Law Offices of Stuart Levine, LLC

IRS Guidance on Digital Submissions.  The IRS has issued guidance on (i) approval to accept images of signatures and digital signatures and (ii) approval to receive documents and transmit encrypted documents by email. I have posted the guidance.        Posted 11/26/2021

Foreclosure Sales.         The IRS has issued guidance on (i) approval to accept images of signatures and digital signatures and (ii) approval to receive documents and transmit encrypted documents by email.  I have posted the guidance.    Posted 11/22/2021

Taxable IRA Distributions Taxpayers established self-directed IRAs and had the IRAs form single member LLCs of which they were the managers. With funds from pre-existing IRA assets that were liquidated, the LLCs purchased gold American Eagle coins. The Court held that the taxpayers had taxable distributions from the IRA when they received physical custody of the coins “irrespective of [the taxpayers’] status as the [LLC’s managers.]” The Court also sustained accuracy-related penalties against the taxpayers.

The case is Andrew and Donna McNulty Posted 11/19/2021

Involuntary Commitment in Maryland The Maryland Court of Special Appeals has issued a decision in J.H. v. TidalHealth Pennisula Regional, Inc., that reviews the standards and procedures for involuntary commitment. While many of you are not lawyers, you may, from time to time, have the need to be familiar with these procedures due to the illness of relative or loved one.  Posted 11/18/2021