Update on innocent spouse provisionsBy Carlos A. SaavedraFederal Taxation, October 2000The innocent spouse provisions of the Internal Revenue Code provide relief to a spouse from the joint and several liability of a joint return under Code section 6013(d)(3).
Chairman’s cornerFederal Taxation, August 2000As we begin a new year, I am very privileged and excited to serve as the chairman of the Federal Taxation Section Council.
Individual income tax updateBy James S. ZmudaFederal Taxation, August 2000In Notice 2000-32, 2000-26 I.R.B., the IRS issued additional guidance and relief from the rule excluding certain hardship distributions from the definition of an "eligible rollover distribution."
Procedure updateBy Carlos A. SaavedraFederal Taxation, August 2000U.S. Supreme Court confirms that, for refund purposes, remittances of wage withholding and estimated tax are deemed paid as of the normal due date of the income tax return.
Recent developments in estate and gift taxFederal Taxation, August 2000In Letter Ruling 200013041, the Service ruled that the personal representative of a taxpayer who died shortly after his wife properly disclaimed his interest in her IRA.
New rules for partnership mergersBy Beverly M. HelmFederal Taxation, June 2000On January 11, 2000 the Treasury Department issued proposed regulations on federal income tax consequences of partnership mergers and divisions.
Center for Law and Human ServicesBy Karen V. KoleFederal Taxation, April 2000The Center for Law and Human Services, one of the largest VITA (volunteer income tax assistance) 501(c)(3) in the country, has received funding to establish a law income taxpayer clinic.
Procedure updatesBy Carlos A. SaavedraFederal Taxation, April 2000On December 7, 1999, the United States Supreme Court issued its opinion in Drye v. United States (No. 98-1101), 68 U.S.L.W. 4010 (Dec. 14, 1999), holding that a probate disclaimer did not defeat the reach of the federal tax lien over the disclaimed property.
Changes to the innocent spouse provisions: something old, something newBy Carlos A. SaavedraFederal Taxation, February 2000Code section 6013(d)(3) establishes joint and several liability for married taxpayers filing a joint income tax return. "Innocent Spouse" provisions refer to those Code provisions that create exceptions to this joint and several liability.
Individual income tax updateBy James S. ZmudaFederal Taxation, February 2000The Internal Revenue Service ("IRS") has announced that for business travel after 1999, the optional mileage allowance for owned or leased vehicles will be 32.5 cents a mile.
Transfers to trust not included in gross estateFederal Taxation, February 2000The Ninth Circuit has reversed a Tax Court decision and held that property transferred by a decedent was excludable from his gross estate pursuant to IRC 2036(a).
Individual income tax updateBy James S. ZmudaFederal Taxation, September 1999Several requirements must be satisfied for divorce related payments to be treated as alimony, taxable to the payee and deductible by the payor.
Adequate disclosure on gift tax return to gain section 6501 statute of limitations protectionBy David R. ReidFederal Taxation, June 1999For all gifts or nongifts (completed transfers of property) made after August 5, 1997, it is important that the gift tax return adequately discloses the gift in order for the taxpayer to be afforded section 6501 statute of limitation protection.
Corporate and partnership updateBy John B. TruskowskiFederal Taxation, June 1999When an employer files for bankruptcy, it may eventually be discharged from its obligations to remit taxes it withheld from wages paid to its employees.
Trade associations, associate members and unrelated business incomeBy David R. ReidFederal Taxation, April 1999Business Leagues, Chambers of Commerce, Real Estate Boards, Boards of Trade, or Professional Football Leagues not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholders or individuals are exempt from federal income tax pursuant to IRC section 501(c)(6).
Corporate and partnership updateBy John B. TruskowskiFederal Taxation, February 1999In 330 W. Hubbard Restaurant Corporation, d/b/a Coco Pazzo v. United States, N.D. Ill. No. 98 C 178, District Court Judge Marvin Aspen held that a restaurant was liable for FICA taxes on unreported tips.
Federal income taxes in bankruptcyBy John B. TruskowskiCommercial Banking, Collections, and Bankruptcy, February 1999How federal income taxes are handled in bankruptcy is unclear to most practitioners, including those concentrating in taxation, who do not practice in the bankruptcy area
