Taxes

The Rich Get Ready for Higher Taxes Under a President Clinton

Tue, 25 Oct 2016 15:27:00 +0000

Ben Steverman

For wealthy Americans, a big win by Hillary Clinton on Nov. 8 could get pretty expensive.

Tax Law Update: November 2016

Mon, 24 Oct 2016 15:42:00 +0000

David A. Handler and Alison E. Lothes highlight the most important tax law developments of the past month

New Jersey Repeals Estate Tax

Fri, 21 Oct 2016 19:10:00 +0000

New law signed on Oct. 14

The legislature approved the repeal on Oct. 7, and the governor signed the act into law on Oct. 14.

Inherited IRA Distributions Treated as Taxable

Thu, 20 Oct 2016 18:58:00 +0000

Funds paid directly to a non-spouse beneficiary aren’t eligible for rollover

The IRS explained its treatment of two individual retirement accounts that a taxpayer’s deceased father had set up.

IRS Releases November 2016 Interest Rates

Thu, 20 Oct 2016 05:49:00 +0000

The 7520 rate for November 2016 has remained at 1.6%.

New Jersey Proposes Estate Tax Repeal

Mon, 17 Oct 2016 20:40:00 +0000

The savings will be significant

Under the proposal, the exemption is to increase to $2 million for the year 2017, and the estate tax is to be repealed beginning in 2018.

Buffett Scolds Trump on Taxes, Discloses 2015 Return Data

Tue, 11 Oct 2016 14:14:00 +0000

Noah Buhayar and Lynnley Browning

On Monday, the billionaire Berkshire Hathaway Inc. chairman released information from his personal taxes and challenged the Republican presidential candidate to do the same.

Estate Tax Deduction for Losses Caused by Bernie Madoff Ponzi Scheme

Fri, 07 Oct 2016 18:16:00 +0000

The Tax Court’s decision in Heller provides rare jurisprudence on IRC Section 2054

In Estate of Heller, the Tax Court addressed a question of first impression: whether an estate may take a theft loss that befell property it didn’t hold directly.

Trump’s Tax Strategy Seen Turning Unpaid Debt Into Benefit

Fri, 07 Oct 2016 12:59:00 +0000

Lynnley Browning

As evidenced in his partially discovered tax returns, Donald Trump may have used a strategy that allowed struggling real-estate investors to turn unpaid debts into personal tax breaks.

Congressional Action May Undercut Proposed 2704 Regulations

Fri, 07 Oct 2016 10:00:00 +0000

Ashley Thompson

Republicans in the House of Representatives and the Senate have introduced bills to derail the Proposed Regulations under Section 2704 of the Internal Revenue Code.