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Internal Revenue Service › Trusts › Investment

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.  
Rivkin Radler LLP

“Hey Mom, Can I Have A Few Bucks?” Is It A Loan? A Gift? A Little of Each?

Rivkin Radler LLP on

A parent will sometimes transfer money to a child to enable the child to make an investment that the child could not otherwise make on their own. For example, the child may have identified an attractive business opportunity...more

Perkins Coie

Washington Court of Appeals Limits B&O Tax Deduction for Investment Income

Perkins Coie on

The Washington Court of Appeals has held that investment funds are subject to Washington state business and occupation (B&O) tax on their investment income. Although Washington law allows taxpayers to deduct “amounts derived...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Out with the Old, in with the Updated – Arkansas Adopts the Uniform Fiduciary Income and Principal Act

Mitchell, Williams, Selig, Gates & Woodyard,... on

Is it principal or it is income? This question has plagued trust beneficiaries, trustees, accountants, and attorneys since trusts have been used. The answer to the question is important, because the answer generally controls...more

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