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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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IRS Updates Applicable Federal Rates for October 2014

Wednesday, September 17, 2014

The IRS has announced the Applicable Federal Rates for October 2014, including the Section 7520 rate of 2.2%.

PLR 201437004 - Required Payments to Foundation Deductible as Business Expenses

Monday, September 15, 2014

In PLR 201437004, the Service ruled payments an enterprise was required to make to a foundation as a condition of state licensing were deductible, not as charitable contributions, but as ordinary and necessary business expenses.

PLR 201437029 - Salvaging a Failed IRA Beneficiary Designation

Monday, September 15, 2014

In PLR 201437029, the Service ruled a surviving spouse would be permitted to roll her deceased husband's IRA over to her own IRA, despite the fact there was no beneficiary designation and the default payee was the decedent's estate.

Consolidated Estate and Tax Planning Update

Monday, September 15, 2014

At times, IRS issues rulings that are important to some charitable planners who also work in the estate planning and related tax planning fields. For those individuals, we include in this current event a listing that consolidates several rulings of potential interest. More information about these consolidated rulings, including the text, summary, extended summary, and commentary (as the case may be), is available for review through the links.

Two PLRs Allow Late GST Exemption Allocations

Monday, September 15, 2014

In two related rulings, PLRs 201437001 and 201437003, the Service allowed a husband and wife belatedly to allocate GST exemption to separate transfers to an irrevocable trust with skip potential.

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