Practice Areas

In this issue:

• 2023 Gift Tax Return Filing Reminder
• To Give or Not to Give (Before the Estate Tax Exemption is Reduced at the End of 2025)?
• Sherman Atlas is Proud to Announce the Election of Allison Clayton to the Partnership
• Sherman Atlas Proudly Announces that Kathleen Clark has Joined the Firm's Tax and Trusts & Estates Group
• Sherman Atlas Proudly Welcomes Joanna Kessler to the Firm's Tax and Trusts & Estates Group

In This Issue:

• Reflections on 2021
• 2022 Inflation Adjustments for Tax Items
• Trustees Beware: Trust-Owned Life Insurance Needs A Regular Review to Avoid Trustee Liability
• IRS Issues Instructions on S-Corporation’s Tax Reporting Related to PPP Loan Forgiveness

A broad overview of wills, trusts, estate and gift taxes, and important planning techniques and documents.

If you have questions, please contact any of the attorneys in our Tax and Trusts & Estates Practice Group. Nothing in this booklet should be relied upon as legal advice in any particular matter.

In This Issue:

• The New SECURE Act’s Effect on Estate Planning for Retirement Plans
• Relief from Federal Limitation on Deduction for State and Local Income Taxes for Some New Jersey Business Owners
• Private Foundation Excise Tax Rate Simplification – Law Change Effective 2020
• Misleading Notices from Third Parties of Annual Report Delinquencies for New Jersey Entities

In This Issue:

• 2020 Inflation Adjustments for Tax Items
• If You Want to Make Gifts to Charities or Others in 2019, Be Sure Those Gifts Are “Completed” this Year for Tax Purposes
• Thinking of Converting your S Corporation to a C Corporation? Avoid this Trap for the Unwary.
• The Nonprofit Forum - Is it Time to Convert Your Private Foundation to a Donor-Advised Fund?

In This Issue:

• The Perils of "Transfer on Death" (TOD) and "Payable on Death" (POD) Accounts
• Information That Can Help Your Family at the End of Your Life
• Sherman Atlas Welcomes New Associate to the Tax and Trusts & Estates Group
• New Jersey Trustee Uniform Trust Code Disclosure Requirements – A Reminder

A broad overview of wills, trusts, estate and gift taxes, and important planning techniques and documents.

If you have questions, please contact any of the attorneys in our Tax and Trusts & Estates Practice Group. Nothing in this booklet should be relied upon as legal advice in any particular matter.

In This Issue:

• Charitable Giving in 2018 under the Tax Cuts and Jobs Act of 2017
• If You Want to Make Gifts to Charities or Others in 2018, Be Sure Those Gifts are "Completed" this Year for Tax Purposes
• 2019 Inflation Adjustments for Tax Items
• The New Qualified Business Income Deduction – Still Lots of Uncertainty
• Breaking New Jersey News – New Jersey Offers Tax Amnesty until January 15, 2019
• More Tax Accounting Options for Small Businesses in 2018
• Another Reminder About IRS Revised Partnership Audit Procedures
• A Note about the Registration of New Jersey Private Foundations

In This Issue:

• Trustees Beware: Trust-Owned Life Insurance Needs a Regular Review to Avoid Trustee Liability
• Tax Alert: No Estate Tax in New Jersey Doesn't Mean No Estate Administration
• Sherman Atlas Proudly Announces Three New Members of the Tax and Trusts & Estates Group

In This Issue:

• Estate Planning Cautions and Opportunities in the Aftermath of the Tax Cuts and Jobs Act of 2017
• Existing Testamentary Plans of Individuals Residing in New Jersey
• Existing Testamentary Plans of Individuals Residing in New York
• Formula Bequests for Generation-Skipping and Charitable Gifts
• Planning Opportunities
• Sherman Atlas Announces New York Office Move

In This Issue:

• The Tax Cuts and Jobs Act – How It May Affect You

In This Issue:

• 2018 Inflation Adjustments for Tax Items
• Proposed U.S. Tax Legislation – Stay Tuned
• The Nonprofit Forum Does Your Charitable Donor-Advised Fund Name Successor “Recommenders”?

