Federal Tax
This is FindLaw’s collection of Federal Tax articles, part of the Finance section of the Corporate Counsel Center. The Federal tax law is administered primarily by the Internal Revenue Service, a bureau of the U.S. Treasury. The U.S. tax code is known as the Internal Revenue Code of 1986 as amended (Title 26 of the U.S. Code). There is a special trial court which hears disputes between the IRS and taxpayers regarding federal income, estate and gift tax underpayments – the U.S. Tax Court. Law articles in this archive are predominantly written by lawyers for a professional audience seeking business solutions to legal issues. Start your free research with FindLaw.
Tax
Federal Tax Articles
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Federal Tax Changes
President Clinton recently signed three bills into law that may provide you with some significant tax planning opportunities. What follows is a summary of some of the provisions of The Small Business Job Protection Act, The Health Insurance ...
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FASIT Regulations
Proposed FASIT regulations, after a long delay, were recently released by the IRS. Financial asset securitization investment trusts ("FASITs") were authorized in 1996 in recognition of the need for a tax advantaged elective securitization vehicle ...
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Family Debt After Divorce
Acknowledging social changes, Congress recently rewrote some of the debt guidelines involving divorced couples whose financial lives remain entwined ...
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Estate Planning and the Taxpayer Relief Act of 1997
CLINTON SIGNS TAX BILL On July 29, 1997, President Clinton signed the Taxpayer Relief Act of 1997. The Act provides for changes to many different areas of the tax system. This newsletter will highlight some of the changes which I believe are most ...
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Estate and Family Wealth Planning
If you are a parent with college bound children, you are no doubt concerned about how best to fund future college costs, and, if your children are already college age, how to minimize the current expenses for tuition and related expenses. There are ...
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Employee Benefit Provisions of the Taxpayer Relief Act of 1997 and Implementation Guidance on Prior Legislation
On August 5, 1997, the President signed into law the Taxpayer Relief Act of 1997 ("TRA '97") which contains a wide variety of provisions affecting employee benefit plans. In addition, in the weeks following, the Internal Revenue Service released ...
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Divorce, Taxes and Your Estate Plan
Over a million Americans will untie the knot each year, about half as many as those who say "I do." If there's a divorce in your future, your most pressing goal may be ensuring that you -- not your ex -- gets custody of the Ming Dynasty urn. While ...
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Impact of the Taxpayer Relief Act of 1997 on Qualified Small Business Stock
> On August 5, 1997, the President signed the Taxpayer Relief Act of 1997 (the Act) into law. The Act is notable for providing taxpayers with the biggest tax cut in more than 16 years and for its breadth and complexity. As you may know, the Act ...
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Corporate Tax Shelters: What Will Be the Impact of the New Regulations on U.S. Multinational Corporations?
In late February of this year, the Internal Revenue Service issued three sets of temporary and proposed regulations requiring promoters to register confidential corporate tax shelters and maintain lists of investors in certain suspect transactions ...
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Congress Prohibits the Use of the Installment Sale Method of Reporting Gain For Accrual Basis Taxpayers
The tax bill recently enacted by Congress includes a provision which prohibits the use of the installment method of accounting for dispositions of property by taxpayers using the accrual method of accounting. Under the installment method, if a ...
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