2012 Articles

Another taxpayer victory on defined value formula clauses: Estate of Petter v. Commissioner By Ryan A. Walsh April 2012 Defined value clauses like the ones used by Anne Petter allow a taxpayer to transfer difficult-to-value assets while minimizing potential transfer taxes.

A Circuit split in severance pay—Time to file a protective refund claim? By James Creech November 2012 Do non-wage severance payments that qualify as Supplemental Unemployment Compensation Benefits payments under Code Section 3402(o) count as “wages” under FICA?

Electronic filing safeguards By James Creech September 2012 While electronic filing has made most taxpayer’s lives easier, it has also created issues with unauthorized filing of tax returns.

For what it’s worth—Odds and ends By Paul A. Meints April 2012 Updates of interest to tax practitioners.

IRS and Tax Court penalize corporate taxpayer for using in-house professional tax return preparer By Philip D. Speicher February 2012 In the recent case of Seven W. Enterprises, Inc., & Subsidiaries, et. al. v. Comm’r, the Tax Court affirmed accuracy-related penalties proposed against a corporate taxpayer even though the taxpayer relied on the advice of an employee who is both a CPA and licensed tax attorney.

IRS e-mail subscriptions—The good, the bad, and the inbox fillers By James Creech February 2012 The author's list of the best and worst IRS newsletters available for e-mail subscription.

ISBA Federal Tax Conference review November 2012 A summary of the ISBA's Federal Taxation annual Conference, which took place just last week.

ISBA Federal Tax Section Council goes to Washington By James Creech September 2012 On May 9th and 10th, 2012 the Federal Taxation Section Council made its annual trip to DC to advise our nation’s leaders on tax issues.

ISBA President challenges Illinois lawyers to fight hunger November 2012 ISBA President John Thies invites all law firms and legal organizations statewide to participate in a food and fundraising drive during the final two weeks in February 2013.

Letter from the Editor By James Creech November 2012 An introduction to the issue from Editor James Creech.

Letter from the Editor By James Creech September 2012 An introduction to the issue from Editor James Creech.

Pro bono spotlight November 2012 Learn more about Andrew VanSingel and his work as Director of Prairie State Legal Services Low Income Tax Clinic.

Pro bono spotlight September 2012 Learn more about David Marzahl, President and CEO of the Center for Economic Progress, who works to make a difference in the lives of low-income taxpayers.

Proposed technical correction to Section 7430—Awarding of costs and certain fees By George E. Marifian September 2012 Section 7430, as currently drafted, allows Revenue Agents to take unreasonable initial positions in an examination with no adverse consequences for such unreasonable positions.

Roth 401(k) plans By Leonard S. DeFranco April 2012 An overview of Roth accounts for retirement planning.

Tax issues facing the individual Chapter 11 debtor By Nancy Franks-Straus February 2012 A look at the income tax issues facing an individual filing Chapter 11.

Tax reform policy considerations By Leonard S. DeFranco September 2012 A list of principles that the Federal Taxation Section Council believes should be adhered to as Congress tackles simplification of the tax code.

Taxation without borders: Allowing states to collect tax from out-of-state sellers By Gregory A. Zbylut September 2012 The proposals in this article offer a workable and sustainable solution to provide brick-and-mortar retailers some modicum of protection, without unduly burdening Internet retailers and discouraging further growth.