For "Income Deferral" investment types, such as deferred annuities - State Law changes may affect use in NIMCRUTs. Immediate action may be required!   MORE »

Part I of this two-part article details the historical background, state law changes and the nature of the proposed Regulations under Code Section 643(b). Part II of this Article will detail the impact of these new proposed Regulations on charitable gift planning vehicles.  MORE »

Settlors, who were the sole income recipients of their lifetime charitable reaminder unitrust ("CRUT"), dissolved their marriage and sought and obtained IRS approval for dividing their CRUT into two separate CRUTs.   MORE »

PGDC reported on Martin v. Ohio State University Foundation earlier this year, which stated in part that the Foundation settled with the plaintiffs. Subsequently, PGDC requested a copy of the confidential settlement agreement under Ohio law and is now providing the relevant details of the settlement.   MORE »

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2001-17 indicates that the charitable mid-term federal rate under Code Section 7520 for the month of April is 6.0%.   MORE »

The Joint Committee on Taxation has released a report concerning estate and gift taxation, including: a description of present law and proposals, background and economic analysis, and an analysis of estate and gift taxes to income taxes.   MORE »

In this article, Frank Minton describes some of the current practices regarding compensation of financial services professionals and their affiliated companies, and staff members of charities, and seeks to apply the "Model Standards of Practice for the Charitable Gift Planner" adopted by the National Committee on Planned Giving and the American Council on Gift Annuities to these practices.  MORE »

Members of the American Bar Association Section of Taxation have responded to Notice 2000-37, in which the IRS invited public suggestions for updating the sample charitable remainder trust forms previously published by the IRS.   MORE »

Relying on case law, the IRS held that a couple, who transferred a claim in litigation to a charitable trust prior to the expiration of appeals in the case, "is not required to include the proceeds of the judgment in income under the assignment of income doctrine because such claims are contingent and doubtful in nature."   MORE »

Rep. Jennifer Dunn (R-WA) introduced H.R. 824, the "Neighbor to Neighbor Act," which if enacted into law, will provide five new tax incentives to encourage charitable giving.   MORE »