Both houses of the legislature have passed SB 428, which makes changes to Pennsylvania laws on pooled trusts for persons with disabilities. … Continue reading
Category Archives: News
At its recently completed 2014 annual meeting, the National Conference of Commissioners on Uniform State Law approved the Uniform Fiduciary Access to Digital Assets Act. When enacted by the various states, the act will provide personal representatives of estates, agents … Continue reading
As previously reported, the IRS has published final regulations on the expenses of estates and trusts that are subject to the 2% floor for miscellaneous itemized deductions. T.D. 9664, 79 F.R. 26616 (5/9/2014) These final regulations require estates and trusts … Continue reading
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
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