May 2008

Briefing

10/ Tax Law Update

David A. Handler, partner in the Chicago office of Kirkland & Ellis LLP, reports on: How much estate and gift taxes contribute to funding the federal government • PLR 200813023 finding a CRT can split unitrust payments between a grantor and a charity • PLR 200814011 finding a “backwards” QPRT qualifies as a QPRT • the IRS’ proposed regulations on time extensions for GST exemption allocations • the Tax Court’s decision in Estate of Anna Mirowski v. Commissioner.

16/ Giving in America

David T. Leibell and Daniel L. Daniels, partners in the Stamford, Conn., office of Wiggin & Dana LLP, say the IRS has published an article that everyone practicing in estate and philanthropic planning should keep close at hand. It’s rare to find this much valuable data about tax-exempt organizations in one place—and even rarer to find such data placed in the context of the historical development of the tax-exempt sector.

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