News & Analysis as of

Portability

EU Regulation on Cross-Border Portability of Online Content Services in Force

by Reed Smith on

After publication in the Official Journal of the European Union, Regulation (EU) 2017/1128 of the European Parliament and of the Council of 14 June 2017 on cross-border portability of online content services in the internal...more

DSM Watch: On your marks! Deadline for EU online Portability Regulation compliance is 20 March 2018

by Hogan Lovells on

In our 21 June blog we reported that the text of this, the first legislative proposal published by the Commission under the Digital Single Market strategy banner, had been finalised by the European Parliament and Council. ...more

IRS Grants Taxpayers Two-Year Window to File Portability Election

by Bryan Cave on

In a long-awaited move, the IRS announced recently that taxpayers will now have at least two years to file an estate tax return to elect portability of a decedent’s unused estate tax exemption to the decedent’s surviving...more

IRS Provides Automatic Extension to Make Portability Election (Under Some Circumstances)

by Charles (Chuck) Rubin on

A portability election by the estate of a first spouse to die allows the unused unified credit of the first spouse to be used by the surviving spouse for estate and gift tax purposes. Since Code §2010(c)(5)(A) requires the...more

IRS issues Rev. Proc. 2017-34 to Extend Time to Make Portability Election

by Dickinson Wright on

For individuals dying after December 31, 2010, Section 2010(c) of the Internal Revenue Code provides that the unused estate tax exemption of the first deceased spouse is “portable” between spouses at death. Under this law, a...more

The European General Data Protection Regulation in the Dutch workplace

by Dentons on

The European General Data Protection Regulation (the 'Regulation') will take effect on 25 May 2018. The Regulation will replace the current European Data Protection Directive of 1995. The Dutch Data Protection Act (locally...more

DSM Watch: EU online content services Portability Regulation will become law in its current form: Council adoption 8 June 2017

by Hogan Lovells on

DSM Watch has been tracking this, the first legislative proposal published by the Commission under the Digital Single Market strategy banner, since back in December 2015.  The Commission’s aim was to allow consumers who pay...more

Estate Administration Update: A Simplified Procedure for the Portability Election

by Williams Mullen on

Recently, the IRS issued Revenue Procedure 2017-34 (the “Revenue Procedure”), providing a simplified process for certain estates requiring an extension of time to make a portability election under § 2010(c)(5)(A) of the...more

Update AVGB: Rechten van betrokkenen (inzage, rectificatie en overdraagbaarheid) (Dutch)

by Dentons on

When processing personal data, organisations are obliged to inform data subjects on their rights. As set out in our previous GDPR Update, the introduction of the GDPR substantially affects the existing information obligation...more

GDPR Update: Rights of Data Subjects (access, rectification and portability)

by Dentons on

As a follow-up to last month’s update in this June edition of the GDPR Update, we again discuss certain data subjects’ rights. This time we will go into the right to access, rectification and data portability....more

IRS Simplifies Ability To Obtain Late Portability Election Relief

by Cole Schotz on

On June 9, 2017, the Internal Revenue Service issued Revenue Procedure 2017-34, which is effective immediately and provides a simplified method to obtain permission for an extension of time under Reg. 301.9100-3 to file Form...more

Court Orders Administrator To Elect Portability

by Bryan Cave on

When the IRS enacted the portability election provisions in 2011, which allowed estates of married taxpayers to pass along the unused part of their estate and gift tax exclusion amount to their surviving spouse, it remarked...more

Late Portability Election Denied for Estate That Was Over the Estate Tax Return Filing Threshold

by Genova Burns LLC on

One of the key changes of the 2010 Tax Relief Act is the addition of “portability” of the first deceased spouse’s unused basic exclusion amount, commonly referred to as the deceased spousal unused exclusion amount. Under...more

Employee Benefits Legislation Proposed (But Not Passed) by the Obama Administration

by Jackson Walker on

In February of 2015, the Department of Treasury issued a reported entitled “General Explanation of the Administration’s Fiscal Year 2016 Revenue Proposals” (the “General Explanation”). The General Explanation is several...more

DSM Watch: European Commission's data package explores data ownership, localization, liability and portability, highlighting...

by Hogan Lovells on

On January 10, 2017, the European Commission released a Communication, a fact sheet, a working document and a public consultation relating to Europe’s “data economy”. The fact sheet states that “data is a new type of...more

Wealth Management Update - December 2016

by Proskauer Rose LLP on

December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Personal Planning Strategies - December 2016

by Proskauer Rose LLP on

2017 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent:...more

CIS Announces New Rule Impacting Employment-based Nonimmigrants and Immigrants

by Moore & Van Allen PLLC on

USCIS has published a final rule focused on the retention of EB-1, EB-2, and EB-3 immigrant workers and the improvement of existing temporary visa programs for high-skilled nonimmigrant workers. The new rule takes effect on...more

Department of Homeland Security (DHS) Publishes Final Rule Improving Certain Employment-Based Immigrant and Nonimmigrant Visa...

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Employers and foreign nationals should take note of critical changes to DHS’ regulations impacting employment-based immigration for highly skilled workers. On January 17, 2017, the Department of...more

2016 Year-End Estate Planning Advisory

by Katten Muchin Rosenman LLP on

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

No Later Voiding of Unnecessary QTIP Elections if Portability Elected

by Charles (Chuck) Rubin on

Please see chart below for more information....more

Changes to EU Privacy Law: the General Data Protection Regulation

by Dechert LLP on

On 27 April 2016, following a prolonged legislative process over some four years, the European Council and Parliament finally adopted a new data protection law: the General Data Protection Regulation (GDPR). The GDPR was...more

Portability is a thoroughly modern estate tax break

Computers and phones aren’t the only things that are portable today. The gift and estate tax exemption is also “portable” for married couples. Portability simplifies estate planning by allowing a surviving spouse to use the...more

Insight on Estate Planning -June/July 2016

Portability is a thoroughly modern estate tax break - Computers and phones aren’t the only things that are portable today. The gift and estate tax exemption is also “portable” for married couples. Portability simplifies...more

The EU Adopts the General Data Protection Regulation

In April of this year, the European Union (“EU”), adopted the General Data Protection Regulation (“GDPR”), a regulation intended to strengthen data protection for individuals residing in the European Union. The GDPR provides...more

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