Tax Law News and Insights

Moore Bark Than Bite? Supreme Court Weighs In

Published: Jan 04, 2024
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Unless you have been living under a rock—as we tax lawyers are wont to do—you have probably been following Moore v. United States, which we last discussed here. On December 5, the tax community stepped into the spotlight (symbolically, of course) to hear the oral arguments before the Supreme Court. The question...

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IRS Concedes Yet Another Form 3520 Related Penalty Case

Published: Dec 29, 2023
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United States citizens and residents are often not aware of the myriad of foreign information return filing obligations that exist under federal tax laws. For example, buried within the Code are reporting obligations associated with the receipt of a foreign gift and participation and ownership in foreign trusts. The failure...

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Take Advantage Of Increased Gift And Estate Tax Exclusions In 2024

Published: Dec 21, 2023
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The federal gift, estate, and generation-skipping transfer (GST) tax exemptions and the annual exclusion from gift tax are historically high, due to a temporary increase under the Tax Cuts and Jobs Act. However, absent the passage of further legislation, the regulations that elevated the exemptions are set to expire at...

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