Legislation

This PodCast is a frank discussion of what some of the top practitioners in the country are thinking,  and actually doing,   with respect to a number of key estate planning tools and techniques.  (PLEASE be patient since the download takes a minute or two) Part 1 covered Planning Techniques, FLPs, and State Death Taxes.   This part covers planning for nonresident aliens and trust tools and techniques. Dan Hastings, Skadden, Arps, Slate, Meagher & Flom LLP in NYC, Ann B. Lesk, of Fried, Frank, Harris, Shriver & Jacobson LLP in NYC, and Joshua S. Rubenstein, Katten Muchin Rosenman LLP in NYC are the panelists. Special Thanks to Dick Nenno, Managing Director and Trust Counsel of Wilmington Trust Company for making this very special program available to LISI members! This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast is a frank discussion of what some of the top practioners in the country are thinking, and actually doing, with respect to a number of key estate planning tools and techniques.Part 1 covers Planning Techniques, FLPs, and State Death TaxesThe panelists for this Wilimington Trust Company PodCast on THE FURTURE OF ESTATE PLANNING are Dan Hastings, Skadden, Arps, Slate, Meagher & Flom LLP in NYC, Ann B. Lesk, of Fried, Frank, Harris, Shriver & Jacobson LLP in NYC, and Joshua S. Rubenstein, Katten Muchin Rosenman LLP in NYC.We thank Dick Nenno, Managing Director and Trust Counsel of Wilmington Trust Company for making this very special program available to LISI members!! This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast concerns Code Section 6662, this time examining both the substantial understatement penalty, as well as the exceptions to this penalty. The material for this week's podcast can be downloaded from http://www.edzollars.com/2007-07-09_Substantial_Understatements.pdf. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast pertains to both the changes to Circular 230 paragraph 10.35 back in 2005 and the recent revisions to Section 6694. We review the penalties that can be imposed on a taxpayer.  We specifically examine  6662(b)(1)'s negligence and disregard of rules and regulations penalty and will later focus on the substantial understatement provisions of 6662(b)(2). The materials for this podcast can be found at http://www.edzollars.com/2007-06-29_Client_Side_Penalties.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast pertains to IRS Notice 2007-54 which grants partial relief from some of the changes made to the preparer penalties under Section 6694(a), delaying full implementation of the provisions until next year.  We discuss the extent of the relief granted, as well as some of the reactions to this change noticed in online discussion groups. The materials for this podcast, including the above notice, can be found at www.edzollars.com/2007-06-15_Delay_of_Game.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This Podcast futher analyzes the new law, this time looking in detail at the preparer penalty provisions and the change in the trigger for where the preparer penalty under Section 6694(a). The materials are available at www.edzollars.com/2007-06-02_Preparer_Penalty.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast is a follow-up to our last.  Kaye Thomas noted that though prior drafts of the bill and the Joint Committee's report on the bill indicated expanding the general rule on the Kiddie Tax one more year, that provision is not included in the final bill.  Rather, only the "student" provision is added to the bill. The materials have now been updated, and can be downloaded from the original link at http://edzollars.com/2007-05-25_New_Law.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This Podcast covers the first major tax bill of the 2007 Congress with changes that are meant to grant relief to small businesses, but which also have revenue raisers that will impact a number of clients.  The President has indicated he will sign the bill, so over the Memorial Day weekend we can all read up on the new law to start our summer.The materials are available for download at http://edzollars.com/2007-05-25_New_Law.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast is Part 2 of Wilmington Trust's 2007 Future Vision of Estate Planning and features Dick Nenno asking perceptive questions of some of the brightest and most creative minds in practice today.  Leimberg Information Services Inc. (LISI) is deeply appreciative of Wilmington Trust Company's willingness to share with LISI members this very practical and insightful session. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast contains the first round of Wilmington Trust's 2007 Future Vision of Estate Planning and features Dick Nenno asking perceptive questions of some of the brightest and most creative minds in practice today.  This is Part 1.Leimberg Information Services Inc. (LISI) is deeply appreciative of Wilmington Trust Company's willingness to share with LISI members this very practical and insightful session. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This Podcast provides guidance on Circular 230 issues.  The IRS on April 23 released guidance on the application of monetary penalties to practitioners, their employers, firms and related entities for violations of Circular 230 as authorized by the American Jobs Creation Act of 2004 This guidance gives some insight into the IRS's views on how they will make use of this new enforcement tool, as well as some indication of what the IRS might view as an appropriate quality control system for a tax practice.  If, as expected, SSTS No. 9 goes from an exposure draft to a final standard for CPAs, this document may be one to consider when a CPA firm sets out its tax quality control standards. And given the existence of the 'aspirational' standard for best practices in Circular 230 Section 10.33, the importance of SSTS No. 9 may not be limited to CPAs. The materials for this podcast can be found at http://www.edzollars.com/2007-04-24_Monetary_Penalties.pdfThere's an excellent book on this topic by Jonathan Bl

