Legal updates for: trusts

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The New Section 6501(c)(10) Regulations

by McDermott Will & Emery on

... Internal Revenue Service (IRS) and the U.S. Department of the Treasury recently finalized Treas. Reg. § 301.6501(c)-1(g), which interprets § 6501(c)(10)’s extended limitations period (and other associated rules) where a taxpayer fails to disclose a listed transaction. The Regulation takes an expansive view of the statute and... more

DMCA Advice from the Department of Commerce

by Downs Rachlin Martin PLLC on

... Digital Millennium Copyright Act of 1998 was created to protect copyright owners from infringement of their works (such as photos, documents, music files, and videos) over the Internet. Amongst other things, the DMCA created an exception (“safe harbor”) against monetary copyright liability for “service providers” (broadly,... more

Planning for Incapacity

by McBrayer, McGinnis, Leslie & Kirkland, PLLC on

...While an estate plan has obvious uses - i.e., planning for the disposition of estate assets after the death of a testator - some of the lesser-known benefits of a well-written plan are the provisions that provide for both management of assets and instructions for personal care in the event of incapacity.... more

The ERISA Litigation Newsletter - April 2015

by Proskauer Rose LLP on

... Overview - In this month's Newsletter, Robert Rachal discusses recent "church plan" rulings where some federal judges have declined to give deference to long-standing, consistent guidance from the Internal Revenue Service on the scope of the "church plan" exemption. Robert argues that this lack of deference is... more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

...The Department of Justice unsealed criminal charges against a U.K. trader who is alleged to have contributed to the flash crash almost five years ago. The trader is alleged to have manipulated the market for certain instruments on the CME in Chicago.... more

BSI Provides Road Map For Future Swiss Bank Agreements

by Blank Rome LLP on

...On March 30, 2015, the U.S. Department of Justice announced that it had entered into a nonprosecution agreement with BSI SA, the first Swiss bank to reach resolution with the U.S. government as to its potential criminal exposure for assisting its U.S. clients in engaging in tax evasion. Originally published in Law360 on April 23, 2015. ... more

High Net Worth Family Tax Report, Vol. 10, No. 1

by Loeb & Loeb LLP on

... Case Illustrates Importance of Keeping Legal Entities in Good Standing - A recent United States Tax Court case illustrates the importance of keeping legal entities in good standing. In Medical Weight Control Specialists (TC Memo 2015-52), the taxpayer corporation received a statutory notice of deficiency from the IRS. Upon receipt of such a... more

Law Firm Success: Getting Lawyers to Work Together to Build Your Firm

by Cordell Parvin LLC on

... services guru, David Maister, once wrote an article: Are Law Firms Manageable? He began: After spending 25 years saying that all professions are similar and can learn from each other, I’m now ready to make a concession: Law firms are different. He then identified why law firms are different: Among the ways that legal training and practice... more

2015 Federal Budget – Selected Tax Measures

by Blake, Cassels & Graydon LLP on

... April 21, 2015, the Minister of Finance presented Canada’s long-awaited 2015 Federal Budget (the 2015 Budget). The 2015 Budget includes a number of taxpayer-friendly measures, including limited relief from Canadian source withholding requirements for some non-resident employers, extension of accelerated tax depreciation rates for machinery... more

Bridging the Week - April 2015 #3

by Katten Muchin Rosenman LLP on

... Commissioner Bowen Argues for User Fees During House Subcommittee Hearing; Commissioner Wetjen Calls for Bankruptcy Law Amendments to Permit Individual Segregation of Customer Funds - Commodity Futures Trading Commissioner Sharon Bowen argued for granting authority to the CFTC to impose user fees on certain industry participants, during a... more