The 7520 rate for September 2019 decreased to 2.2%.
The September 2019 Applicable Federal Interest Rates can be found here.
Hong Kong Senior Associate, Ruben Sinha, has been named in CityWealth’s 2019 Future Leaders Top 100. This publication is judged by industry leaders and recognises rising talent (under 40 years old) and leading next generation advisers working within the international private wealth industry across law, private banking, trust services and asset management. This is, in part, recognition of Ruben’s experience advising ultra-high net worth clients in complex international and often high profile cases from both London and Hong Kong. His work is increasingly focused on asset protection and trusts in the context of family litigation, in particular, advising offshore trustees within international divorce proceedings. Ruben’s inclusion follows his recognition in Legal Week’s Private Client Global Elite ‘Ones to Watch’ last summer.’
Originally posted on BCLPCharityLaw.com.
Written by Summer Associate, Brandi Miller.
To simplify compliance for grantors and contributors to tax-exempt organizations, the IRS recently issued an updated revenue procedure (Rev. Proc. 2018-32) that combines previously scattered guidance on deductibility and reliance issues. The new revenue procedure explains when grantors and contributors may rely on a listing of an organization on an IRS database of organizations eligible to receive contributions under Sec. 170 for purposes of determining whether the grants or contributions may be deductible under Sec. 170.
The IRS maintains and updates two different publicly available databases on organizations eligible to receive tax-deductible contributions under Sec. 170. The first lists organizations that are eligible to receive tax-deductible charitable donations (eligible organization list), and the second is an extract of certain information concerning tax-exempt organizations from the IRS electronic Business Master File (the EOB MF Extract).
Historically, the eligible
BCLP’s Private Client Litigation team members have been recognized by Chamber and Partners HNW 2018.
Partner Rupert Ticehurst was ranked as a Band 1 lawyer, while Senior Associates Simon Goldring and Jessica Henson were both recognized as ‘Associates to Watch’.
Private Client Global Elite is the list of the world’s elite lawyers advising Ultra High Net Worth clients. Launched in 2017, the Private Client Global Elite serves as a respected global directory of the world’s top private client and trust disputes talent, as well as rising stars within the industry. This year, they received more than 6,000 entries, resulting in just over 250 Elites and 100 Ones to Watch.
Congratulations to Bryan Cave Leighton Paisner Partners, Dyke Arboneaux, Marcus Dearle, Martin Paisner and Rupert Ticehurst for being featured as an “Elite.”
Congratulations, in equal measure goes to Bryan Cave Leighton Paisner Senior Associates, Simon Goldring, Jessica Henson and Ruben Sinha featured as “Ones to Watch.”
Estate tax transcripts can now be accessed online through the IRS website.
“The ability to access those transcripts online is a significant milestone in the Internal Revenue Service’s effort to reduce the number of estate tax closing letter requests and lessen its workload,” said Catherine Hughes, of the Treasury Department’s Office of Tax Policy.
Before June 1, 2015, the IRS issued an estate tax closing letter for every estate tax return filed. For returns filed on or after that date, the IRS issues a closing letter only at the request of the estate.
In Notice 2017-12, issued in January 2017, the IRS stated that in lieu of closing letters, executors, local probate courts, state tax departments, and others can request an account transcript—a computer-generated report that includes the date on which the