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Inheritance

Inherited property basis reporting delayed until June 30

Inherited property basis reporting delayed until June 30

Notice 2016-27, 2016-15 IRB 1 In a Notice, IRS has again delayed the initial due date for providing statements to IRS and to beneficiaries, under the rules requiring consistent basis reporting for estate tax and income tax purposes, this time until June 30, 2016. Background. The executor or administrator of a decedent’s estate must file the estate […]

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Temporary and proposed reliance regs on inherited property consistent basis rules

Temporary and proposed reliance regs on inherited property consistent basis rules

T.D. 9757, 03/02/2016; Reg. § 1.6035-2T; Preamble to Prop Reg 03/02/2016; Prop Reg § 1.1014-10 , Prop Reg § 1.6035-1, Prop Reg § 1.6035-2, Prop Reg § 1.6662-8 , Prop Reg § 301.6721-1, Prop Reg § 301.6721-2 IRS has issued temporary regs that confirm the recently-delayed due date for providing statements to IRS and to […]

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Inherited royalties tricky for reporting taxes

Inherited royalties tricky for reporting taxes

Another good overview of IRS perspective on inherited royalties and the tax consequences, as reported by Raphael Tulino, the spokesman for the IRS in the Orange County/San Diego area. Q. My daughter inherited the rights to her grandfather’s textbook royalties. She included this 1099-MISC income on Schedule E as royalty income, but later received a […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney