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Daily Expert Commentary

Expert insight on the latest in charitable planning news and events.

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One of the most comprehensive online libraries available, with personal sorting and storage.

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An extensive array of accurate and easy-to-use calculators.

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The "how-tos" of charitable planning easily searchable and updated regularly.

Recent Commentary

You Aren't Going to Believe This, or Maybe You Will!

Friday, May 13, 2022
IRS
On May 4, 2022, the Treasury Inspector General for Tax Administration (TIGTA) issued an audit report that found IRS intentionally destroyed an estimated 30 million paper-filed tax information returns.

Private Foundation Grant to Donor-Advised Fund

Thursday, May 12, 2022
Historical

This case study illustrates how a private non-operating foundation can make a distribution to a donor advised fund to meet the minimum distribution requirement, while deferring a decision on the ultimate charitable distributees.

Charitable Remainder Trusts and the "Simplified Method" for Reporting the Section 1411 Net Investment Income Tax

Tuesday, March 4, 2014

In 2010, Congress enacted the Health Care and Education Reconciliation Act of 2010, creating new IRC § 1411, which imposes a 3.8% surtax on the net investment income of individuals, estates, and trusts. In December 2012, the IRS issued proposed regulations that included a method (the Simplified Method) for charitable remainder trust (CRT) trustees to capture and report net investment income to the trust's non-charitable income beneficiaries. Final regulations issued in December 2013 took a different approach, but in new proposed regulations issued at the same time, the Simplified Method was retained as an alternative election.

The Simplified Method works as a complement to the pre-existing "four-tier" structure used by CRTs for income tax reporting. Under the Simplified Method, all net investment income (NII) received after December 31, 2012, is aggregated on a cumulative basis and distributed before excluded income. A trustee should consider electing the Simplified Method when the trust's income beneficiaries do not meet the applicable modified adjusted gross income threshold or when the trust has realized or realizable capital losses coupled with a short expected remaining term.

Bloomberg Comments on the Increasing Inflation

Wednesday, May 11, 2022
Legislative

According to an article by Bloomberg in their May 10 tax briefing, Democrats have begun to call on President Biden to "do more" ahead of the midterms regarding the historical inflation that is facing American families.