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Davis Brown Tax Law Blog

The Davis Brown Tax Law Blog provides clients with updates and analysis of tax law - including asset and stock purchase/sale transactions, public and private bond financing, tax credit financing and international tax law.



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Tax Law Blog: IRS Revises Offshore Voluntary Compliance Programs - October 20, 2014

As of July 1, 2014, the Internal Revenue Service (IRS) has implemented several changes to the streamlined filing procedures for offshore compliance, as well as the Offshore Voluntary Disclosure Program (OVDP). These programs provide taxpayers with offshore assets an avenue to bring their tax obligations into compliance. Read More »

 

Tax Law Blog: Tip from the fall meeting of the American College of Trust and Estate Counsel (ACTEC) - October 17, 2014

Greetings from the fall meeting of the American College of Trust and Estate Counsel (ACTEC)! At the Digital Assets Task Force Committee we received a great tip for preventing our LinkedIn accounts from being used by people who want to mine our email accounts. Read More »

 

Tax Law Blog: Tax Court Ruling on Frequent Flyer Miles as Income - August 29, 2014

The United States Tax Court issued a ruling on August 26, 2014 requiring a taxpayer to include in income the value of an airline ticket purchased with "thank you" points. What does this mean for you? Read More »

 

Tax Blog: Delaware Grants Access to Social Media After Death - August 26, 2014

Delaware has become the first state to enact the Uniform Fiduciary Access to Digital Assets Act. The Act allows executors, trustees, agents under a power of attorney, and guardians of incompetent individuals access to the online accounts of the individuals they are managing the affairs of. Read More »

 

Tax Blog: Change in One-Per-Year Rollover Rules on IRA - July 25, 2014

A recent Tax Court decision and IRS announcement "clarify" the one-per-year rule for IRA rollovers in a way that effectively changes the application of the rule for taxpayers with more than one IRA. Read More »

 

Tax Law Blog: UPDATE: Form 1023 EZ Released for Small Nonprofits - July 2, 2014

Earlier this week I discussed the proposed Form 1023-EZ, a simpler, shorter application for tax exempt status for small organizations. As of July 1, 2014, that form and the related instructions have officially been released. Read More »

 

Tax Law Blog: New Simplified Application Form for Small Nonprofits - June 30, 2014

In an effort to reduce the burden on organizations applying for tax-exempt status as a 501(c)(3), the IRS has released a draft Form 1023-EZ. The final form is expected to be released later this summer. Read More »

 

Tax Law Blog: IRS Releases Taxpayer Bill of Rights - June 11, 2014

The IRS has released what it calls the Taxpayer Bill of Rights, grouping together the rights that taxpayers have. These rights have always existed, but now the IRS has put the rights together in a clear, understandable list to be distributed to taxpayers. Read More »

 

Tax Law Blog: Updated E-Filing Requirements for Tax Preparers - May 15, 2014

If you prepare tax returns for individuals (or you are the individual paying someone to prepare you tax returns) you will want to know about the new IRS guidelines aimed at preventing abuse of the e-file system. Read More »

 

Deadline Approaching to Avoid Losing Tax Exempt Status - May 8, 2014

For many nonprofit organizations, May 15 is their tax filing deadline (the equivalent of an individual's April 15 deadline). For organizations who have not filed the last few years, the passage of that date without a filing could result in the IRS revoking the favorable tax-exempt status. Read More »

 

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