Who’s Accountable?
Hopefully, if you’re a nonprofit organization, you are! Check out the latest checklist for nonprofit accountability here.
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NY Times Takes A Stab
There is an interesting OpEd piece (free registration required) in today’s New York Times which critiques Senator Kyl’s plan for tweaking the federal estate tax. The basic gist of the piece is that the modified plan is overly generous and would be worse than passing a complete repeal of the tax. Hmm.
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A Little Trust Is All You Need
Talk about a walking advertisement for trust law… A German man won almost $1 million in the lottery and promptly spent most of it. Embarrassed, he turned to burglary rather than confess to the welfare office that he had no winnings left. He has now admitted to at least 60 offenses. Totally unbelievable? Not really. I had…
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The Wait Goes On
Senator Majority Leader Bill Frist put off the vote on making permanent the federal estate tax repeal until after the summer break. You may recall that I previously reported that the Senate did not have the necessary votes for the bill but had vowed to call a vote nonetheless prior to the break, perhaps symbolically. Well,…
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PA Tax Data
From the Pennsylvania Revenue Department: REVENUE DEPARTMENT RELEASES JULY COLLECTIONS HARRISBURG: Secretary of Revenue Gregory C. Fajt today reported that the state collected $1.7 billion in General Fund revenue in July, the first month of the 2005-2006 fiscal year. Sales Tax receipts totaled $781.5 million; Personal Income Tax revenue was $635.8 million; and Corporation Tax…
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SSSSSSS……
Is that the sound of the air being let out of the tires of the growing trend towards S corporations? Perhaps. The IRS announced plans on Monday, July 25, to randomly audit 5,000 S Corporation returns (federal forms 1120S) this year as part of a study to “assess compliance.” In IRS speak, that means that…
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What? No Tax Lawyers?
It’s true. David Kelley’s new reality TV show, The Law Firm, doesn’t have any tax or estates lawyers participating. Thanks to Paul Caron over at Tax Prof Blog (Celebrity Tax Lore) for pointing that out.
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A Symbolic Gesture
In what can only be considered an attempt to make a statement, a handful of Senators is introducing a new bill to make the federal estate tax repeals permanent. Those Senators have admitted that they are several votes short of those needed to be successful; nonetheless, the Boston Globe has reported this morning that the…
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A Long & Strangi Road
On July 15, 2005, the Fifth Circuit released a decision in the Strangi case affirming the Tax Court’s decision to include family limited partnership assets in the decedent’s taxable estate. This latest ruling, referred to as Strangi V, is the last (?) in a long list of cases involving the Strangi family and creation of…
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Welcome To My Blog!
Welcome to my blog, dedicated to trusts, estates and taxation.
