In a landmark decision, the U.S. Supreme Court’s decision in Connelly v. United States will require closely-held business owners to reconsider their current buy-sell arrangement in order to avoid additional federal estate...more
6/14/2024
/ Buy-Sell Agreements ,
Closely Held Businesses ,
Connelly v United States ,
Contract Terms ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
IRS ,
Life Insurance ,
Redemption Agreement ,
SCOTUS ,
Small Business
In a rare unanimous opinion, the U.S. Supreme Court recently confirmed that existing law allows the IRS to probe your bank records, without ever notifying you. Under the applicable statute, the Court concluded the IRS is not...more
6/2/2023
/ Bank Records ,
Debt Collection ,
Government Investigations ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Notice Requirements ,
Polselli v International Revenue Service ,
SCOTUS ,
Tax Court ,
Tax Debt ,
Tax Liability
On Feb. 28, 2023, the U.S. Supreme Court decided Bittner v. United States, holding that non-willful violations of the Bank Secrecy Act (BSA) should be handled per annual report, not per bank account, a ruling that saved the...more