Shows
The Willie and Trusty Show about Estate PlanningS Corporations and TrustsThis episode examines the intricacies of using trusts to own S corporation stock, focusing on the permissible trust structures under the Internal Revenue Code. It explains the distinctions between Grantor Trusts, Qualified Subchapter S Trusts (QSSTs), and Electing Small Business Trusts (ESBTs), highlighting their respective tax implications and suitability for various estate planning goals. Practical drafting tips for attorneys and other professionals involved in structuring such arrangements emphasize the importance of precise language and timely elections to maintain S corporation status. Finally, it underscores the need for professional guidance in navigating the complex rules governing trust ownership of S corp...2025-01-0614 min
FICPA PodcastsFederal Tax Update: Electronic Filing of Information Return Mandate Issueshttps://vimeo.com/860494726?share=copy
https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/2/2023-09-05-electronic-filing-of-information-return-mandate-issues
This week we look at:
HHS sends letter to DEA recommending that marijuana be reclassified as a Schedule III drug
General guidance issued determining tax status of 2023 state payments - and IRS asks for comments prior to giving additional guidance
IRS clarifies limits of 2007 CCA on ESBTs and NOLs
News release on electronic filing of Form 8300
2023-09-0552 min
Current Federal Tax Developments2023-09-05 Electronic Filing of Information Return Mandate IssuesThis week we look at: HHS sends letter to DEA recommending that marijuana be reclassified as a Schedule III drug General guidance issued determining tax status of 2023 state payments - and IRS asks for comments prior to giving additional guidance IRS clarifies limits of 2007 CCA on ESBTs and NOLs News release on electronic filing of Form 8300
The slides and this week’s article links can be downloaded below:2023-09-05 Current Federal Tax Developments2023-09-0200 min
Federal Tax Update Podcast2023-09-05 Electronic Filing of Information Return Mandate IssuesThis week we look at: HHS sends letter to DEA recommending that marijuana be reclassified as a Schedule III drug General guidance issued determining tax status of 2023 state payments - and IRS asks for comments prior to giving additional guidance IRS clarifies limits of 2007 CCA on ESBTs and NOLs News release on electronic filing of Form 8300 2023-09-0252 min
ACTEC Trust & Estate TalkThe Intersection of S Corps., ESBTs, California Tax and BeerWhen it comes to trust planning, ESBTs, and S Corps, sometimes you can do everything right and still be subject to California Entity Tax. The American College of Trust and Estate Counsel, ACTEC, is a professional society of peer-elected trust and estate lawyers in the United States and around the globe. This series offers professionals best practice advice, insights and commentary on subjects that affect the profession and clients. Learn more in this podcast.2022-08-1009 min