On September 8, 2023, Internal Revenue Service (IRS) Commissioner Danny Werfel announced the rollout of a coordinated enforcement strategy that will involve audits of returns filed by 75 of the largest partnerships operating...more
9/13/2023
/ Enforcement Actions ,
Estate Planning ,
Inflation Reduction Act (IRA) ,
Investment Management ,
IRS ,
Offshore Funds ,
Partnerships ,
Private Equity ,
TEFRA ,
Trustees ,
Wealth Tax
The newly enacted U.S. tax law makes significant changes to provisions of the Internal Revenue Code affecting high net worth individuals, their investment entities and family offices. These changes are likely to spur gift...more
1/24/2018
/ Corporate Conversions ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Generation-Skipping Transfer ,
Gift Tax ,
High Net-Worth ,
Income Taxes ,
Pass-Through Entities ,
Revocable Trusts ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Tax Reform ,
Trusts
The Internal Revenue Service (IRS) proposed regulations on August 2, 2016, under which transfers to family members of interests in family-controlled entities — including partnerships, limited liability companies (LLCs) and...more
Connecticut has implemented changes to its transfer tax and probate laws that affect nearly every decedent leaving even a modest estate via will or nonprobate transfer (such as a revocable trust). A new $20 million cap for...more