IRS issues new guidance for green energy tax credits 
Published: May 6, 2013
Tags: American Taxpayer Relief Act, green energy, renewable energy, tax credits, taxation
The Internal Revenue Service has issued new guidelines for determining when construction has begun on a renewable energy facility in order for a taxpayer to become eligible for certain tax credits created under last year’s American Taxpayer Relief Act.
TAXATION
Published: March 25, 2013
Tags: taxation, U.S. Supreme Court
Does the Internal Revenue Code’s penalty for an underpayment of federal income tax that is “attributable to” an overstatement of basis in property apply to an underpayment resulting from an IRS determination that a transaction lacks economic substance?
Court to decide if tax penalty applies to underpayment
Published: March 25, 2013
Tags: taxation, U.S. Supreme Court
The U.S. Supreme Court will decide whether the Internal Revenue Code’s penalty for an underpayment of federal income tax that is “attributable to” an overstatement of basis in property applies to an underpayment resulting from an IRS determination that a transaction lacks economic substance.
Taxpayer could deduct ‘family support’ payments
Published: March 15, 2013
Tags: alimony, child support, taxation
A divorced taxpayer could treat family support payments made while his divorce was pending as deductible alimony, the U.S. Tax Court has ruled in reversing a $7,750 deficiency assessment.
Estate can’t sue lawyer for negligent tax planning
Published: March 13, 2013
Tags: estate planning, legal malpractice, taxation
The administrator of a client’s estate could not maintain a legal malpractice action for alleged negligent estate planning that resulted in increased tax liability, the Kansas Supreme Court has ruled in affirming judgment.
Higher tax rates on trust income mean more work for lawyers
By:
Sylvia Hsieh
Published: February 28, 2013
Tags: estate planning, fiscal cliff, taxation, trust income, trusts and estates
In the aftermath of the fiscal cliff deal, trusts now face much higher taxes on income.
Tax consequences should be weighed in divorce
Published: February 15, 2013
Tags: alimony, child support, divorce, taxation
The potential federal tax consequences facing a husband should have been considered in determining whether he was entitled to a modification of the alimony provisions in his divorce decree, Massachusetts’ highest court has ruled in reversing judgment.
Tax Court may weigh new evidence in ‘innocent spouse’ cases
Published: January 18, 2013
Tags: innocent spouse relief, taxation
The U.S. Tax Court could consider new evidence outside the administrative record when deciding whether a taxpayer should have been granted “innocent spouse” relief, the 9th Circuit has ruled in affirming judgment.
Tax attorney must surrender client records to IRS
Published: January 14, 2013
Tags: Fifth Amendment, IRS, taxation
An order requiring a tax attorney to surrender records to the Internal Revenue Service did not violate his client’s Fifth Amendment right against self incrimination, the 9th Circuit has ruled in affirming judgment.
New landscape for estate planning attorneys
By:
Sylvia Hsieh
Published: January 10, 2013
Tags: estate planning, estate tax, estate tax exemption, fiscal cliff, gift tax, taxation, trusts and estates
The new law that averted the “fiscal cliff” contains major changes for estate and gift tax rules that will affect not only the advice lawyers give to their clients, but the future landscape of estate planning law for years to come.
