Estate And Tax Planning Law Firm
We have discussed the role of the personal representative in probate proceedings in past posts ("Personal representative or executor? Either way, it's a tough job," for example). The specific duties may vary from estate to estate, determined by the size of the estate...
A rule change proposed by the IRS could make a weekend in Las Vegas a little less attractive for Bay Area gamblers. The IRS would like to lower a reporting threshold for certain winnings, and casino owners say it would take a large bite out of their bottom lines.Right...
We are talking about the "jock tax" and its provenance. As we said in our last post, the jock tax is a nonresident tax on professional athletes' income. Fewer than half of all states, along with a handful of municipalities, impose the tax, according to the Tax...
The San Francisco Giants will shell out more than $166 million for player salaries this year. The money is not exactly distributed equally. According to ESPN.go.com, the highest-paid player on the team is Hunter Pence, with an annual paycheck of $18.7 million. The...
It would be great if an estate plan were something you could just set and forget, but life rarely works that way. Many people take responsible action and develop an estate plan that will provide tax savings and protect their assets for their spouses and children. If...
We are circling back to our discussion of the Internal Revenue Service's recent memorandum clarifying (or attempting to clarify) how penalties are decided for foreign bank account reporting violations. In our June 17 post, we also warned that the June 30 deadline for...
It the thing nobody wants to get in the mail: a letter from the IRS informing the recipient that there is a problem with a previous income tax return. Whether the letter is announcing an audit, or asking for more information to explain an apparent discrepancy, it is...
As a trust beneficiary, you have rights, which may depend largely on the language of the trust document. The complexity and length of the document are, in many case, intimidating for the trust beneficiary. If you suspect that your rights as a beneficiary have been...
The IRS takes its filing deadlines seriously, but the agency does not make it easy to remember the finer points of each due date. April 15, for example, is the deadline for filing income tax returns. By deadline, the IRS means that the return must be mailed by 11:59...
Most people know that once a year, they are required to submit documentation to the federal government as well as the state for their tax return. They also know that if they fail to report things properly, they could be audited by the IRS and suffer penalties as a...
