January 1, 2024 is quickly approaching and it will be a milestone for small businesses and their owners. Why? Because it is the effective date of the Corporate Transparency Act (the “Act”) – historic legislation that requires...more
$50,000 or $2.72 million? Those are the penalty amounts for the non-willful failure to timely file to report foreign financial accounts at issue in U.S. v Bittner, which will be argued before the U.S. Supreme Court in...more
10/6/2022
/ Beneficiaries ,
Dual Citizenship ,
Failure to Report ,
FBAR ,
Foreign Bank Accounts ,
Foreign Financial Accounts ,
Grantor Trusts ,
IRS ,
Mutual Funds ,
SCOTUS ,
Trustees
“Insurance.” The word itself evokes different reactions. The range of emotions expands when we mention “life insurance.” And if we add, trust – “life insurance trust” – you may just stop reading. But don’t. Now is exactly the...more
5/4/2021
/ Estate Planning ,
Estate Tax ,
Exclusions ,
Inflation Adjustments ,
Insurance Industry ,
Irrevocable Trusts ,
Life Insurance ,
Tax Code ,
Tax Planning ,
Trustees ,
Trusts