By H. Jacob Lager of Zuber & Taillieu LLP
The Supreme Court of California ruled that transfer of property to a revocable trust of which the transferor is sole beneficiary does not constitute a “change in ownership” triggering property reassessment under California law because the owner is still essentially the same person. However, if that trust subsequently becomes irrevocable… More...
The U.S. Department of the Treasury has issued its “Green Book,” formally known as the “General Explanations of the Administration’s Fiscal Year 2011 Revenue Proposals.” More...
September 9, 2009 report issued by the Department of Treasury (”Department”) discussed the benefits of 529s as a way to build savings for this critically important investment, the extent to which Section 529 plans serve various income groups, and how well the plans keep costs low so as to maximize returns to savers. More...
The Internal Revenue Service (“IRS”) has issued proposed regulations relating to reporting sales of securities by brokers and determining the basis of securities. More...
The Internal Revenue Service (:IRS”) has issued proposed regulations under a new statute requiring that, starting with transactions in calendar year 2011, the gross amount of payment card and third-party network transactions be reported annually to participating merchants and the IRS. More...
The Information Reporting Program Advisory Committee (“IRPAC”) has released the advisory group’s 2009 recommendations on a wide range of tax administration issues. More...
In an effort to combat tax evasion and fraud, the European Commission has proposed a revenue regulation that seeks to foster administrative cooperation in the field of valued added tax. More...
The Internal Revenue Service (“IRS”) has released proposed regulations regarding the determination of partners' distributive shares of partnership items of income, gain, loss, deduction and credit when a partner's interests varies during a partnership taxable year. More...
The Internal Revenue Service (“IRS”) has issued a document provides for a public hearing regarding a proposed rulemaking. More...
The California Franchise Tax Board (“FTB”) seeks to amend regulation pertaining to sale and use tax. Specifically, the FTB’s proposed regulation clarifies the definition of the term “program” as it relates to computers and data processing. More...
The Internal revenue Service ("IRS") has issued a document describing issues that it and the Treasury Department are considering addressing, in a notice of proposed rulemaking, regarding the definition of an interest in real property within the meaning of section 897(c) of the Internal Revenue Code ("IRC"). More...
