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When drafting dispository documents--whether they involve lifetime gifts or testamentary bequests--attorneys often use formula clauses to designate the value of property passing by gift or bequest. Often, the formula refers [...]

Ron West, John H. Skarbnik and Frank L. Brunetti provide an extensive primer for tax whistleblowers Background The dictionary defines a "whistleblower" as a "person who informs on another or [...]

I. Background The purchase of property used in a trade or business is either currently deductible, as an ordinary and necessary business expense, or is capitalized and recovered through depreciation [...]

As the cost of a college education remains high, Congress continued to expand and improve education tax incentives in the Economic Growth and Tax Relief Reconciliation Act of 2001. The [...]

Some of the more important and significant provisions that affect educational tax benefits in the recently enacted Economic Growth and Tax Relief Reconciliation Act of 2001 relate to qualified state [...]

The following chart summarizes the changes made to IRC section 529 Qualified State Tuition Programs (QSTP) by the Economic Growth and Tax Relief Reconciliation Act of 2001. The new provisions [...]

CONGRESS AUTHORIZED INDIVIDUAL STATES to create qualified state tuition programs (QSTP) in 1996. State-sponsored plans that satisfy the qualification requirements of IRC section 529 are treated as tax-exempt entities. They [...]