Identity theft in which a taxpayer’s name and tax identification number are stolen and used in order to obtain fraudulent refunds continues to be a growing problem for the IRS and the victim taxpayers. In 2010, the IRS...
Is Time Running Out on Discounts on Transfers of Family Entity Interests? Now May Be The Time to Act.
July 13, 2015
By Joel N. Crouch, Blog
The IRS may be close to issuing new regulations on valuation that could significantly increase transfer tax costs. As a result, it is prudent for families who are contemplating gifts of family entity and limited partnership...
The U.S. Department of Labor’s Proposed Fiduciary Standard Rule
July 10, 2015
By Meadows Collier, Blog
Years ago I worked with a prominent attorney, a brilliant “older statesman” now deceased. Late in his career he was lauded at a banquet held in his honor. One of the banquet speakers noted the attorney’s unusual...
The IRS Voluntary Disclosure Program
July 7, 2015
By Joel N. Crouch, Blog
The IRS Voluntary Disclosure Program The federal tax system is a voluntary system that relies on taxpayers to file complete and accurate tax returns. However, the IRS released a study reporting that individuals and businesses...
Tax Court Holds that Owner of Variable Life Insurance Policy is Taxable on ‘Inside Buildup’ based on Investor Control
July 2, 2015
Tax Court Holds that Owner of Variable Life Insurance Policy is Taxable on ‘Inside Buildup’ based on Investor Control In the first judicial decision on investor control in thirty years, the IRS scores a landmark victory...