The 7520 rate for December 2020 increased to 0.6%.
The December 2020 Applicable Federal Interest Rates can be found here.
BCLP Partner, Stephanie Moll, and Global Innovation Team member, Kristi Smith, will be presenting with Neota Logic on the International Legal Technology Association’s product briefing webinar Friday, May 29. Moll and Smith will discuss new challenges law firms may be facing that can be overcome through a multidisciplinary approach to digitizing legal services, and will showcase their latest COVID-19 application that was built in the Neota platform. This application helps people impacted by COVID-19 identify the bare minimum requirements for execution of wills, trusts & powers of attorney in the age of social distancing.
You can register for the Webinar here.
Lawrence Brody authored an article in the December 2019/ January 2020 STEP Journal titled US Taxation of Death Benefits. This article discusses the US income taxation of life insurance death benefits, particularly the exceptions to the general rule that proceeds paid by reason of the death of insured are not included as a part of the beneficiary’s taxable income. The complete article can be accessed by STEP members here.