On July 2, 2019, the North Carolina Department of Revenue issued a notice setting December 21, 2019, as the deadline for certain taxpayers to file amended returns or tax refund claims based on the U.S. Supreme Court decision...more
7/10/2019
/ Beneficiaries ,
Due Process ,
Estate Tax ,
Exclusive Control ,
Forum State ,
In-State Beneficiaries ,
Income Taxes ,
Minimum Contacts ,
North Carolina Department of Revenue v The Kimberley Rice Kaestner 1992 Family Trust ,
SCOTUS ,
State Taxes ,
Trustees ,
Trusts
On June 24, 2019, Connecticut enacted HB 7104, adopting the Uniform Trust Act. One important provision of the act was the “Connecticut Qualified Dispositions in Trust Act,” permitting the establishment of self-settled...more
On April 9, 2019, the Indiana Legislature enacted S.B. 265 to amend the Indiana Code concerning trusts and fiduciaries. The Indiana governor signed the act May 5. One important provision of the act was the addition of a new...more
On April 16, 2019, the U.S. Supreme Court heard arguments in Kaestner v. North Carolina Department of Revenue. The case will address the extent of the state’s authority to tax the income of certain trusts. The trustees of the...more
In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following:...more
In the first sentence of his master work on families, Anna Karenina, Leo Tolstoy wrote, “Happy families are all alike; every unhappy family is unhappy in its own way.” The passing of another great artist, Aretha Franklin, who...more
In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: -
In re...more
The IRS and executors have settled two cases in the United States Tax Court involving members of the Woelbing family, who own Carma Laboratories, Inc., of Franklin, Wisconsin, the maker of Carmex skin care products, and a...more
4/4/2016
/ Defined Value Gifts ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Installment Agreements ,
IRS ,
Stocks ,
Tax Court ,
Tax Penalties ,
Trusts ,
Valuation