The Internal Revenue Service has announced relief from the “physical presence” requirement for the notarization or witnessing of participant and spousal consents to certain retirement plan elections during 2020 because of the COVID-19 pandemic. Under I.R.C. §§ 401 and 417, … Continue reading
Category Archives: News
The article “Low-Interest Estate Planning Strategies” described several estate planning strategies that should be considered now that interest rates have reached record lows. One of the strategies that is described in the article is a “long-term GRAT,” meaning a GRAT … Continue reading
My Webcalculators service has a new feature, which is that emails are now being sent out monthly with new federal rates under IRC sections 1274 and 7520 as soon as those new rates are announced by the Internal Revenue Service. … Continue reading
Evans Estate Law Resources has been reconfigured to accept credit card (or debit card) payments directly, rather than having to go through PayPal. For those subscribers who are satisfied to continue to use PayPal for subscription payments, no action is … Continue reading
The IRS has updated its “Economic Impact Payment Information Center” FAQ to include the following new Q10: “Q10. Does someone who has died qualify for the Payment? (added May 6, 2020)“A10. No. A Payment made to someone who died before receipt … Continue reading
On Monday, April 20, Governor Wolf signed S.B. 841 into law, making it Act 15 of 2020. Act 15 addresses a number of problems created by the COVID-19 pandemic, and the one of most significance to estate and trust practitioners … Continue reading
Two changes have been made to the continuing legal education (CLE) requirements in Pennsylvania due to the COVID-19 pandemic: The Group 1 CLE compliance deadline, which would ordinarily be April 30, has been deferred to August 31. “Order Modifying § … Continue reading
We previously reported that Notice 2020-23 defers until July 15, 2020, the filing certain tax returns and making tax payments, as well as the time for completing certain “time-sensitive actions,” that would otherwise be required on or after April 1, … Continue reading
Notice 2020-23, 2020-18 I.R.B. 748 (4/27/2020), defers the due dates for more federal tax returns and tax payments until July 15, as well as certain “time-sensitive actions.” The deferral applies to the tax returns and payments described below that are … Continue reading
The Pennsylvania Institute of Certified Public Accountants has published a web page with COVID-19 updates, including local tax filing deadlines and information. (Scroll down to “Local Tax Jurisdictions and Business Tax Update.”) … Continue reading