Tax court and IRS rulings on family limited partnerships, trusts, and budget proposals (2003‑2004)

08/03/04 Tax Court says stock transfers to FLP are indirect gifts (Senda); co-op’s real estate 2004-10 taxes not deductible against AMT (Ostrow and Guterman) 07/14/04 IRS addresses grantor trust rules and implications of tax reimbursement clauses 2004-09 (Rev. Rul. 2004-64); LUST tax 06/25/04 H.R. 4520, the export bill; proposals for state and local sales tax deduction and 2004-08 deferred compensation; House bills; temporary Connecticut decoupling; 7520 rate chart 05/28/04 Kimbell v. U.S. — 5" Circuit hands taxpayer a victory in FLP case; how the applicable 2004-07 federal rates are determined 04/28/04 Export bill: economic substance doctrine, expanded “kiddie tax”; no dice on offsetting 2004-06 gambling losses (TAM 200417004); QSLOB election 04/02/04 President Bush’s 2005 budget takes aim at 529 plan “loopholes”; deductibility of 2004-05 attorneys’ fees — Supreme Court grants cert on Banaitis and Banks 03/18/04 Impact of 2001 and 2003 tax law changes and interplay with AMT; reminder about low 2004-04 7520 rates 02/27/04 More thoughts on “decoupling”: New York, New Jersey and Connecticut — the power 2004-03 of lifetime gifts; pro-rating the tax on a New York trust that changes situs 02/03/04 Tax clause nightmare: Lurie v. Commissioner, or the pain of charging taxes to a non- 2004-02 taxable share; interrelated computations 01/14/04 New York fiduciary income tax and trust situs: Estate of William Rockefeller and 2004-01 Matter of Harriet Bush; codification of Mercantile 2003 12/19/03 More changes on New York’s 529 Plan; intra-family loans: term and demand loans, 2003-21 and forgiving them; note on William Roth and John Breaux 11/26/03 Inflation-adjusted numbers for 2004; charitable remainder trusts, “ordering rules” 2003-20 and qualified dividends (REG-110896-98) 11/10/03 Connecticut “decouples” for a bit; New York and New Jersey “decoupling” — 2003-19 disclaimers and contingent QTIPs; changes to New York's 529 Plan 10/24/03 IRS acquiesces in Walton GRAT decision (Notice 2003-72); Social Security and “full 2003-18 retirement age” 10/10/03 The Independent 529 Plan 2003-17 09/26/03 IRS guidance on reporting requirements for substitute dividends (Notice 2003-67); 2003-16 the “Wall Street Rule”; tax reward money taxable (Roco) 09/05/03 The fall legislative agenda; saving for a child’s college education 2003-15 Tax Topics — Table of Contents — 2013 - 8 HOUSE_OVERSIGHT_022337