Central Intelligence, February 2023

Stay current with important court rulings and legislative updates that impact our industry by checking out the summaries provided in our “Central Intelligence” publication. Topics covered in our February 2023 issue include: the reach of the IRS into trust assets, cryptocurrency valuation, and more. 

This issue includes: 

• Early distribution from qualified plan included in gross income despite taxpayer’s claim of diabetes disability
• California Court of Appeals denies summary judgment for flawed beneficiary change
• District Court treats trusts as nominees for IRS defendant, allows reach of trust assets
• IRS 2023 “no-ruling” list: Items of interest
• IRS Chief Counsel Advice memoranda issued addressing valuation of cryptocurrency