News & Analysis as of

Internal Revenue Service Marital Assets

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Gray Reed

You Can’t Hide – IRS Argues Willfulness Proven by Husband’s Conduct

Gray Reed on

It’s no secret that spouses, particularly in bad times, may hide things from one another. In fact, there are bodies of cases involving such marital behavior. However, we’ve gotten another recent reminder that such attempts...more

DarrowEverett LLP

Time to Step Up? Florida’s Community Property Trust Act Worth A Look

DarrowEverett LLP on

Unknown to many Floridians, Florida enacted the Community Property Trust Act which went into effect on July 1, 2021, and established the ability to convert non-community property into community property. The community...more

Fox Rothschild LLP

The 529 Plan Hangover; Disposing of Unused Funds.

Fox Rothschild LLP on

Modern day divorce brings us assets in many forms and many of them are “pregnant” with tax consequence when they are divided. In almost all cases, couples who can’t agree on much do tend to acknowledge that money they have...more

Greenberg Glusker LLP

Top Tax and Legal Considerations for Wealthy Families Going Global

Greenberg Glusker LLP on

In recent years, we have seen high net-worth and ultra-high-net-worth families become, increasingly, “global citizens.” As families and their assets touch multiple jurisdictions, a myriad of issues become especially important...more

Rivkin Radler LLP

Moving to the U.S.? Have You Planned for the Estate and Gift Taxes?

Rivkin Radler LLP on

It is a fact that the phenomenon of human migration has been a major force in the history of the world. Indeed, among the themes that have remained constant during my years of practice, there are two that may be...more

Freeman Law

What Happened to My Joint IRS Income Tax Refund?: The IRS’s Authority to Offset

Freeman Law on

Generally, when a taxpayer makes an overpayment of tax, the IRS refunds the overpayment to the taxpayer.  But this is not always the case.  For example, the IRS has the statutory authority to credit (or offset) an overpayment...more

Gray Reed

Collecting Separate Tax Debts from Community Property

Gray Reed on

Texas is a “community property” state; but all property in Texas is not “community property”. In Texas, each spouse can have his or her own “separate” property, which generally consists of property that was acquired by gift...more

Stinson - Benefits Notes Blog

QDROs For Unmarried Cohabitants?

Sponsors of qualified retirement plans know that, generally speaking, plan benefits cannot be taken from a participant through legal process or otherwise be assigned to anyone other than the participant. There is an exception...more

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