Consideration of tax shelter case about whether warrants issued by an S corporation are a prohibited second class of stock reveals that the entire tax shelter is an arrangement that is a second class of stock.
September 2012 - The Tax Adviser
ESTATES, TRUSTS & GIFTS
Recent Developments in Estate Planning: Part I
This two-part article examines developments in estate planning and compliance between June 2011 and May 2012. Part I discusses developments regarding gift tax and trusts, an outlook on estate tax reform, and annual inflation adjustments for 2012 relevant to estate, gift, and generation-skipping transfer (GST) tax. Part II, in the October issue, will cover developments in estate tax.
expenses & deductions
Investors’ Dilemma on Purchasing Distressed Obligations
This article discusses the purchaser’s perspective of an investment in distressed obligations that are secured by leases on tangible property.