The Internal Revenue Service issued Notice 2011-76 Sept. 13 granting executors of estates of people who died in 2010 and who timely file Form 4768 an automatic extension of time to file an estate tax return and to pay the estate tax due. The notice also revises the due date of Form 8939, Allocation of…
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Fifth Amendment Privilege Does Not Apply to Swiss Banking Records
M.H. v. U.S. (In re: Grand Jury Investigation M.H.), (9th Cir. 8/19/11): Facts: Taxpayer (T) is the target of a grand jury investigation seeking to determine whether he used secret Swiss bank accounts to evade paying federal taxes. Records were sought as part of the grand jury's investigation. Under its deferred prosecution agreement with the…
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FLORIDA 2011 PROBATE & TRUST CHANGES
On April 14, 2011 and April 29, 2011, the Florida legislature enacted several significant changes to the probate and trust code (hereinafter referred to as “legislation”). The bill was signed by the Governor on June 21, 2011. Some of the key sections of the legislation became effective on July 1, 2011 and others will…
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U.S. readies papers v. Swiss banks on tax evasion
Sat Sep 10, 2011 12:50am BST (Reuters) - The United States is drafting legal documents that seek to force nearly a dozen Swiss banks and international banks with Swiss branches to disclose the identities of American clients evading billions of dollars in taxes, sources briefed on the matter said. The drafting of the documents --…
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