IRS STOPS ISSUING EINs – AT THE WORST POSSIBLE TIME

Posted on December 23, 2020

I’m outraged – and you should be too. In the busiest time of year for estate planning attorneys, bankers, business owners and financial services, the IRS began a planned outage from December 23, 2020 – January 4, 2021. If you need to have an EIN issued for a client or business that establishes a legal […]

IRS and Treasury Announce Intent to Issue Regulations: State and Local Income Taxes Will be Deductible for Businesses Structured as Passthrough Entities

Posted on December 9, 2020

Anyone who owns rental property and has not yet re-structured ownership into a passthrough entity now has another reason to make this change. We encourage you to call our office to get this done before year’s end to make the most out of this opportunity from the Treasury and the IRS. The $10,000 limit on […]

NAELA News Publishes Article on CARES Act by Stephen J. Silverberg, Esq.

Posted on April 27, 2020

While protecting small businesses is the CARES Act’s primary purpose, it also contains provisions that benefit Elder Law and estate planning clients and their families. The National Academy of Elder Law Attorneys (NAELA) requested an article to explain those benefits to my colleagues in the Elder Law and estate planning bar. The article, Waiver of […]

Congress Waives Required Minimum Distributions

Posted on March 30, 2020

The CARES Act ( the “Act”) waives the required minimum distribution rules for certain defined contribution plans and IRAs for calendar year 2020. This provision provides relief to individuals otherwise required to withdraw funds from such retirement accounts. This also includes individuals who turned 70 1/2 in 2019 but elected to defer their initial distribution […]

Is it Possible to fix the IRS? The House is Getting Things Started

Posted on April 11, 2018

A recent article from Bloomberg’s Daily Tax Report® says that the House Ways and Means Committee is advancing a legislative package to retool the IRS – but will it work?The House Ways and Means Committee voted 38-0 to advance a package of 12 bills aimed at retooling the IRS. The package, released April 10 by Oversight Subcommittee Chairman […]