Newsletters

James Lange: The Best Estate Plan for Most Married IRA Owners After the SECURE Act Steve Leimberg's Estate Planning Newsletter Issue:2810    04-Aug-20

Alan Gassman, Brandon Ketron & Kevin Cameron on the Rubio/Collins Bill - A Deeper Dive Steve Leimberg's Business Entities Newsletter Issue:202    03-Aug-20

Finance 8.1.2020 Bob LeClair's Finance and Markets Newsletter Issue:1062    02-Aug-20

Steve Oshins Releases 6th Annual Non-Grantor Trust State Income Tax Chart in the Kaestner and $10,000 SALT Deduction Era Steve Leimberg's Income Tax Planning Newsletter Issue:203    30-Jul-20

Philip Gross, Neil Dubnoff & Matthew Tominey: Potential Tax Refunds if SCOTUS Rules that Affordable Care Act Is Unconstitutional Steve Leimberg's Income Tax Planning Newsletter Issue:202    29-Jul-20

Bruce Steiner on New York TSB-A-20(2)I: Any New York Source Income Will Destroy a Trust's Exempt Resident Trust Status Steve Leimberg's Income Tax Planning Newsletter Issue:201    28-Jul-20

Actual Text

IR-2020-176 (4 August 2020) IRS Reminds Tax Practitioners to Use a Virtual Private Network (VPN) When Working Remotely
updated:05-Aug-20

H.R. ____ Military Spouses Retirement Security Act
updated:05-Aug-20

S. _____Cost Recovery and Expensing Acceleration to Transform the Economy and Jumpstart Opportunities for Businesses and Startups (CREATE JOBS Act)
updated:05-Aug-20

Cottonwood Place LLC et al. v. Commissioner, No. 14076-17, T.C. Memo. 2020-115 (4 August 2020) Tax Court Denies Charitable Deduction for Conservation Easement
updated:05-Aug-20

S. ____ American Dream Down Payment Act of 2020
updated:05-Aug-20

Red Oak Estates LLC et al. v. Commissioner, No. 13659-17, T.C. Memo. 2020-116 (4 August 2020) Tax Court Denies Charitable Deduction for Conservation Easement Donation
updated:05-Aug-20

Instant Audio and Podcasts

60 Second Planner

SBA Issues PPP Loan Forgiveness FAQs
updated:04-Aug-20

WT Art Partnership -- Summary Judgment Denied on Qualified Appraisal Issue
updated:31-Jul-20

Highlights of the Senate Supplemental Stimulus Bill
updated:28-Jul-20

Podcasts

Keebler and Blattmachr on the Basis of IDGT Assets at Death
updated:25-Jul-20

Video Podcast: Keebler and Shenkman on the PPP Flexibility Act
updated:05-Jun-20

Bob Keebler and Chris Hesse on IRC Section 461(l) and the CARES Act
updated:16-May-20

Bob Keebler and Mark Fichtenbaum: Tax Planning in a Volatile Market with Low Interest Rates
updated:06-May-20

Keebler on Roth Conversions in a Volatile Market
updated:25-Apr-20

Bob Keebler and Ed Slott on RMDs Under the CARES Act
updated:15-Apr-20

Bob Keebler and Jason Early on the Cavallaro Case
updated:19-Mar-20

Bob Keebler and Lyle Benson: Planning Techniques that Work Well in a Volatile Market
updated:03-Mar-20

BlogWatch

CARES Act Encourages Some Married Couples to File Separately
02-Aug-20

IRS Investigation of Universities' Tax-Exempt Status
02-Aug-20

Next Stimulus: Options For Student Loan Relief
02-Aug-20

PPP Loans And Deductibility Of Business Expenses: Senator Cornyn Makes The Good Fight
30-Jul-20

Comparing the Tax Proposals in the HEALS and HEROES Acts
30-Jul-20

California Court: A Trust’s Revocation Method May Not Be Enforced Unless It Explicitly States It’s the Exclusive Means of Revocation
29-Jul-20

Successor Beneficiary RMD Rules After The Death Of The Original Inherited Retirement Account’s Primary Beneficiary
29-Jul-20

Death During a Rollover
29-Jul-20

Proposal Summary: Senate Republicans Set To Propose Next Stimulus Bill
24-Jul-20

Journals
(Due to Copyright Restrictions, LISI is not able to provide Reprints of these articles)

Empirical Inheritance Law
Alexander A. Boni-Saenz - UC Davis Law Review

Waking the Dead: An Empirical Analysis of Revival of Wills
Adam J. Hirsch - UC Davis Law Review

Testamentary Transfers and the Intent versus Formalities Debate: The Case for a ‘Charitable’ Common Ground
Peter T. Wendel - Kansas Law Review

Basis and Bargain Sales: Income Tax and Other Concerns
Bridget J. Crawford and Jonathan G. Blattmachr - Tax Lawyer

Five Signs That Estate Advisors Aren’t Getting With the Digital Program
Jennifer L. Zegel and Sharon Hartung - Bloomberg Daily Tax Report

Web Links

Help for Agents Under a Power of Attorney -- CFPB
To help people (including family members) with legal authority to handle an older person’s money, the Office contracted and worked closely with the American Bar Association Commission on Law and Aging to prepare this guide.

Social Security: What Would Happen If the Trust Funds Ran Out? -- CRS
Updated report from the Congressional Research Service. July 29, 2020. PDF, 20 pp.

Notice of Public Hearing on Section 67(g) Proposed Regulations
The public hearing on the proposed regs (REG–113295–18) will be held on Wednesday, August 12, 2020 at 10:00 a.m. by teleconfeerence.

IRS 2019 Data Book
The redesigned Fiscal Year 2019 edition of the IRS Data Book provides the annual set of statistical tables summarizing tax filings, revenue collections, taxpayer services, enforcement activities and agency operations. The new Data Book features an updated format with additional tables designed to more accurately reflect the way the IRS does business today.

Reporting Excess Deductions on Termination of an Estate or Trust for Tax Years 2018 and 2019
This page added to the IRS website on July 10, 2020 explains how to claim excess deductions on termination of an estate or trust on Forms 1040, 1040-SR and Forms 1040-NR for tax years 2018 and 2019. Under proposed regulations published in the Federal Register on May 11, 2020, an excess deduction on termination of an estate or trust allowed in arriving at adjusted gross income (Code section 67(e) expenses) is reported as an adjustment to income on Forms 1040, 1040-SR, and 1040-NR. Taxpayers may rely on the proposed regulations for tax years beginning after 2017.