Steve Gorin

Private Letter Rulings

Among private letter rulings Steve has obtained from the IRS' national office:

Obtained ruling regarding cleanup of qualified subchapter S trust drafted by another attorney to facilitate a sale to a strategic buyer for a couple hundred million dollars. (Steve later reviewed drafts of trust income returns prepared by the client's CPA and, in only a few hours of review and analysis, saved the trusts tens of thousands of dollars of income tax from the sale.)

Obtained Private Letter Ruling 200747002 from the Internal Revenue Service for using a limited liability company to hold life insurance used to fund a cross-purchase buy-sell agreement.

Comments to the IRS

As to how the Code Section 469 passive loss rules should apply to trusts and estates, Steve was the Task Force Chair for the American College of Trust and Estate Counsel (ACTEC) (comments submitted 9/24/2015) and a Task Force Member for the Section of Taxation of the American Bar Association (ABA) (comments submitted 1/20/2015).

In regard to Proposed Regulation Section 1.1411-7, relating to the impact of the 3.8% tax on net investment income as it applies to Qualified Subchapter S Trusts, Steve submitted comments on behalf of the ABA Real Property, Trust & Estate Law Section (2/25/2014) and the ACTEC (2/26/2014).

Testimony before the ERISA Advisory Committee of the Department of Labor

Testified on an estate planner's perspective on retirement plan beneficiary designations (8/9/2012).

ABA Advisor for the 2008 Amendments to Sections 409 and 505 of the Uniform Principal and Income Act

Worked with the Uniform Law Commission and related stakeholders in putting together (a) changes to trust rules to enable trustees to better handle a disconnect between taxable income (and a trust's related tax liabilities) and income distributable to beneficiaries (disconnect can arise when a mandatory income trust owns part of a partnership or S corporation), and (b) rules when a marital deduction trust owns an IRA or other retirement plan.

Comments to U.S. Senate Finance Committee and Internal Revenue Service on S Corporations

Submitted comments (October 2005) on behalf of a task force of the Business Planning Group of the Real Property, Probate and Trust Section of the ABA on S Corporation Family Attribution Rules. The comments to the U.S. Senate Finance Committee were reflected in the Gulf Opportunity Zone Act of 2005.

Comments to Tax Counsel of U.S. Senate Finance Committee on Code Section 6166

Chaired July 2005 task force of the Business Planning Group of the Real Property, Probate and Trust Section of the ABA on Code Section 6166, which allows estate taxes on qualified closely held business to be paid in installments. These comments were published in Vol. 41, No. 1 Spring 2006 of the Real Property, Probate and Trust Journal, pages 73-121.

Comments to IRS on Proposed Regulations Governing Allocation of Generation-Skipping Transfer Exemption for Indirect Skips

Participated in 2004 joint task force consisting of the Generation Skipping Transfers committee of the Real Property, Probate and Trust Section of the ABA and its ACTEC counterpart.

TCLEs

Gift Tax Return Adequate Disclosure; Constructive Dividends; Transferee Liability July 25, 2023

Liens from Deferred Estate Tax; Grantor Trusts & Basis Step-Up; Gifts of Business Interests April 24, 2023

Fiduciary Income Tax Refresher and Update 2023 February 14, 2023

Preserving Income Tax Benefits from Estate Tax Audits; S Corporation Sales; Partnership Redemptions January 31, 2023

Loan Guarantees; Debt in Capital Structure; Ordinary Income on Sale of Business October 25, 2022

State Tax in Estate Planning; Employment Tax; Blockers; S Corporation Single Class of Stock July 26, 2022

Basis Step-Up by Trust Modification; BDOT by Trust Distribution; Preferred Partnerships Preferred to Fees April 26, 2022

Fiduciary Income Tax Refresher and Update 2022 March 3, 2022

IRS Procedural Update; Buy-Sell Development; Loan Guarantees January 25, 2022

Note Modifications; Reorganizing Private Business; Trust Sale of Business Interests October 26, 2021

Business Owner Compensation vs. Distribution; Modifying Trusts or Their Investments in Light of Proposed Income Tax Changes July 27, 2021

Business Opportunities; TP Asserts Substance over Form; Unincorp. Entity as S Corp April 27, 2021

Fiduciary Income Tax Refresher and Update 2021 February 18, 2021

Sales Between Trusts; Writing Off Business Interests; Partnership Audit Rule Update January 26, 2021

When a Gift Is Subject to Income Tax; Beneficiary Deemed-Owned Trusts; Making Large Taxable Gifts October 27, 2020

Pass-Through Entities Held by Trusts; Formula Transfers in Estate Planning; Business Gifts July 28, 2020

Overview of Loss Limitations; Family Office Partnership; Sale to Spousal Grantor Trust April 28, 2020

Fiduciary Income Tax Refresher and Update 2020 February 5, 2020

Sale of Interest in Trust; Negative Capital Accounts; Final Regs on Transfer for Value January 28, 2020

Code § 199A Safe Harbor for Rental Real Estate; Partnership Structural Issues; Sale of Intangible Assets October 29, 2019

State Fiduciary Income Tax (Kaestner); S Corp. Ownership; Basis Step-Up Strategies July 23, 2019

Final Regulations and Other Recent Guidance under Code § 199A; Life Insurance Income Tax Developments April 23, 2019

Fiduciary Income Tax Refresher and Update 2019 February 12, 2019

Planning for Business Exits from C Corporations; Intrafamily Business Transactions; Other Developments January 29, 2019

Effective Business Income Tax Rates in Light of 2017 Tax Law Changes December 7, 2018

