Trusts Archives - John R. Dundon II, Enrolled Agent
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Trusts

29 Jun

Posted at 00:00h in Stepped Up Basis, Basis, Cost Basis, Death, Estate Tax, Generation Skipping Transfer Tax, Gift Tax, Tax planning, Trusts

According to Internal Revenue Code Section 1014 the basis of property acquired from a decedent is the fair market value of the property at the date of the decedent’s death.  In an environment of inflating asset prices this usually means that the beneficiary experiences stepped up basis...

10 Jun

Posted at 00:00h in Alter Ego, Sub-chapter S, Tax Abuse, Tax Deductible Expenses, Tax Fraud, Tax Guidance & Preparation, Tax Preparer, Tax Problems & Requests, Tax Relief, Trusts, Uncertain Tax Position, United States Treasury

What is an "alter ego" allegation? Aside of course being one of several nuanced yet distinct stages of intoxication, when it comes to the IRS it seems from my perspective that there are several elements of the alter ego doctrine that arose out of the California...

12 Mar

Posted at 00:00h in Corporation, Estate Tax, Estimated Taxes, Excise Tax, Extension, Paying Taxes, Penalty, Sub-chapter S, Tax Guidance & Preparation, Tax Relief, Trusts

If your corporation, partnership or estate operates on a calendar year basis the tax return is due March 15th which is coming up! If you need additional time to file tax returns for these entities file IRS Form 7004 which is an application for Automatic Extension...

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