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On November 19, 2021, the Internal Revenue Service announced that National Tax Security Awareness Week will take place from November 29 through December 3, 2021.
The IRS Security Summit sponsors this week each year. Security Summit professionals warned about increased risks during the coming months. Fraudsters continue to trick people into sharing financial information. The scammers may use email, text...More
Case of the Week
George Green was a man of humble beginnings. George was both resourceful and determined to succeed. He enrolled in chemical engineering and studied diligently. His work ethic was quickly recognized by faculty. After graduating with honors, he became a graduate assistant and earned a master's degree in engineering. He interviewed and became a product development engineer with a company that built emissions...More
Private Letter Ruling
Decedent passed away and was survived by Spouse. Decedent's estate (Estate) was not required to file a Form 706 U.S. Estate Tax Return under Sec. 6018(a). Estate represents that there was an unused portion of Decedent's applicable exclusion amount and that the portability election allows Spouse to take into account the deceased spousal unused exemption (DSUE). For various...More
Article of the Month
Donor advised funds have been around for almost a century. The first donor advised fund (DAF) emerged in the early 1930s. DAFs became more popular and commercialized in the 1990's with the creation of charitable arms of large financial institutions. Tax law evolved over the years to distinguish public charities from private foundations, without codifying DAFs until 2006. Congress passed the Pension...More