Newsletters

Steven J. Hare - UK Government Publishes Consultation Response and Final Regulations Relating to the Trust Registration Service Steve Leimberg's International Tax Planning Newsletter Issue:34    13-Aug-20

Jim Weller: Economic Substance Requirements In Offshore Jurisdictions Steve Leimberg's International Tax Planning Newsletter Issue:33    12-Aug-20

Sandra Glazier on Estate of Mary P. Bolles v. Commissioner: Loan, Gift and/or Advancement Steve Leimberg's Estate Planning Newsletter Issue:2814    11-Aug-20

Alan S. Gassman, Jerome B. Hesch & Martin B. Shenkman on the Biden 2-Step for Wealthy Families: Why Affluent Families Should Immediately Sell Assets to Irrevocable Trusts for Promissory Notes Before Year-End and Forgive the Notes If Joe Biden Is Elected, A/K/A What You May Not Know About Valuing Promissory Notes and Using Lifetime Q-Tip Trusts Steve Leimberg's Estate Planning Newsletter Issue:2813    10-Aug-20

Finance 8.8.2020 Bob LeClair's Finance and Markets Newsletter Issue:1063    09-Aug-20

Steve Leimberg - Review of Planning for Ownership and Inheritance of Pension and IRA Accounts and Benefits in Trust or Otherwise After the Secure Act: The Estate Planner's IRA/Pension Planning Guide Steve Leimberg's Estate Planning Newsletter Issue:2812    07-Aug-20

Actual Text

PLR 202033008 (18 May 2020) IRS Denies Request for Waiver of IRA Rollover Requirement
updated:14-Aug-20

Alka Sham v. Commissioner, No. 10531-17, T.C. Memo. 2020-119 (12 August 2020) Failure to Substantiate Results in Denial of Deductions; Accuracy-Related Penalty Applies
updated:14-Aug-20

PLR 202033007 (26 March 2020) IRS Grants Company Extension of Amortization Period for Defined-Benefit Plan
updated:14-Aug-20

PLR 202033005 (13 May 2020) IRS Rules on Tax Consequence of Proposed Transaction Involving S Corporation and ESBT
updated:14-Aug-20

PLR 202031008 (7 May 2020) IRS Looks at Tax Consequences of Receipt of Nonqualified Deferred Annuity
updated:14-Aug-20

Estate of Forrest E. Mars Jr. et al. v. Commissioner, No. 7104-20 (18 July 2020) Heirs to Mars Candy Estate File Petition Challenging IRS Estate & Gift Tax Assessment
updated:13-Aug-20

Instant Audio and Podcasts

60 Second Planner

PLR 202031008 -- Tax Treatment of Annuities Held in Trust
updated:13-Aug-20

Executive Action Deferring Payroll Taxes
updated:10-Aug-20

Seril -- Income Tax and Penalty on Early Withdrawal from IRA
updated:07-Aug-20

Podcasts

Keebler on 2020 Year-End Tax Planning
updated:13-Aug-20

Keebler and Blattmachr on the Basis of IDGT Assets at Death
updated:25-Jul-20

Video Podcast: Keebler and Shenkman on the PPP Flexibility Act
updated:05-Jun-20

Bob Keebler and Chris Hesse on IRC Section 461(l) and the CARES Act
updated:16-May-20

Bob Keebler and Mark Fichtenbaum: Tax Planning in a Volatile Market with Low Interest Rates
updated:06-May-20

Keebler on Roth Conversions in a Volatile Market
updated:25-Apr-20

Bob Keebler and Ed Slott on RMDs Under the CARES Act
updated:15-Apr-20

Bob Keebler and Jason Early on the Cavallaro Case
updated:19-Mar-20

BlogWatch

SBA Publishes Procedures for Appeal of Adverse Decisions on PPP Loans
12-Aug-20

Guidance on Interaction of EIDL and PPP Loan Forgiveness
12-Aug-20

August 31 Deadline Looms for Repayment of 2020 RMDs
12-Aug-20

Mnuchin Suggests Payroll Tax Deferral Will Be Up To Employers: We Can’t Force People To Participate
12-Aug-20

Preserving Capital Losses At Death By Gifting Embedded Loss Assets To Avoid A Step-Down In Basis
12-Aug-20

Can The IRS Even Implement Payroll Deferral?
11-Aug-20

Trusts as IRA Beneficiaries Add Complications
10-Aug-20

Questions Raised by the Payroll Tax Executive Order
10-Aug-20

IRS Sends Second Wave Of Soft Letter Warnings To Certain Captive Owners For Abusive Microcaptive Transactions
09-Aug-20

Journals
(Due to Copyright Restrictions, LISI is not able to provide Reprints of these articles)

The Uniform Basis Rules and Terminating Interests in Trusts Early
Lad Boyle Howard M .Zaritsky and Ryan Wallace - Real Property, Trust, and Estate Law Journal

BDIT 2701: Avoiding Section 2701 By Selling Carried Interest Directly To Beneficiary Defective Inheritor's Trust
Joe Higgins and Angelo F. Tiesi - Estate Planning

Trusts In Wealth Preservation—Not Only For The Super Rich
Louis A. Silverman - Estate Planning

Why Billionaires Acquire Life Insurance
Richard L. Hartmann - Estate Planning

IRS Issues New Guidance on Tax Treatment of Cryptocurrencies
Roger W. Dorsey, Kyleen Prewett and Gaurav Kumar - Estate Planning

Web Links

Broken Promises: Employer Certification Failure -- SBPC and AFT
This report, authored by the Student Borrower Protection Center and the American Federation of Teachers, chronicles the history of the Public Service Loan Forgiveness Program and describes problems that have plagued its operation.

Guides for Court-Appointed Guardians -- CFPB
From the Consumer Financial Protection Bureau, Managing Someone Else's Money guides for those appointed by a court to be guardians of property or conservators, giving them the duty and the power to make financial decisions on someone’s behalf. National guides in English and Spanish and six state-specific guides.

Update to Where-To-File Address for Form 8971 -- IRS
Updated as of August 6, 2020.

Akers ACTEC 2020 Annual Meeting Musings -- Bessemer Trust
Various seminars at the ACTEC 2020 Annual Meeting are summarized. Topics include: litigation issues, DNA testing effects, SECURE Act, pre-mortem probate, UPMIFA, well-being for planners, unconscious bias, foreign person as trustee, transfer planning, attacks on privacy by collection of personal information, and hot topics.

Form 1127 Filing Address To Request Extension of Form 709 Gift Tax Payment Has Been Updated -- IRS
This announcement supplies a new address replacing the filing address on page 3 of Form 1127 (Rev. December 2011) for Form 1127 when the tax due is a gift tax reportable on Form 709.