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21 Sep 2017 | Revenue Rulings | National Publication | News story
7520 Rate for October Down to 2.2%

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, the applicable federal rate under section 7520 for October 2017 is 2.2%; down from September.
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23 Aug 2017 | Revenue Rulings | National Publication | News story
7520 Rate for September Stable at 2.4%

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, the applicable federal rate under section 7520 for September 2017 is 2.4%; same as August.
0
27 Jul 2017 | Revenue Rulings | National Publication | News story
7520 Rate for August Up at 2.4%

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, the applicable federal rate under section 7520 for August 2017 is 2.4%; up from July.
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26 Jun 2017 | Revenue Rulings | National Publication | News story
7520 Rate for July Down at 2.2%

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, the applicable federal rate under section 7520 for July 2017 is 2.2%; down from June.
5
16 Jun 2017 | Charitable Remainder Trust , | Letter Rulings | National Publication, Richard L. Fox, Esq. | Article | 2 comments
Recently Issued PLRs Offer Cautionary Tale to Trustees Failing to...
Richard Fox lends us a cautionary tale about the need for proper administration of Charitable Trusts. A recent Private Letter Ruling demonstrates the dire consequences of retaining the wrong person for administration.
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6 Jun 2017 | Practice , | Regulations | National Publication, Bruce DeBoskey, Philanthropic Strategist | Article | 1 comments
Changes to federal policies could drastically affect philanthropists...

Author Bruce DeBoskey looks at the proposed tax legislation and its possible impact on American giving.
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1 Jun 2017 | Revenue Rulings | National Publication | News story
7520 Rate for June Stable at 2.4%

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, the applicable federal rate under section 7520 for June 2017 is 2.4%; same as May.
0
1 Jun 2017 | Charitable Remainder Trust , | Letter Rulings | National Publication, David Wheeler Newman | Article | 9 comments
Can Charitable Remainder Trusts Avoid The Self-Dealing Rules?
David Wheeler Newman provides his analysis of the recent PLR that has planners re-thinking how they use CRTs in their planning.
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3 May 2017 | Charitable Remainder Trust , | Letter Rulings | National Publication, Richard L. Fox, Esq. | Article | 5 comments
Settlor Not Claiming Charitable Deduction Allows Charitable Remainder...
Richard Fox analyzes and clarifies a recent PLR involving a CRT. There are interesting opportunities to explore subsequent to this ruling.
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26 Apr 2017 | Revenue Rulings | National Publication | News story
7520 Rate for May Down at 2.4%

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, the applicable federal rate under section 7520 for May 2017 is 2.4%; down from April.
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4 Apr 2017 | Revenue Rulings | National Publication | News story
7520 Rate for April Up at 2.6%

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, the applicable federal rate under section 7520 for April 2017 is 2.6%; up from March.
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2 Mar 2017 | Revenue Rulings | National Publication | News story
7520 Rate for March Down at 2.4%

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, the applicable federal rate under section 7520 for March 2017 is 2.4%; down from February.
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23 Feb 2017 | Regulations | National Publication | Article | 1 comments
Ed Morrow on the Introduction of the "Death Tax Repeal Acts of...

Attorney Ed Morrow has discovered an interesting anomaly in the tax proposals that could do serious damage to Charitable Remainder Trusts by causing taxable gifts to occur even when the donor is the sole income beneficiary. While it seems unlikely to pass without...
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23 Feb 2017 | Exempt Organizations Update | National Publication, Bruce DeBoskey, Philanthropic Strategist | Article
Look at a nonprofit's 990 tax form before donating your hard-...

The use of an organization's tax filing, in this case the 990, as a resource for donors is a helpful observation. Passion for the cause should always come first, of course. But making sure the organization can sustain itself is a good next step.
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25 Jan 2017 | Revenue Rulings | National Publication | News story
7520 Rate for February Up at 2.6%

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, the applicable federal rate under section 7520 for February 2017 is 2.6%; up from January.
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21 Dec 2016 | Revenue Rulings | National Publication | News story
7520 Rate for January Up at 2.4%

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, the applicable federal rate under section 7520 for January 2017 is 2.4%; up from December.
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30 Nov 2016 | Exempt Organizations Update | National Publication | Article
Successfully Managing the Costs of Complying with Charitable...

