Detail Avoid Third-Party Transfers in A Divorce   Oleh:  Quinn, Tina Steward ; Smith, Keith W. Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 191 no. 1 (2001), page 24-28. Topik: DIVORCE; third - party transfers; divorce Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.12 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Divorce is never easy for any of the parties involved. The divorcing spouses must consider how the split will affect themselves, their children, the disposition of their marital property and other financial arrangements. CPA s need to be able to ease the transition by advising clients on the tax consequences of property settlements that take place as a result of the divorce. Under IRC section 1041, the transfer of property between spouses "incident to a divorce” is generally tax - free. However, when the transfer involves a third party such as a closely held corporation, the tax consequences may be less predictable. For example, Tom and Mary jointly own the Widget Corp. Under their divorce agreement, Mary agrees to accept $100,000 for her stock, which has a basis of $10,000. Instead of Tom buying the stock directly from Mary, they agree that Widget Corp. will redeem her stock for cash, leaving Tom as the sole shareholder. With a third-party redeeming the stock, which spouse should pay the tax on the appreciation of the stock’s value ? In cases involving spouses and their closely held corporations, the courts have held conflicting opinions on the answer to this question. A recent case, Read v. Commissioner, 114 TC No. 2 (2000), adds to the controversy - and confusion for CPA s - surrounding third - party transfers. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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