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IRS Memorandum Discusses When a Taxpayer Can Claim a Deduction as Victims of Various Scams Under Current Law
MARCH 14, 2025 BY ED ZOLLARS, CPA This Chief Counsel Advice memorandum addresses the deductibility of theft losses under Internal...
vlmonroe
Mar 206 min read
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Debate Ramps Up on Tax Cut Permanency
Maureen Leddy February 28, 2025 Now that the House has made a move toward extending expiring provisions of the Tax Cuts and Jobs Act...
vlmonroe
Mar 84 min read
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IRS could fire 15,000 employees this coming week
Sunday, February 16, 2025 We’re in the heart of tax filing season. So far, things seem to be going smoothly. But that could change....
vlmonroe
Feb 193 min read
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Live from Heckerling: Planning for Modest Estates
The 58th Annual Heckerling Institute on Estate Planning kicked off Monday in Orlando with a session entitled “Estate Planning for Modest...
vlmonroe
Feb 42 min read
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How a New Year’s Resolution Can Set Up Your Financial Goals for Success
Don’t give up on resolving to do better, psychologists and personal finance experts say. The key is to reframe the way you think about...
vlmonroe
Jan 145 min read
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4 THINGS TO KNOW ABOUT ROLLOVERS BETWEEN CALENDAR YEARS
Wednesday, December 18, 2024 By Sarah Brenner, JDDirector of Retirement Education The IRA rollover rules are always tricky. However, if...
vlmonroe
Jan 42 min read
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I.R.S. to Send Out Unclaimed Tax Credit to One Million Taxpayers
About one million taxpayers who were eligible for a pandemic-era tax credit in 2021 but did not claim it can expect a lump sum from the...
vlmonroe
Dec 26, 20242 min read
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Rupert Murdoch Fails in Bid to Change Family Trust
A Nevada commissioner ruled resoundingly against Rupert Murdoch’s attempt to change his family’s trust to consolidate his eldest son...
vlmonroe
Dec 11, 20246 min read
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NEW RULES: AGGREGATING YEAR-OF-DEATH RMDS
Wednesday, August 28, 2024 By Andy Ives, CFP®, AIF®IRA Analyst In my August 19 Slott Report (“Year of Death RMD – Deadline Extended!”), I...
vlmonroe
Aug 29, 20242 min read
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Wrongfully Detained Americans Welcomed Back with IRS Penalties
The tax man waits for no one. Unable to file tax returns while wrongfully detained, hostages are often welcomed back to the homeland with...
vlmonroe
Aug 18, 20244 min read
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NEW RMD REGS HAVE A SURPRISING RESULT FOR MINOR CHILD BENEFICIARIES
Wednesday, July 31, 2024 By Sarah Brenner, JDDirector of Retirement Education In newly released final required minimum distribution (RMD)...
vlmonroe
Aug 7, 20242 min read
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The Secret Battle for the Future of the Murdoch Empire
Rupert Murdoch is locked in a secret legal battle against three of his children over the future of the family’s media empire, as he moves...
vlmonroe
Jul 25, 20248 min read
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Rich People Freeze Themselves, and Fortunes, for Future Revival
Nobody wants to come back from the dead poor. Luckily for the rich, making wealth immortal is more solvable than reversing death. Estate...
vlmonroe
Jul 15, 20245 min read
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Ex-Girlfriend May Get Windfall Due to Beneficiary Designation Snafu
Legal battle over retirement account worth over $750,000. The estate of a late Proctor & Gamble employee is embroiled in a legal battle...
vlmonroe
Jul 9, 20243 min read
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Ed Slott: Time for Some Clients to Ditch Traditional IRAs
Whether a client’s retirement dreams are five years away or 50, the single greatest threat standing in their way is taxes, warns Ed Slott...
vlmonroe
Jun 26, 20245 min read
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The $1 Billion Art Collection That’s Tearing a Family Apart
The moment Melissa Neumann walked into a lawyer’s office eight years ago to hear the reading of her mother’s will, she felt unexpected...
vlmonroe
Feb 10, 202413 min read
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HOW DO YOU REPORT 2023 ROTH IRA CONTRIBUTIONS ON YOUR TAX RETURN? THE ANSWER MAY SURPRISE YOU
Wednesday, January 31, 2024 By Sarah Brenner, JDDirector of Retirement EducationFollow Us on X: @theslottreport Did you make a Roth IRA...
vlmonroe
Feb 3, 20242 min read
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The Psychology Behind Starting Social Security at 62
January 25, 2024 Social Security supplies a substantial share, and often the majority, of a retiree’s income. For these older workers...
vlmonroe
Jan 28, 20243 min read
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An Inheritance Tax Bill You ‘Can’t Fathom’: $10.8 Billion
https://www.nytimes.com/2021/04/28/business/korea-samsung-taxes.html?unlocked_article_code=1.NU0.tQK3.oczL8MpRDDA2&smid=url-share The...
vlmonroe
Jan 13, 20244 min read
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Trustee of Inter Vivos Revocable Trust Has Duty to Collect Trust Assets
Republished from Probate Stars: A standard estate plan is the use of a “pour over” will with a revocable trust. The will bequeaths the...
vlmonroe
Dec 27, 20235 min read
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