Abusive Tax Shelters – The government has never been fond of abusive tax shelters and to combat them has an array of penalty provisions. In a recent case, Reiserer v. U.S., 99 AFTR2d 2007-1438 (CA-9, 2007), the court held that the IRS could assess penalties under Code Section 6700 (100% of the gross income from…
Estate Identity Theft: Crooks steal live people‘s identities, why not steak a decedent’s identity? The executor would have to fight the theft no different than you would have to address a similar problem. Precautions: Change locks on any empty house or apartment, install an alarm in any now empty home, and cancel all credit cards…
Vacation homes are a common family asset, but keeping them in the family for successive generations, while keeping the peace, is not always an easy task. You have to address gift and estate tax issues on making the transfer, funding carrying costs, and family issues (who gets to use the house this Christmas?). There…
Your employer has merged with a firm and has offered you a buy-out. What issues must you as the employee consider? It’s not just about the money. It’s about all the steps necessary to untangle your relationship. While the details will vary by deal, here are a few points to consider: Complete Agreement –…