2018-07-23 Taxing Trusts Roadblocks

This week we look at the following items:

• Two state supreme courts restrict their states’ ability to tax trusts
• IRS issued PMTA on willfulness for FBAR penalty
• Forfeitures now can be used to fund QMACs and QNECs
• IRS discusses the impact on taxable wages of a payroll tax examination
• Many exempt organizations will no longer have to file Schedule B with Form 990
• Proposed regulations issued on due diligence expansion to head of household status added by TCJA

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