This Podcast is Part II in a discussion on Insurable Interest between Steve Leimberg and Randy Zipse of the John Hancock. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This Podcast is the first in a 3 part series on Insurable Interest.  In this Podcast, Steve Leimberg and Randy Zipse of the John Hancock discuss the underlying philosophy and legal background.  In the following Podcasts, Steve and Randy will cover more specific situations such as the insurable interest between spouses, unmarried couples, parents and children, partners and their partnerships, and employers and employees. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast is about HSAs.  Congress passed a number of incentives in the Tax Relief and Health Care Act of 2006 meant to make Health Savings Accounts (or HSAs) more attractive to taxpayers.  We'll take a look at these provisions and consider their impact on our clients.The materials for the podcast can be downloaded from http://edzollars.com/2007-02-03_HSAs.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast concerns IRS Notice 2007-7 that explains the distribution provisions in the Pension Protection Act of 2006.  We focus on some of he provisions contained in this notice that would be of special interest to advisers of closely held businesses and their owners.The materials for the podcast can be downloaded from http://edzollars.com/2007-01-12_IRS_PPA_Notice.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast covers the extenders in the Tax Relief and Health Care Act of 2006 .  These include a number of the items that expired at the end of 2005 and had not yet been extended.  One provision added in the bill gives relief to individuals who have old, unused minimum tax credit which is discussed in this podcast.The materials can be downloaded at http://edzollars.com/2006-12-09_Giving_Credit.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This is Part II of the PodCast interview between Randy Zipse of the John Hancock and Steve Leimberg on the subject of life insurance in charitable planning.  Part I covered some of the problems and issues a life insurance professional must anticipate and questions a charitable development officer should be considering when contemplating the use of life insurance to meet charitable objectives.Part II covers the advantages of using life insurance as a tool in charitable planning and discusses 13 ways it can be implemented. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This is the first of two PodCasts with discussions between Randy Zipse of the John Hancock and Steve Leimberg on the topic of life insurance in charitable planning.  This first Podcast discusses some of the issues a charity's development officer must consider before considering a life insurance proposal - and some of the roadblocks a life insurance agent faces when trying to present a proposal involving the use of life insurance in charitable planning.Part II considers some of the many positive, ethical, and highly beneficial ways life insurance can be used in charitable planning. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This is PART II of our two part PodCast, THE FUTURE VISION OF ESTATE PLANNING, a special presentation of Leimberg Information Services, Inc. (LISI) and is courtesy of the Wilmington Trust Company of Wilmington, Delaware.    Wilmington Trust Company has been hosting panel discussion seminars entitled, "The Future Vision of Estate Planning" in major U.S. cities throughout 2006.  WTC was kind enough to allow LISI to tape and share with LISI members its Wednesday, November 8th, 2006 program which was presented in Philadelphia.     The panel was moderated by Wilmington Trust's Managing Director and Trust Counsel for Wilmington Trust's Wealth Advisory Services (and frequent LISI commentator) Richard (Dick) Nenno and included other three renowned attorneys as panel participants, Francis (Frank) J. Mirabello, Esquire - partner and manager of the Personal Law Practice of Morgan Lewis, Pam H. Schneider, Esquire - founding partner of the law firm of Gadsden Schneider &

This is PART I of a two part PodCast, THE FUTURE VISION OF ESTATE PLANNING, a special presentation of Leimberg Information Services, Inc. (LISI) and is courtesy of the Wilmington Trust Company of Wilmington, Delaware.    Wilmington Trust Company has been hosting panel discussion seminars entitled, "The Future Vision of Estate Planning" in major U.S. cities throughout 2006.  WTC was kind enough to allow LISI to tape and share with LISI members its Wednesday, November 8th, 2006 program which was presented in Philadelphia.     The panel was moderated by Wilmington Trust's Managing Director and Trust Counsel for Wilmington Trust's Wealth Advisory Services (and frequent LISI commentator) Richard (Dick) Nenno and included other three renowned attorneys as panel participants, Francis (Frank) J. Mirabello, Esquire - partner and manager of the Personal Law Practice of Morgan Lewis, Pam H. Schneider, Esquire - founding partner of the law firm of Gadsden Schneider &