Estate and Succession Planning
Dean Mead’s Estate and Succession Planning Department is one of the largest and most respected groups of estate planning attorneys in Florida. We are frequently…
Dean Mead’s Estate and Succession Planning Department is one of the largest and most respected groups of estate planning attorneys in Florida. We are frequently…
Dean Mead’s Tax Department handles tax planning issues for businesses and individuals. The attorneys in our department have extensive experience in a full range of…
This is quick alert for our readers. Yesterday, the IRS posted Form 8939, Allocation of Basis Increase for Property Acquired from a Decedent, and today, the IRS posted the instructions to the Form 8939. The Form 8939 has been substantially revised since the last release, and this is the first set of instructions issued by…
Read MoreToday, pursuant to Notice 2011-76 (the “Notice”), the IRS extended the due date for filing the Form 8939 from November 15, 2011 to January 17, 2012. This Notice is unexpected considering shortly ago on August 29, 2011 the IRS issued Notice 2011-66 extending the deadline for filing the Form 8939 to November 15, 2011. Rev. Proc. 2011-41 was…
Read MoreBy Matthew J. Ahearn and Brian M. Malec This is our final post concerning Notice 2011-66, in which we will address transfer certificates and the Code section 645 election. Please check back here as we will delve into Rev. Proc. 2011-41 and the optional safe harbor guidance under Section 1022 in future posts. Transfer Certificates…
Read MoreBy Matthew J. Ahearn and Brian M. Malec This post continues on from our immediately previous posting concerning the Section 1022 election and filing requirements. In this post, we will discuss the GST tax guidance in Notice 2011-66 (the “Notice”). A. Decedents Who Died in 2010. TRUIRJCA retroactively reinstated the GST tax for 2010, but…
Read MoreBy Matthew J. Ahearn and Brian M. Malec On August 5, 2011, the IRS released long-awaited guidance for estates of decedents dying in 2010 in the form of IRS Notice 2011-66 (the “Notice”). The Notice addresses certain issues relating to the election out of the federal estate tax for decedents dying in 2010. The Notice…
Read MoreBy Matthew J. Ahearn and Brian M. Malec On Friday, August 5, 2011, the IRS issued Notice 2011-66 and Rev. Proc. 2011-41 to provide guidance concerning the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (TRUIRJCA). Under TRUIRJCA, an election may be made to opt out of the estate tax and into…
Read MoreOn January 31, 2011, the Real Property, Trust & Estate Law Section of the ABA submitted comments to the IRS on the draft Form 8939 released by the IRS on December 16, 2011. Robert Chapman of the IRS Forms Desk responded a week later. Here are a few highlights from the IRS response. 1. Due…
Read MoreMy high school English teacher could never get me to find the themes of The Great Gatsby or The Red Badge of Courage (or anything else we read, for that matter), but apparently I am enough of a tax geek to see themes in the estate tax provisions of the Tax Relief Act of 2010….
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