I have previously written that the Pa. Department of Revenue does not consider “income in respect of a decedent” to be subject to Pa. income tax, but the Department may be changing its position on the taxation of IRD, because … Continue reading
Category Archives: News
Below is an overview/explanation from Webcalculators. … Continue reading
A new Webcalculator for charitable remainder unitrusts (CRUTs) is now up and running. … Continue reading
A new Webcalculator for “grantor retained annuity trusts” (GRATs) is now up and running. … Continue reading
The Internal Revenue Service has released Rev. Proc. 2018-57, 2018-49 I.R.B. ___ (12/3/2018), with the official inflation adjustments for 2019. The published adjustments for income taxes differ in many cases from the inflation adjustments that were published here in September, … Continue reading
The IRS has issued another private letter ruling granting retroactive tax effect to a judicial reformation of a trust which the IRS agreed did not carry out the intentions of the settlor due to an error by the attorney who … Continue reading
The Internal Revenue Revenue has announced cost-of-living changes to limitations on benefits and contributions for retirement plans in 2019. Notice 2018-83, 2018-47 I.R.B. ___ (11/19/2018). Among the most common limitations are the following changes: The contribution limit for employees who … Continue reading
S.B. 1886 was signed into law by Governor Wolf on October 24, 2018, becoming Act 114 of 2018. The act amends 20 Pa.C.S. § 5521(c) to require Clerks of the Orphans’ Court to report delinquencies in the filing of annual reports … Continue reading
S.B. 1885 was signed into law by Governor Wolf on October 24, 2018, becoming Act 113 of 2018. The act amends 20 Pa.C.S. § 3175 to allow Registers of Wills to increase the bonds required of personal representatives after inventories or … Continue reading
S.B. 180 was signed into law by Governor Wolf on October 23, 2018, becoming Act 90 of 2018. The act makes a number of changes to the disposition of decedent’s remains and makes extensive changes to Chapter 86, on anatomical … Continue reading