Highlights of the American Taxpayer Relief Act – Part I

On January 1, 2013, Congress passed the American Taxpayer Relief Act (“2012 Taxpayer Relief Act”), which the President has vowed to sign as soon as it is ready for his signature.  The 2012 Taxpayer Relief Act will prevent many of the tax hikes scheduled to go into effect this year and retain many favorable tax … Continued


Treasury Responds to Claims of Undervaluation in Contributed Retirement Plan Assets

Treasury has answered a letter from Democratic Representatives voicing suspicions that the contribution limits for tax-deferred retirement accounts are being avoided by undervaluing the contributed assets.   Treasury highlighted the IRS’s enforcement efforts, opined that current tax rules provide little incentive to shift investment gains to IRAs and SEP-IRAs by using undervalued assets, and highlighted current … Continued






Individual Taxpayers and The 3.8% Medicare Surtax

The 2010 Patient Protection and Affordable Care Act, which the Supreme Court largely declared constitutional last month, contains several new taxes.  Among the most significant is the new 3.8% Medicare surtax on investment income which takes effect January 1, 2013.


New, Temporary Regulations Explain Estate Tax Portability Election

IRS has issued long-awaited temporary and proposed regulations providing guidance on the requirements for electing portability of a deceased spousal unused exclusion amount (“DSUEA”) to the surviving spouse, and on the rules for the surviving spouse’s use of this DSUEA.


Results of Home Health Agency Patient Surveys Available to Medicare Recipients

Many seniors who require long-term care would rather remain at home than move to an assisted living or nursing facility; however, the selection of which company to hire for in-home assistance can be a difficult decision for family members to make.  The Centers for Medicare & Medicaid Services’ (CMS) have prepared a national survey requesting … Continued