The American College of Trust and Estate College News | The American College of Trust and Estate Counsel

ACTEC Proposal to Extend IRS Authority to Grant Relief (February 2, 2017)

ACTEC submitted a report that recommends the IRS be granted the authority to extend the period in which to make all tax elections under the Federal transfer taxes, the Gift, Estate, and Generation-Skipping Transfer (“GST”) taxes (Chapters 11, 12, and 13 of the “IRC”) regardless of whether the due date for the election is set by statute, regulation, or other published guidance.

ACTEC Comments Partnership Audit Rules re: Trusts

ACTEC recently submitted comments on Proposed Regulations to section 6221 of the Internal Revenue Code of 1986, as amended, which was added by Section 1101 of the Bipartisan Budget Act of 2015. This new consolidated or centralized system for audit, adjustment and collection of income tax will apply to partnerships for partnership taxable years beginning after 2017.

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ACTEC Submits Comments on Proposed Regulations Under Section 2704

On October 27, 2016, ACTEC submitted Comments on the Proposed Regulations under section 2704 of the Internal Revenue Code relating to the treatment of the lapse of voting or liquidation rights and the effect of restrictions on the liquidation of a family controlled entity or of an interest in a family-controlled entity.

ACTEC LAUNCHES VIDEO SERIES "ACTEC FAMILY ESTATE PLANNING GUIDE"

Estate Planning Fundamentals to Help Protect Your Family’s Future

ACTEC Speakers Present Oral Testimony to IRS

(June 27, 2016) ACTEC Fellows Ronald D. Aucutt, Lora G. Davis (on behalf of the State Bar of Texas Section), and Gregg M. Simon presented oral testimony to the IRS on proposed regulations regarding “Consistent Basis Reporting Between Estate and Person Acquiring Property from Decedent (REG-127923-15)".

ACTEC Commentaries on the Model Rules of Professional Conduct (Fifth Edition 2016)

The 2016 edition of the commentaries is now available.

ACTEC Comments on Proposed Regulations Under Sections 1014(f) and 6035

The American College of Trust and Estate Counsel (“ACTEC”) is pleased to submit the enclosed comments on Proposed Regulations to new sections 6035 and 1014(f) of the Internal Revenue Code of 1986, as amended (the “Code”). Sections 6035 and 1014(f) were enacted as part of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (P.L. 114-41), signed into law on July 31, 2015.

ACTEC Recommendations for 2016-2017 Guidance Priority Plan

The American College of Trust and Estate Counsel (“ACTEC”) submitted recommendations pursuant to Notice 2016-26, I.R.B. 2016-14, published April 4, 2016, which invited recommendations for items that should be included on the 2016-2017 Guidance Priority Plan.

ACTEC Comments under Section 2801

ACTEC submitted comments on proposed regulations to implement Section 2801.

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