Tax Planning

The grantor trust rules: An exploited mismatch

This article discusses the history of the grantor trust rules, how they are exploited to avoid taxes, and ways the rules might be reformed to prevent them from being used for tax avoidance.

Individual tax update

This semiannual update surveys recent federal tax developments involving individuals.

Commercial real estate: Debt restructuring and planning

As many companies continue to work remotely and demand for office space dries up, landlords and banks may be forced to renegotiate debt agreements or foreclose on assets, which could have significant tax consequences.

Senate shows bipartisan support for mobile workforce tax legislation

The Senate voted to make room in the FY 2021 budget resolution for mobile workforce legislation. Details of the budget still must be negotiated, but the vote creates the possibility that mobile workforce legislation, which the AICPA strongly supports, will be enacted this year.

Using trusts in divorce tax planning

A trust set up as part of a divorce settlement can ensure economic protection of the couple’s long-term obligations and provide tax benefits.

Recovery rebates: Tax planning pitfalls and opportunities

The CARES Act enacted a recovery rebate tax credit to help individual taxpayers through the economic disruption caused by the coronavirus pandemic. This article discusses strategies to lower a taxpayer’s 2020 AGI to avoid a phaseout of the credit and other strategies for maximizing the credit a taxpayer receives.

Tax Insider Articles

DEDUCTIONS

Business meal deductions after the TCJA

This article discusses the history of the deduction of business meal expenses and the new rules under the TCJA and the regulations and provides a framework for documenting and substantiating the deduction.

TAX RELIEF

Quirks spurred by COVID-19 tax relief

This article discusses some procedural and administrative quirks that have emerged with the new tax legislative, regulatory, and procedural guidance related to COVID-19.