Read Tax Law news, alerts, and legal commentary from leading lawyers and law firms:
Hot Topics for Waste-to-Energy Investors and Developers
Monitor Thy Drink: Alcohol Import Regulations Under the TTB (Alcohol and Tobacco Tax and Trade Bureau)
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The Corporate Law Report: First-to-File Patents, Hiring for Cultural Fit, Roth Conversions Post-Fiscal Cliff, and Global Corporate Insights
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Micah Green on U.S. Fiscal Policy
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How Do We Pay For Lower Corp Tax Rates?
Polsinelli Shughart Election Analysis and Legal Insight
Why choose Bennett Jones for your Canadian Cross-Border Income Trust (CBIT)?
What are the tax benefits of a Canadian Cross-Border Income Trust (CBIT)?
Why choose Canada for a Cross-Border Income Trust (CBIT)?
What is a Canadian Cross-Border Income Trust (CBIT)?
Bill on Bankruptcy: Solyndra, Lehman, MF Global, ATP Oil, LSP Energy, Want Ads
Should you Opt-Out of the Voluntary Disclosure Program?
Weekly Brief: CFPB, Legal Fees & Hashtag Hijackers
Cost of Voluntry Asset Disclosure Program
President’s fiscal year 2014 budget contains numerous tax provisions -
President Barack Obama released his proposed budget for the government’s fiscal year 2014 on April 10, 2013, and, not surprisingly, the budget...more
This article discusses the use of private placement products - private placement deferred variable annuities (PPVA) and private placement life insurance (PPLI)- in post mortem income tax and transfer tax...more
A bipartisan group of 11 legislators have proposed an overhaul of Maine’s tax system, including major changes to the individual and corporate income tax, property tax, sales tax, and estate tax. ...more
If a taxpayer owns appreciated property and transferors it to another, and that successor owner sells the property, the gain from the sale is reportable by the successor owner, not the donor. However, if the gift occurs too...more
When private equity or venture capital fund principals and managing partners look to roll out a new fund, in addition to reconciling general fund formation issues, they should consider the personal-planning opportunities...more
Code §2703 severely restricts the ability of a buy-sell agreement to control estate tax values in a closely held entity. A recent private letter ruling reminds us that older agreements are not subject to Code §2703....more
One of the most difficult issues facing the owner of any successful business is how the business, or the personal wealth that it represents, can be preserved for the benefit of his or her family after death. While it is...more
Budget 2013 was tabled on March 21, 2013. Heenan Blaikie’s National Tax Group has prepared the following overview of some of the more significant tax-related measures....more
High net worth and income taxpayers find themselves in a world of hurt following tax reform at the end of 2012. The top marginal bracket for taxpayers with more than $400,000 (single and $450,000 married)...more
In the wake of a series of scandals involving U.S. taxpayers sheltering their assets from the reach of the U.S. Internal Revenue Service (IRS), Congress enacted the Foreign Account Tax Compliance Act (FATCA) on 18 March 2010...more
In This Issue:
- The spousal lifetime access trust: A safety net in uncertain times
- Be prepared for a triggering event: If you own interests in a closely held business, consider a buy-sell agreement
- Is your...more
Life insurance policies can be great vehicles for income tax deferral. Part of this arises from the fact that earnings growth that occurs inside the policy is not subject to current income tax (and may never be taxed if the...more
On Wednesday, October 24, 2012 the Canadian Federal Department of Finance tabled in the House of Commons a large detailed Notice of Ways and Means Motion (“NWMM”) to amend the Income Tax Act (Canada) and a variety of other...more
McGovern & Greene's Advocate's Edge publication provides attorneys and their clients with valuable resource guides that offer information related to litigation issues....more
Certain life insurance, such as whole life, carries a cash value with the policy. The premiums you pay each month go towards a certain amount of coverage for your beneficiaries when you die. In addition, a certain portion of...more
The Rhode Island General Assembly recently passed the “2012 Rhode Island Tax Amnesty Act" which was promptly signed into law by the Governor on June 15, 2012. The Amnesty Act authorizes the Rhode Island Division of Taxation...more
Every time I’m presented with a contract, I’m quickly transported to a small room in which Willy Wonka, played by Gene Wilder, is vehemently scolding the good natured Charlie Bucket and the poor, protective Grandpa Joe:
Overview of Fideicomisos
If you own a home or a vacation home in Mexico, chances are that your property is held in a fideicomiso. A fideicomiso is a contractual arrangement that is arguably something in between a trust...more
Originally published in Journal Of Taxation Of Investments - Summer 2012.
Although no one can predict what Congress will do at any point, it is quite likely we will see higher income tax rates in the near future, along...more
A New Tax System (Goods and Services Tax) Amendment Regulation 2012 (No. 1) introduces changes that will take effect on 1 July 2012.
Under current law it is possible for trustees to have single fee trustee arrangements...more
Procrastination on Estate Planning Can Land A Small Business in Probate Court
By Frank L. Brunetti on May 14th, 2012
Many business owners hope that the companies they have built will outlive them and help build a...more
In This Issue: SALES OF DEALERSHIPS: 2012 and FEDERAL ESTATE AND GIFT TAX UPDATE.
Excerpt from SALES OF DEALERSHIPS: 2012
Good News and Bad News
The good news is that there are now buyers for vehicle...more
An interesting circumstance often shows up with lottery winners. After they have won, it seems that a very high percent of them had arrangements in place before they bought their lottery tickets to share their winnings with...more
Proving that celebrities are not above the law, the IRS recently served rapper Lil’ Kim with a tax lien for allegedly dodging more than $1 million in taxes.
While it is celebrity tax stories that most often make the...more
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