Tax Law News and Insights

On March 25, 2024, the IRS issued proposed regulations (REG-108761-22) which, if finalized, would identify certain CRATs as listed transactions. For those unaware of the listed transaction rules, such a designation would mean that taxpayers and material advisors who participated in these CRATs would have to comply with lengthy disclosure...

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The United Nations has offered a framework for countries that want to consider a wealth tax. For advisers of ultra-high net worth clientele in the US, a concern is the continued tendency of multilateral quasi-governmental bodies to push a "one ring to rule them all" uniform system of taxation with a net wealth tax...

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On April 12, 2024, the Internal Revenue Service began notifying thousands of taxpayers that their tax return information was subject to a data breach perpetrated by an independent contractor working for the IRS. During 2018 through 2020, Charles Littlejohn stole the tax return information of thousands of high-net-worth individuals and...

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