This group concentrates on the three federal transfer taxes (estate, gift and generation-skipping), the income taxation of trusts, estates, grantors and beneficiaries, tax litigation and controversy, and arts and collectibles. Because these taxes comprise the federal tax universe in which most estate planning instruments operate, this group seeks to assist trust and estate attorneys in their constant endeavor to improve their knowledge of these taxes, to stay updated on tax reform, and to play a role in the development of these tax systems. Group members work to improve the transfer tax system by preparing and submitting comments on proposed legislation and proposed regulations, and by suggesting legislative solutions to technical problems.
Income and Transfer Tax Planning Group Committees
Art and Collectibles
This committee focuses on the interesting issues associated with arts and collectibles, including transfer tax issues, valuation and other items.
Estate and Gift Tax
This committee focuses on the planning techniques, drafting solutions, and administrative and compliance issues relating to all aspects of the federal estate and gift tax. This committee also follows the enactment of legislation and issuance of regulations and other guidance addressing such taxes and prepares comments for submission to Congress or the Treasury Department when deemed appropriate. This committee also publishes information for the Section and participates in and sponsors Section CLE programs regarding these topics.
Generation Skipping Transfers
This committee focuses on the planning techniques and drafting solutions for generation-skipping transfers (GST), as well as following and participating in GST legislation and regulations projects. The committee prepares comments on legislation and regulations, publishes information for Section members on these topics, and participates in or sponsors Section CLE programs.
Individual and Fiduciary Income Tax
This committee focuses on the income taxation of trusts and estates and beneficiaries and related tax areas, including the Kiddie Tax, deferred payment of estate tax, fiduciary income tax issues, and general postmortem income tax planning.
International Tax Planning
This committee’s primary focus is estate planning and administration, including where relevant income tax issues, for U.S. clients with foreign property or contacts or non-U.S. clients with U.S. property or U.S. beneficiaries. The committee prepares comments on legislation and regulations, publishes information for Section members on these topics, and participates in or sponsors Section CLE programs. This committee also considers the ways to improve the laws that affect international estate planning.
Tax Litigation and Controversy
This committee focuses on procedural and practice developments with respect to disputes with the Internal Revenue Service, including appellate procedures within the IRS, settlement techniques, litigation in the U.S. Tax Court, Court of Claims, U.S. District Court, and in appellate courts. The committee publishes information for Section members on these topics, and participates in or sponsors Section CLE programs.