Articles

Why Can't We All Just Get Along: Finding Consistent Solutions to the Treatment of Derivatives and Other Problems

Some of the day-to-day complexity in the tax law results from the accretion over a period of years of different answers to essentially similar problems. In part this may simply be the product of a compartmentalized Service in which different people deal with aspects of the same issue, depending on whether the aspect is "foreign" or "domestic" or otherwise pigeon-holed...

Notes

Wife's Elective Share Included in Gross Income under Section 662(a) as Distribution of Estate's DNI to Beneficiary: Brigham v. United States

In Brigham v. United States, the First Circuit held that sections 661 and 662 applied to estate distributions in satisfaction of a widow's elective share, and that the income taxation of the decedent's estate earnings was properly passed on to the widow. In affirming the district court, the First Circuit held that the distributions were not excludable as gifts...