lexisONE Community

The IRS has announced the launching of the IRS Retirement Plan Navigator , a new Web-based tool that assists small business owners in selecting and maintaining a pension plan for their employees (IR-2009-91, “New IRS Retirement Plan Navigator...

Unusual economic conditions are carrying yet another ripple effect: There will be no change in limits to pension plans for 2010.  Annual limitation adjustments to account for cost-of-living increases, as required under IRC Sec. 415(d) , will not...

During an audit of Textron Inc.'s corporate income tax liability, the IRS sought Textron’s tax accrual work papers. Textron had shown the papers to its accountant but refused to show them to the IRS. Consequently, the IRS issued an administrative summons...

When we are young, our parents and educators teach us that sometimes you have to take your medicine to heal a problem. For example, we tell children to study and work hard so that they can accomplish more in their education and eventual career. When we go...

For all those expecting or maybe just hoping to see a break in the estate tax in 2010, the likelihood of a zero estate tax is lessening every day. All evidence points to an extension of the estate tax at 2009 levels. President Obama’s FY2010 budget...

At the end of April, the House and Senate each approved a Fiscal 2010 Budget Resolution which calls for extending the federal estate tax into 2010.   [Under Bush-era tax legislation enacted in 2001, the estate tax was due to disappear at...

Under Bush-era tax legislation enacted in 2001, the federal estate tax was due to disappear entirely at the stroke of midnight on January 1, 2010.   That won’t be happening now.   Senate and House budget negotiators reached...

Don't expect this year's tax-filing season to jolt the economic stimulus movement.  In an April 13th address, Internal Revenue Service Commissioner Doug Shulman noted that tax refunds usually  "kick-start the economy" in...

Here's a plan-ahead tip for retirees: Expect a bump in your tax bill when you file your federal tax returns next year.  Private and public pensioners who have no employment income don't qualify for the " Making Work Pay " tax credit for working...

The American Recovery and Reinvestment Act of 2009 (ARRA), P.L. 111-5, 02/17/2009, signed into law by President Obama on February 17, 2009, has increased the qualified small business stock exclusion to 75 percent from 50 percent (60 percent for stock...

Hold the gold plated Milk-bones : The trustees of The Leona M. and Harry B. Helmsley Charitable Trust have prevailed in their bid to block Leona Helmsley’s billion dollar bequest to dogs . At issue was Mrs. Helmsley’s 2004 mission...