Christopher Fidler

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New Basis Reporting Requirements (and Penalties) for Decedents’ Estates

FEBRUARY 2, 2016 UPDATE: The final version of Form 8971 and the Instructions have been posted by the IRS. On July 31, President Obama signed into law the Surface Transportation and Veterans Health Care Choice Improvement Act (the “Act”) to reauthorize the Highway Trust Fund’s spending authority for another three months. To offset the legislation’s … Continue Reading

IRS Issues Warnings about Email and Telephone Tax Scams

As the 2014 tax filing season progresses the Internal Revenue Service has issued warnings to taxpayers about convincing fraudulent email messages and telephone calls seeking payments or personal information that will enable the scammer to directly or indirectly steal from the victim.  All taxpayers should keep in mind that the Internal Revenue Service never initiates … Continue Reading

Protecting Private Wealth: Recent Bankruptcy Cases Involving Tuition Payments and Profit Sharing Plans

The BakerHostetler Bankruptcy, Restructuring, and Creditor’s Rights team has issued an Executive Alert highlighting two recent decisions involving debtors in bankruptcy.  The first case holds that tuition payments for the debtor’s minor children’s parochial school tuition are not fraudulent transfers.  The second case holds that profit sharing plan assets used to fund the debtor’s IRA are not … Continue Reading

Beware: Active Participation of S-Corporation Trustee Shareholder is Required – Technical Advice Memorandum 201317010

Differing points of view have arisen regarding determining the active participation of S-Corporation shareholdings held in Trust.  The uncertainty centers on IRC § 469. Section 469 defines a passive activity as any activity that involves the conduct of any trade or business in which the taxpayer does not materially participate, and the section specifically includes … Continue Reading

BakerHostetler’s 24th Annual Tax, Budget and Health Care Policy Seminar

Registration remains open for BakerHostetler’s 24th Annual Tax, Budget and Health Care Policy Seminar taking place on Wednesday, June 12, 2013 in Washington, DC.  The emphasis of this conference is to provide insight to enable business owners and decision makers to effectively plan for tax and health care costs affecting businesses.  For those responsible for … Continue Reading

Tools for Digital Assets and Digital Information

 The popular media and estate planning commentators have raised the profile of “digital assets” as being an emerging area of importance as individuals undertake and review their personal estate planning.  This post describes how several existing, commonly utilized estate planning tools are well suited to the particular demands of planning for digital assets. First, for … Continue Reading