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What is is an online tool for planning professionals seeking to manage their research, save time and make educated decisions. In addition to a fully searchable library, useful calculations and personal file management, subscriptions include daily commentary from our team of experts on important events, as well as access to the definitive Handbook on the field of Charitable Planning.

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Five More PLRs Approve Settlement Affecting GST Exempt Trust

Monday, August 3, 2015

In five identical rulings, numbered PLRs 201531003 through 201531007, the Service ruled the settlement of a controversy among beneficiaries of a pre-1985 trust would not affect its grandfathered GST tax-exempt status or trigger any income or transfer tax liabilities.

PLR 201531023 - Voter Registration Group Eligible to Receive Foundation Grants

Monday, August 3, 2015

In PLR 201531023, the Service determined a public charity conducting voter-registration drives met the requirements of Section 4945(f), so that grants to it from private foundations would not be treated as taxable expenditures.

Guidance Priorities for 2015-16 Released

Monday, August 3, 2015

On July 31, the Treasury and IRS released their Priority Guidance Plan for 2015-16, together with a fourth quarter report on the prior year's plan.

Senate Passes House Highway Bill with "Basis Consistency" Provision

Friday, July 31, 2015

By a vote of 91 to 4, the Senate yesterday passed H.R. 114-3236, extending federal highway funding through October 29. The measure includes a provision that would require that the reporting of basis in property acquired from a decedent be consistent with that reported on an estate tax return.

2014 Filings Show Continuing Downward Trend on Excise Taxes

Friday, July 31, 2015

Data posted by the Statistics of Income Division at IRS on Form 4720 filings for calendar 2014 show a continuing downward trend in the number of returns filed and in amounts of excise taxes collected.

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