Tax Law Update

The Internal Revenue Service issues interim guidance on Section 67 deductions following Rudkin. On Jan. 16, 2008, the Supreme Court issued its decision in Knight, Trustee of William L. Rudkin Testamentary Trust v. Commissioner, 128 S.Ct. 782 (2008), holding that costs paid to an investment advisor by a non-grantor trust or estate generally are subject to the 2 percent floor for miscellaneous itemized

The Internal Revenue Service issues interim guidance on Section 67 deductions following Rudkin.

On Jan. 16, 2008, the Supreme Court issued its decision in Knight, Trustee of William L. Rudkin Testamentary Trust v. Commissioner, 128 S.Ct. 782 (2008), holding that costs paid to an investment advisor by a non-grantor trust or estate generally are subject to the 2 percent floor for miscellaneous itemized deductions under Internal Revenue Code Section 67(a). Final regu

All access premium subscription

Your subscription will include 12 months of Trusts & Estates magazine and access to premium content on WealthManagement.com.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish