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S Corp To Partnership Conversion Under Build Back Better

S Corp To Partnership Conversion Under Build Back Better

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...
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,...