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In a webinar moderated by BDO’s Brooke Anderson and hosted by Family Business Magazine, leading CEOs discuss their thoughts on “The Successful Family Business CEO”. Watch the recording below.
In a 7-2 decision, the U.S. Supreme Court on June 20 upheld as constitutional the Internal Revenue Code Section 965 transition tax, also known as the mandatory repatriation tax (MRT) enacted as part of the Tax Cuts and Jobs Act of 2017 (TCJA), while leaving open the question of the constitutionality of wealth taxes, which have been a Biden administration tax policy focus.
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The 2024 Tax Strategist Survey was conducted in February 2024 and polled 180 senior tax leaders, including tax directors, chief tax officers, tax executives and chief financial officers (CFOs) at companies with revenues ranging from $250 million to $3 billion.
For high-net-worth individuals, the art of wealth transfer extends beyond merely providing financial assistance to future generations; it is about strategically positioning the next generation for personal success. Unfortunately, it also requires navigating a complex landscape of income, gift, and estate taxes.
The United States Court of Appeals for the District of Columbia Circuit on May 3 reversed the U.S. Tax Court's decision in Farhy v. Commissioner of Internal Revenue, holding that the IRS has the authority to assess penalties for failure to comply with the reporting requirements of Internal Revenue Code Section 6038(a).
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