It’s the start of a new year, which means tax season—and this year’s April 17th IRS filing deadline—is just around the corner. Soon you’ll be receiving tax forms such as your W-2 or 1099s, and you’ll start thinking about the life events that could affect your taxes in...
Although it’s the season of giving, no one wants to share with the IRS. Luckily, the law provides you many opportunities to give gifts to family, friends, and charities tax-free. Some are straightforward, while others may require the help of a professional. Your...
September 13, 2017 The IRS has successfully pierced the asset protection aspects of a trust that was set up in New Jersey. In the past, I have published some accounts of other situations in which the federal government was able to treat assets in a trust as being...
September 8, 2017 President Trump issued in April Executive Order 13789 to identify which regulations: (i) are unduly complex, (ii) impose undue financial burdens on taxpayers, or (iii) exceed the IRS’s statutory authority. The Proposed 2704 Treasury Regulations have...
August 24, 2017 There have been a couple of recent cases that have concluded that there is no asset protection strategy to stop a formidable creditor, who has secured a federal judgment, from attaching a beneficiary’s interest in a trust created by, for example, Mom...