Central Intelligence, March 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 March 2023 issue include the disallowance of a charitable deduction in a tax-evasion scheme, how to amend a trust, the distinction between gifts and transfers for consideration, and more. 

This issue includes: 

• Tax court denies charitable deduction under tax-evasion scheme
• District court holds that US tax treaties can affect individual FBAR requirements
• State court of appeals upholds trust amendment despite lack of original
• IRS rules that retirement plan properly allows medical benefits for employed participants receiving substantially equal early distributions
• Tax court denies treatment of gifts as transfers for consideration