The tax advantages and a degree of flexibility have added to the appeal of spousal lifetime access trusts. But they aren’t a fit for everyone.
Day: December 2, 2024
Regs. address partnership recourse liabilities, related-party rules
The IRS issued regulations that finalize proposed regulations issued in 2013. The guidance is focused on when and to what extent a partner is treated as bearing the economic risk of loss and the special rules applying to a partner related to another partner.
Financial Accounting Foundation executive director to retire
John Auchincloss will retire in September 2025 from the FAF. The search for his successor will begin immediately.
Super Micro finds no evidence of fraud, will replace CFO
The investigation determined that “the conclusions EY stated in its resignation letter were not supported by the facts examined in the review.”
Practice Profile: Dreaming up a better tax season
Al-Nesha Jones envisioned a better busy season, and made it happen at her ASE Group
Taxes and the ‘amateur athlete’
Court decisions have opened up a whole new world of tax worries for college student athletes.