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July 2010

Anyone who has been following Elena Kagan's confirmation hearings is up to speed on the judicial activism/strict construction debate. Strict construction of an exclusion from taxable income powered a notable win for the IRS in Gates v. Comm'r, 135 T.C. 1 (July 1, 2010), a very interesting income tax case that will have implications for private [...]

What Will Happen to Your Income Taxes in 2011?

On the estate tax front, it's been a Macbeth/Faulkner fortnight in Congress - full of sound and fury, signifying nothing. Meanwhile, however, the clock is also ticking on expiration of the 2001 and 2003 Bush tax cuts, potentially affecting many private clients and business owners. To that end, readers may be quite interested in the [...]

Although normal activity in much of Louisville seems to be temporarily suspended this weekend due to one of the most impressive logistical enterprises since the Berlin Airlift, the children's swimming City Meet, the T&E Community still needs tax updates, and KYEstates is happy to share this report on Matthies v. Comm'r, 134 T.C. No. 6 (Feb. 22, 2010). In Matthies, [...]

It may be a lazy summer day in the Eastern United States, but not on the transfer tax news front. The Hill reports here and Pat Lynch's blog reports here that Senators Kyl and Lincoln introduced legislation late on Tuesday, July 13 that would require the Senate Finance Committee to amend to amend H.R. 5297 [...]

The War on Terror and Charitable Giving

It is not often that the GWOT affects the world of T&E law, but  the Supreme Court's June 21 6-3 opinion in Holder v. Humanitarian Law Project, 561 U.S. ____ (2010) is an exception to the general rule. The opinion upheld the Patriot Act provision providing for fines and up to 15 years' imprisonment for persons [...]