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Behind the Scenes at the IRS - How Are Returns Selected for Audit?

With tax season now in the rear-view mirror, some taxpayers may be a bit nervous that the returns they filed with the Internal Revenue Service (the “IRS”) ... read more >

Updated: Consistent Basis Reporting Is Now the Law of the Land

This article is updated information from our original article posted on February 24, 2016. Recent changes to the law have imposed new reporting requirements ... read more >

Consistent Basis Reporting Is Now the Law of the Land

Please see our recent article for updates regarding Form 8971. Recent changes to the law have imposed new reporting requirements upon executors of decedents’ ... read more >

IRS May Eliminate Asset Discounts on Family Transfers

The Internal Revenue Service (“IRS”) appears to have set its sights on a popular strategy used by taxpayers to transfer wealth to successive ... read more >

President Obama Proposal Targeting Capital Gains Loophole

In his recent State of the Union Address, President Obama outlined his plan to simplify the tax code and make it more fair. His approach to simplification ... read more >

Michael Jackson Estate Engaged in Tax Controversy with the IRS

On June 25, 2009, a saddened world bade an untimely farewell to legendary recording artist Michael Jackson. Known affectionately to many of his fans as ... read more >

Pennsylvania Offers Inheritance Tax Exemption for Family Businesses

Recent legislation spells good news for family business owners concerned with the impact of Pennsylvania inheritance taxes upon their deaths. On July 9, ... read more >

American Taxpayer Relief Income Tax Act of 2012: Provisions Affecting Taxation of Estates and Trusts

On January 2, 2013, following a heated political showdown that fleetingly steered the nation over the so-called “fiscal cliff," President Barack ... read more >

Succession Planning at PNC: Lessons for Family-Owned Businesses

News outlets across the nation have announced the impending retirement of James Rohr, CEO and Chairman of PNC Financial Services Group. Effective as of ... read more >