by admin | Nov 5, 2021 | Tax
The Treasury has put out a Fact Sheet on the scaled down bank disclosure reporting requirements currently under consideration – Tax Compliance Proposals Will Improve Tax Fairness While Protecting Taxpayer Privacy. The proposal appears quite...
by admin | Oct 25, 2021 | Tax
A provision of the Build Back Better Act threatens to louse up a lot of life insurance plans. The problems is in the provision titled “Special Rule for For Grantor Trusts”. In many ways it is a sensible provision doing away with shenanigans that clever...
by admin | Oct 20, 2021 | Tax
Kent Hovind’s half-billion dollar lawsuit against the United States and various individuals implicated in his nearly decade long imprisonment appears to be totally done. But that’s currently the least of his legal problems. On September 21, Judge Clinton...
by admin | Oct 11, 2021 | Tax
One of the most exciting provisions of the Build Back Better Act, to me anyway, is the opportunity that it gives for a tax free conversion to partnership for some S corporations. There may be some people who don’t find this exciting thinking that partnerships...
by admin | Oct 5, 2021 | Tax
The revenue portion of the Build Back Better Act (BBB) that is moving along dramatically changes the landscape for transfer taxes (i.e. gift and estate). Accelerating the scheduled reduction in the unified credit from $10 million to $5 million (indexed for inflation...
by admin | Oct 1, 2021 | Tax
The proposed tax legislation coming out of House Ways and Means addresses a long running dispute between sponsors of low income housing tax credit deals and investors. The legislation favors the sponsors. To understand the issue I need to briefly explain how the...
