Hi Sandy, It has been 14 months since the IRS released that notice and I am not aware of any updates.  My understanding of the issue is these excess deductions fall under IRC 67(b) as they are an allowable deduction under 642(h).  Currently, IRC 67(b) ...

Hi Kenton, Thank you very much for your prompt reply. We appreciate your knowledge and expertise. You confirmed exactly what we thought but it is always good to have that confirmation from someone with more experience on the issue. If we come across ...

I have a client who is considering the purchase of a small local business. He has asked me for some general guidance and analysis of this. It seems that PPC or some other reference guides have "checklists", "to do lists" guides etc to help us and remind ...