Pennsylvania H.B. 1429, which makes a number of changes to the form and effect of powers of attorney, was signed by Governor Corbett on July 2, becoming Act 95 of 2014. Updated on July 10: Here is the first installment … Continue reading
Category Archives: News
For the past several years, many tax practitioners have been adding a form of disclaimer to every email because of concerns about the “covered opinion” rules of Circular 230. On June 9, the Treasury published final regulations amending Circular 230 … Continue reading
I’m late in reporting that a federal district court has struck down Pennsylvania’s “mini-DOMA,” 23 Pa.C.S. § 1102, which defines “marriage” as “[a] civil contract by which one man and one woman take each other for husband and wife,” as … Continue reading
The IRS has published a “Taxpayer Bill of Rights” that it says will become a “cornerstone document” to provide taxpayers with a better understanding of their rights. IR-2014-72. … Continue reading
The New Jersey Tax Court has held that the surviving partner of a long-term same-sex relationship was not entitled to the benefit of the 0% Class A inheritance tax rate when the decedent and the surviving partner never registered in … Continue reading
The Superior Court has affirmed the removal of an executor for a conflict of interest when the executor had made loans to herself under a power of attorney during the decedent’s lifetime and was a major debtor of the estate. … Continue reading
The IRS has published final regulations under section 67 that define the kinds of expenses of estates and trusts that are or are not subject to the 2% floor on miscellaneous itemized deductions. T.D. 9664, 79 F.R. 26616 (5/9/2014) … Continue reading
IRS Notice 2014-19 provides guidance on the application (including the retroactive application) of the decision in United States v. Windsor, 570 U.S. ___, 133 S. Ct. 2675 (2013), and the holdings of Rev. Rul. 2013-17, 2013-38 I.R.B. 201 (Sept. 16, … Continue reading
The IRS has announced that, under a special new law, donations for typhoon relief in the Phillipines can be deducted on 2013 income tax returns if the donation is made on or before April 14, 2014. See IR-2014-46 for details. … Continue reading
New York will increase its estate tax exclusion to $5,250,000 over the next four years.
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