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Time To Change Your Estate Plan – Again

Time To Change Your Estate Plan – Again

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...
IRS Hangs Tough On Conservation Easements

IRS Hangs Tough On Conservation Easements

The IRS Chief Counsel has signaled with CCA 202130014 that the Service will be continuing its hard line on conservation easements.  The engine of every abusive syndicated conservation easement is a vastly inflated appraisal.  Rather than focus on the appraisal issue,...
Did IRS Robots Cause The Tax Court Petition Flood?

Did IRS Robots Cause The Tax Court Petition Flood?

Recently I was puzzling about how it could be that the Tax Court had by mid-August received more petitions than it had in total in each of the past three years.  Had I not had the good fortune to retire from active practice in 2018, I might have known. There is a good...