Tax Planning Memoranda and Legislative Summaries (2009‑2010)

01/26/10 The 2010 planning landscape: NO estate tax, GST or basis adjustment rules; what 2010-01 Congress may do; possible constitutional “due process” challenge; what can go wrong when documents are wrong about how property is titled (Beudert-Richard v. Richard) 2009 12/22/09 The imminent demise of the estate tax? Possible effect on formula provisions and the 2009-10 difficulties of modified carryover basis; extenders bill and carried interest; proposed stock transactions tax; importance of keeping beneficiary designations current (Kennedy v. DuPont SIP) 09/30/09 More on Roth IRA conversions: calculating what the taxable amount may be; how a 2009-08 “decoupled” state may tax a non-resident’s property, even if it’s passing to a surviving spouse; NY advisory opinion on non-resident’s proposed condo purchase (TSB-A- 08(1)M) 08/31/09 What may happen with estate tax repeal and tax-free IRA distributions to charity; 2009-07 early 2009 AMT “patch”; Roth IRA conversions in 2010 — restrictions will be gone so that anyone may convert a “regular” IRA to a Roth 07/28/09 Some pros and cons of several options to pay for health care reform; the case of the 2009-06 “tainted witness” and a will’s tax apportionment clause (Estate of Wu); how some states are dealing with economic adversity 06/15/09 OMB's “Analytical Perspectives” and Treasury Department’s “Green Book” offer 2009-05 insights on Obama tax proposals and outline of estate and gift tax proposals: consistent values, modifying rules on valuation discounts and minimum 10-year terms for GRATs; taxing employer-provided health care?; new mortality tables and QPRTs; New York’s increased taxes and estimated tax payments 04/20/09 The “Taxpayer Certainty and Relief Act of 2009” (S. 722) — makes lower income tax 2009-04 rates permanent, increases higher rates, and freezes the estate tax at 2009 levels; focus on whether Congress might reinstate the state death tax credit; new task force on tax reform 03/19/09 President Obama's FY 2010 budget proposal: higher rates, limits on itemized 2009-03 deductions and the personal exemption phase-out; the interaction of the regular tax with the AMT; historical income tax and capital gains tax rates; S. 394 would enhance the tax treatment of art and collectibles 02/09/09 Rep. Pomeroy’s estate tax bill (H.R. 436); basic planning points; basis adjustment 2009-02 rules, including modified carryover basis in 2010; “The Rangel Rule” (H.R. 735); intra- family loans 01/12/09 Suspension of 2009 required minimum distributions under The Worker Retiree and 2009-01 Employer Recovery Act of 2008 (Pub. L. 110-458): a brief mention of another “bad facts” limited partnership case (Hurford) Tax Topics — Table of Contents — 2013 - 4 HOUSE_OVERSIGHT_022333