Skip to main content
Richard Albert Luthmann
Avvo
Pro

Richard Luthmann’s Legal Guides

10 total

  • Simple Estate Planning

    Asset Allocation Ensure that each spouse has allocated their total spousal assets evenly in order to maximize the availabiltiy of the Federal Estate Tax exemption amount. In 2009, it was $3.5 millio

    Read more 

  • 2011 Estate Planning Update: Important Changes to the Law

    2011 Estate Planning Update Important Tax Law Changes Retroactive to January 1, 2010 December 17, 2010 marked the passage of the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" (referred to in this Update as the "2010 Act"). This Estate Plannin...

    Read more 

  • The FACTA Provisions of the HIRE Act (P.L. No. 111-147) - Part 1

    On March 18, 2010, the Hiring Incentives to Restore Employment Act (P.L. No. 111-147) or HIRE Act was signed into law by the President. The HIRE Act contains several modifications to the Foreign Account Compliance and Taxation (FACTA) regime including foreign tax reporting rule...

    Read more 

  • The FACTA Provisions of the HIRE Act (P.L. No. 111-147) - Part 2

    4. Withholdable Payments to Non-Financial Foreign Entities under New Code 1472 General Rule: A withholding agent must deduct and withhold a 30% tax from any withholdable payment to any entity -- other than a financial institution -- that is not a US person (a non-financial for...

    Read more 

  • The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (passed by the

    The President on Dec. 17 signed into law a sweeping tax cut compromise negotiated by the White House and Republicans. The Senate approved the bill (H.R. 4853) by an 81 to 19 vote on Dec. 15, and the House followed suit on Dec. 16 with a 277 to 148 vote. The framework of the dea...

    Read more 

  • Economic Substance - Sec.1409 of the Health Care and Educational Reconciliation Act of 2010 - Part 1

    1. The Act. Section 1409 of the Health Care and Educational ReconciliationActof2010 (P.L. No. 111-152), titled Codification of Economic Substance Doctrine and Penalties, sets out a statutoryeconomic substance doctrine and significantly alters the contours of the penalty structu...

    Read more 

  • Update: The Tax Implications of OBAMACARE

    The Supreme Court recently ruled that the Patient Protection Affordable Care Act (PPACA) is constitutional. So what does this mean for taxpayers? A lot. Almost every taxpayerwhether they currently have or do not have insurancewill be affected. Below is a list that will impact t...

    Read more 

  • Update: Estate and Gift Taxes for the Remainder of 2012

    Continued uncertainty due to Congress's delays Congress is at a standstill because of the upcoming election and the estate and gift tax laws are still in disarray.The current state of the estate tax law continues to make it very difficult for clients and estate planners to have...

    Read more 

  • ALERT: Taxpayers Residing outside U.S. questioned at U.S. border regarding back taxes.

    Taxpayers traveling to the United States with unpaid U.S. tax assessments can be detained at the border, questioned, and flagged for follow-up enforcement. If a taxpayer has an unpaid tax liability and is subject to a resulting Notice of Federal Tax Lien, the IRS may submit iden...

    Read more 

  • ALERT: IRS Tightens OVDI (Tax Amnesty) Participation Rules

    The IRS primarily operates on a first contact basis. Taxpayers who come forward to correct a problem before they are caught generally are treated better, pay less penalties and avoid criminal prosecution. The IRS stated mission is to foster voluntary compliance.That means not pu...

    Read more