In This Issue:

• January 1, 2018, Proposed Effective Date for Implementation of New Partnership Audit Rules Is Fast Approaching
• Generation-Skipping Tax Basics You Should Know
• The Nonprofit Forum - CAUTION: The Dangers of Non-Board Members on Board Committees
• Sherman Atlas Proudly Announces Two New Members of the Tax and Trusts & Estates Group

In This Issue:

• Gift Tax Reporting Reminder for Gifts Made in 2016
• Estates of New Jersey Residents Who Do Not Survive Until 2018 Could Confront Costly and Unnecessary New Jersey Estate Taxes
• …And New York Residents Should Similarly Review their Estate Planning Documents Given the Moving Target of the “Cliff” Past Which New York Estate Tax Will Apply
• The Nonprofit Forum - Warning: Even Donations to Your Private Foundation Need a Written Acknowledgment

In This Issue:

• The Election and Your Tax Planning – Stay Tuned
• If You Want To Make Gifts to Charities or Others in 2016, Be Sure Those Gifts Are “Completed” This Year For Tax Purposes
• 2017 Inflation Adjustments for Tax Items
• The Nonprofit Forum

In This Issue:

• New Jersey Repeals Its Estate Tax; Inheritance Tax Remains (for now)
• Status of Valuation Discounts on Transfers of Interests in Family-Controlled Entities Uncertain
• New York Adopts Legislation Providing Fiduciaries with Greater Clarity Regarding Access to Digital Assets
• New Jersey Uniform Trust Code Reminder

In This Issue:

• No More Secret Trusts? New Jersey’s Uniform Trust Code Mandates Disclosure to Beneficiaries…With Exceptions
• The Nonprofit Forum - A Simple Compliance Checklist
• Sherman Atlas Named One of the Best Places to Work in New Jersey
• Sherman Atlas Welcomes Beth Corroon

In This Issue:

• 2016 Gift Tax Reminder
• The Uniform Trust Code is Coming to New Jersey…More to Follow
• The Nonprofit Forum: Nonprofit Board Membership – Some Thoughts for Future and Current Board Members
• Sherman Atlas Proudly Announces New Partner

In This Issue:

• 2016 Inflation Adjustments for Tax Items
• New Guidance on Reporting Tax on Gifts and Bequests from Former U.S. Citizens and Residents
• If You Want to Make Gifts to Charities or Others in 2015, Be Sure Those Gifts Are “Completed” This Year for Tax Purposes

In This Issue:

• New Regulations May Limit Taxpayers’ Ability to Discount the Value of Transferred Minority Interests in Family-Owned or Family-Controlled Entities
• Does Your Power of Attorney Need a Fresh Look?
• Executors Stay Tuned: Estate Tax Valuation Reports to the IRS and Estate Beneficiaries Will Soon be Mandated
• Welcome to new members of our team

In This Issue:

• Changing Your State of Residency: What You Need to Know Before You Go
• The IRS Will Know About Your Undisclosed Foreign Accounts Very Soon
• Trustees of Life Insurance Trusts, Beware of Your Duties

In This Issue:

• 2015 Gift Tax Reminder
• Sherman Atlas adds a new attorney to their Tax and Trusts & Estates Group

In This Issue:

• If You Want to Make Gifts to Charities or Others in 2014, Be Sure Those Gifts Are “COMPLETED” This Year for Tax Purposes
• 2015 Inflation Adjustments for Tax Items

In This Issue:

• Estate Planning Opportunities You May Be Missing
• Offshore Voluntary Disclosure Program Gets Streamlined
• Problematic Assets to Have in Your Estate
• Information That Can Help Your Family at the End of Your Life
• New York Estate Tax Law Changes
• New IRS Form EZ-1023