Press Room
Hogan Quoted in Bloomberg Article on Trusts and Estates
Andersen Managing Director James Hogan was recently quoted in an article by Bloomberg Tax. The article IRS Rules Would Make Managing Trusts, Estates More Efficient provides insight on recent regulations released by Internal Revenue Service that certain deductions for trusts and estates are available despite the 2017 tax law's short-term suspension of miscellaneous itemized deductions. The regulation also require fiduciaries to separate expenses that create excess deductions. Hogan commented that these new rules will help trustees and executors become more efficient and without this recent change, fiduciaries may be incentivized to keep a trust or estate open until deductions could be used against income.
James Hogan has over 36 years of legal and accounting experience and was most recently a Branch Chief in Internal Revenue Service’s (IRS) Office of the Chief Counsel. In that role, he had responsibility for all matters relating to estate, gift, and generation-skipping transfer tax issues. In addition, he reviewed briefs filed by IRS in the United States Tax Court and memoranda to attorneys in the Department of Justice.
May 12, 2020
Bloomberg Tax