Regarding multiple employer welfare benefit plans (VEBA and non-VEBA): it's time to stop all the insanity

Article Abstract:

Employers planning to purchase welfare benefit plans in the form of voluntary employee's beneficiary association (VEBA) or non-VEBA plans to provide severance or death benefits should be careful of the aggressive marketing of some promoters. Qualification as a welfare benefit plan rather than as a deferred compensation plan under IRC section 419A(f)(6) and exemption status under section 501(c)(9) are important factors to consider in deciding what sort of plan to purchase.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Private Households, Households & Household Services, Evaluation, Consumer spending, Employee benefits

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Valuation discount for built-in capital gains tax: at least one Tax Court judge and the Second Circuit have it right

Article Abstract:

The controversial IRS position that capital gains tax built into closely held business assets cannot lower the value of businesses was rejected by the Tax Court in Estate of Davis v. Commissioner and the US 2nd Circuit Court of Appeals in Eisenberg v. Commissioner. Such valuation discounts should mirror those allowed in cases of asset liquidation. The positive rulings left open related issues such as those involving family limited partnerships or liability companies.

Tax Law, Public Finance Activities, Laws, regulations and rules, Corporations, Close corporations, Valuation, Closely held corporations, Capital gains tax

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Despite Judge Laro's guidance in Booth and Neonatology, recent letter ruling shows IRS still has problems understanding "419 plans"

Article Abstract:

The author discusses problems the IRS has in interpreting IRC section 419A(f)(6) pension plans as clarified in the US Tax Court's decisions in Booth and Neonatology Associates.

Trusts and trustees, Trustees, Trusts (Law)

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