service, along with state tax authorities are cautioning businesses to beware of an email phishing scam using a corporate officer’s name asking for employee W-2 forms from [...]
The United States Tax Court has again sided with the Internal Revenue Service in disallowing a charitable contribution because there was no contemporaneous written acknowledgement from the [...]
President-elect Donald Trump has proposed cutting the top marginal income tax rate to 33% as well as eliminating the 3.8% net investment income tax. Mr. Trump has also proposed an overall cap on [...]
If you are 70 1/2 or older and subject to required minimum distributions from your IRA, consider using Rollover Required Minimum Distributions up to $160,000 to make charitable gifts. You must [...]
Effective January 1, 2017, Congress implemented critical changes to Section 831(b) of the United States Tax Code when it passed the Protecting Americans From Tax Hikes Act of 2015 (“PATH”) as [...]
The IRS has recently committed substantial audit resources toward small and mid-market companies that are involved with or have formed captive insurance companies under Section 831(b) of the [...]
Pennsylvania is offering a tax amnesty program. Act 84 of 2016 authorized the Pennsylvania Department of Revenue to administer a Pennsylvania Tax Amnesty Program. The Amnesty period will run from [...]
