by Joel Roettger | Sep 29, 2017 | Charitable, Tax
Must a church file an exemption application in order to be recognized as tax-exempt under I.R.C. § 501(c)(3)? No. GENERAL RULE. An organization shall not be treated as tax-exempt under I.R.C. § 501(c)(3) unless it has given notice to the Secretary in such manner as...
by Joel Roettger | Aug 24, 2017 | Probate, Tax
A recent case from the Southern District of Indiana might make you think twice. Decedent died in Indiana. The claims against the estate totaled $1,812,621.69. The distributable assets of the estate were only $266,872.70. Thus, the estate was insolvent. A significant...
by Joel Roettger | Jul 12, 2017 | Estate Planning, Probate, Tax
Executors who discovered too late that they should have made a portability election have gotten a reprieve. Portability refers to the ability of a surviving spouse to inherit the unused federal estate tax exemption of the predeceasing spouse. In order to receive the...
by Joel Roettger | May 18, 2017 | Probate, Tax
For estates that are required to file a Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return*, it is advisable not to close the estate until you know that the IRS has completed its examination of the return and has accepted it (either with or...
by Joel Roettger | May 11, 2017 | Charitable, Tax
Can an amateur sports league qualify as 501(c)(3) organizations? Yes, but only if the organization is organized and operated for purposes that are not merely recreational and not for the sole benefit of its members. Case in point: an adult men’s baseball league...
