A new federal law has changed the way that the IRS audits and collects underpayment of tax (and interest and penalties) from partnerships. Ellen Jackson and Katie Groblewski explain the changes and steps partners should take to comply.
Stokes Law Briefs
Proposed regulations under the Internal Revenue Code are designed to eliminate or significantly reduce the discounts that will be available when valuing interests in family-owned entities for gift, estate and generation-skipping transfer tax purposes. Katie Groblewski explains the implications.
Successful estate planning for families with significant rental real estate business income involves coordinating complex income tax rules with dispositive planning. Katie Groblewski and RoseMary Reed discuss the importance of the choice of fiduciaries for the trust, the practical aspects of managing trust-owned real estate and the potential tax impacts of the resulting managerial structure.
On July 24, 2015, Washington law will permit individuals to create what are commonly called "directed trusts." Katie Groblewski explains how these trusts work.