Watching charities is a necessary government function because, while rare, there's an occasional bad charity, and any number of charities whose activities may deserve occasional scrutiny. The first step in this process is requiring the charities to register with the...
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27 Oct 2016 | Revenue Rulings | National Publication | News story
7520 Rate for November Stable at 1.6%

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, the applicable federal rate under section 7520 for November 2016 is 1.6%; same as October.
2
11 Oct 2016 | Charitable Remainder Trust , | Revenue Procedures | National Publication | Article | 3 comments
The 5 Things You Need To Know About The New 2016-42 CRAT

There is now more than one way to skin a CRAT - A look at the mathematics of Rev. Proc. 2016-42
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5 Oct 2016 | Treasury Decisions | National Publication, Dennis Walsh, CPA | Article
Ashes to Taxes: Feeling the Burn
An interesting case teaches us important lessons about gifts with restrictions.
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7520 Rates: October 2.2% September 2.4% August 2.4%

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Recent activity

Settlor Not Claiming Charitable Deduction Allows Charitable Remainder Trust to Escape Private Foundation Excise Tax Rules

"For a sub-$5,000,000 estate, should a non-required Form 706 be filed to document that a charitable deduction was not claimed in the establishment of..." from rhunt1967.
"The trust is still a qualified CRUT under Section 664 and, therefore, would not be subject to income tax upon a sale of a contributed asset. Of..." from Richard.
"The trust is still a qualified CRUT under Section 664 and, therefore, would not be subject to income tax upon a sale of a contributed asset. Of..." from Richard.
"Will such a CRUT still be able to defer the sale gain of an appreciated asset contributed to it and then sold?" from nfbandon.
"It is unclear whether a CRUT for which no deduction is claimed would be able to defer the taxation of appreciate property contributed to the CRUT and..." from nfbandon.

Can Charitable Remainder Trusts Avoid The Self-Dealing Rules?

"I agree with David on this. A brother is not, by that alone, a disqualified person for a private foundation (not an ascendant or descendant), so it..." from rnja8c.
"Keep in mind that the prohibition on excess business holdings does not apply to most CRTs, since IRC 4947 which applies some private foundation..." from David Wheeler Newman.
"Not sure what is meant by "non-profit family trust", but let's assume we're talking about a charitable remainder trust since that's what the ruling..." from David Wheeler Newman.
"Case Study: A practicing attorney who is the sole Trustor of a non-profit family trust loans his biological brother, also an attorney, 3 million..." from WmAPackard.
"I am thinking if none of the private excise tax rules apply, the taxpayer could put 100% of a closely held business into the "Un-Charitable Remainder..." from rnja8c.
"Note, too, that it wasn't just the self-dealing rules that didn't apply. It was all of the Chapter 42 private foundation excise tax rules that..." from Richard.
"My guess is that they were trying to avoid the self-dealing rules, so that the property contributed to the trust could have been sold to a..." from Richard.
"So, grantor sets up a CRT for himself, names a charity and retains the right to change it -- no gift to himself and no completed gift to charity for..." from Nancy Marx.
"So, grantor sets up a CRT for himself, names a charity and retains the right to change it -- no gift to himself and no completed gift to charity for..." from Nancy Marx.

Recently Issued PLRs Offer Cautionary Tale to Trustees Failing to Administer Charitable Remainder Trusts in Accordance with Governing Instrument

"The regulations provide that, with respect to a CRT, “trust income may not be determined by reference to a fixed percentage of the annual FMV of the..." from Richard.
"In this case, the State law did not permit payments from corpus. Will the result be different if the State law has a "total return" definition of..." from h.schechter.

Changes to federal policies could drastically affect philanthropists, nonprofits

"Small donors usually do not have tax deduction as a primary concern when giving. Before income taxation (you referred to times back to our founding..." from John Patterson.

Ed Morrow on the Introduction of the "Death Tax Repeal Acts of 2017" - How the Proposed Bills Differ, in their Attack on INGs of All Things, and Threats to CRTs

"Regarding your references to the application to the CRT, did you intend to include the IRC 642(c) pooled income fund within the definition of the..." from DanRice80.

The 5 Things You Need To Know About The New 2016-42 CRAT

"Note however that even without the Rev. Proc. and even without actually putting the qualified contingency in the trust document Reg. 25.7520-3(b)(2)(..." from Russell A. Willis III.
"Thanks. Someone had to do the numbers to figure out where these new rules made sense. Might as well be us" from randy a. fox.