Month: February 2010
Tax Court Rules Gender Reassignment Expenses Deductible
On February 2, 2010, in Ododonnabhain v. Commissioner of Internal Revenue, the U.S. Tax Court held that a transgender woman’s expenses for hormone…
Inherited IRAs are protected in bankruptcy – sometimes
In a recent ruling, the U.S. Bankruptcy Court for Minnesota held that an inherited IRA was protected from the debtor’s creditors under…
High-income taxpayers to pay more in 2011
The Tax Policy Center of the Urban Institute and the Brookings Institution contains fascinating (to a tax geek) and detailed information about…
North Carolina’s Repeal of the Rule Against Perpetuities Upheld
In a decision dated February 2, 2010, the North Carolina Court of Appeals upheld the Superior Court Judge’s 2009 decision in Brown…
Senate discussing possible agreement on Estate Tax
Nothing has been decided yet, but here’s the scoop from TheHill.com as of February 9, 2010. At a minimum, the 2009 $3.5 million exemption…
Stipulation Leads to Directed Verdict in Fraud Case
Here’s a summary of Burton v. Williams, a recent North Carolina Court of Appeals case (adapted from today’s NAELA eBulletin): Plaintiff sued…
Washington State may double estate tax rate
Yes, I know this is the North Carolina Estate Planning Blog, but in these troubled economic times, with most states, including NC,…
State Estate Taxes – No Worries in NC (yet)
There is no estate tax in North Carolina this year, but residents (and owners of real estate) in 19 other states do…
IRS Issues Guidance for 2010 Gifts to Trusts
Based on what appeared to be a giant “loophole” in the gift tax law applying to gifts made in 2010, taxpayers could…