Planning Using the Proposed Regulations under IRC §§ 199A and 643(f) October 30, 2018

Cahill 2036, 2038, 2703; Mazzei Disregards Corporate Arrangements; Investment Partnership Traps July 31, 2018

Partnership Audit Rules; Effects of Tax Reform; Using a Business Entity to Help Defray Fees April 24, 2018

Fiduciary Income Tax Refresher and Update 2018 February 14, 2018

Strategic Planning for Business Entities after 2017 Tax Reform January 30, 2018

Defined Value Clauses; S Corp. Distribution of Property; Traps Donating a Business to Charity October 31, 2017

Leveraging to Attain Basis Step-Up; Income Tax Benefits of Losing an FLP Case July 11, 2017

Landmark SE Tax Case; Post-Mortem Planning; Grantor Trust Reimbursement April 25, 2017

Fiduciary Income Tax Refresher and Update February 14, 2017

Self-Employment Tax and LLCs; New Partnership Audit Rules; Selected Issues from Heckerling January 24, 2017

Business Planning in Light of Proposed Regulations under Code § 2704 October 27, 2016

Life Insurance to Fund Buyouts or Loss of a Key Person September 29, 2016

Thompson Coburn Publications

CARES Act implications for charitable giving during COVID-19 March 31, 2020

The 2020 repeal of stretch IRAs: How will it affect estate planning? December 26, 2019

Sweeping tax reform necessitates review and analysis of form of entity May 3, 2018

Proposed changes to Section 2704 could spur tax increase for owners of closely held businesses September 15, 2016

The Latest Beneficiary Grantor Trust — PLR 201039010 July 10, 2011

Blogs

Life insurance death benefit may be subject to income tax December 5, 2019

Basis step-up: Planning for married couples August 7, 2019

Highlights from the Simply Tax podcast: How to choose an entity for a family business January 18, 2019

Unpacking the new qualified business income deduction for real estate rentals October 10, 2018

Converting from an S corporation to a C corporation – Don’t do it the simple but wrong way March 12, 2018

New partnership audit rules can apply to partnerships, LLCs with only a few partners, members August 14, 2017

Developments in FICA and self-employment tax affect partners and S corporations July 11, 2017

IRS gets upper hand in S corporation compensation audits June 27, 2017

Tax court finds self-employment tax for active LLC member May 25, 2017

Using an S corporation to avoid self-employment tax April 25, 2017

Publications

A full list of Steve's publications is available at
thompsoncoburn.com/stevegorinresume.

"Trustee Material Participation in Businesses: A Surprising Way to Overcome TAM 201317010 and Avoid the NII Tax," co-authored with Richard E. Barnes,
Probate & Property March/April 2015

"A Balanced Solution: Meet Your Clients' Needs for a Comfortable Retirement Cushion Through a Sale to a Beneficiary Grantor Trust and Reduce Assets Enough to Avoid Taxes";
Trust & Estates, May 2011

Co-Author, "Exit Planning for Professionals"; with Daniel H. McCarthy and William P. Prescott,
Probate and Property, January/February 2014

"S Corporations: Tax Planning for Transitions"; co-authored with Daniel H. McCarthy and William I. Sanderson,
Probate & Property, July 2012

"Using Partnerships to Distribute Corporate Assets";
Journal of Real Estate Taxation, September 2010

"Transfer of Family Business Interests: Finding the Sweet Spot Between General Income Tax, Chapter 14, and I.R.C.409A";
Estate and Personal Financial Planning, Part I, Sept. 2006; Part II, Oct. 2006

Co-Author, "Checklists for Determining Whether a Trust is a Valid S Shareholder";
The Tax Advisor, March 2006; pp. 152-157

"The Brass Tacks of Corporate Buy-Sell Agreements"; co-authored with Denise Brunson Schuh (feature article),
Probate & Property, (Vol. 18, No. 1, January-February 2004, pp. 8

Presentations

A full list of Steve's speaking engagements is available at thompsoncoburn.com/stevegorinresume.

"Income Tax Exit Strategies from Businesses" and "Use and Drafting of Buy-Sell Agreements";
ABA Real Property, Trust & Estate Law Section, Advanced Skills Training for Estate Planners, July 2013, 2014, 2015

"Tax Planning for 2014 and 2015: Ideas and Strategies to Consider Now, Including 10 Ideas in 10 Minutes";
ABA Real Property, Trust & Estate Law Section, December 2014

"Tricks and Traps for Trusts Owning Stock in S Corporations";
ABA Real Property, Trust & Real Estate Law Section eCLE, April 2014

Chair and Panelist, "The Ascendancy of Income Tax Planning,"
American College of Trust and Estate Counsel Annual Meeting

Chair and Panelist, "For Estate Planners: Business Income Tax Issues 101";
American College of Trust and Estate Counsel telephone CLE, February 2014

Panelist, "Succession Planning for Family Corporations Using ESOPs and Other Techniques to Resolve Conflicting Goals";
American College of Trust and Estate Counsel Summer Meeting, 2009

Panelist, "The Annotated ACTEC Shareholders Agreement";
American College of Trust and Estate Counsel Annual Meeting, 2007

Chair and Presenter, "Transfer of Family Business Interests: Finding the Sweet Spot Between General Income Tax, Chapter 14, and Code 409A";
American College of Trust and Estate Counsel Summer Meeting, 2006

"Planning Strategies That Reduce Both Income Taxes and Estate Taxes";
University of Miami School of Law Heckerling Institute of Estate Planning, 2015

News

Steve Gorin receives Distinguished Estate Planner Award from Estate Planning Council of St. Louis June 29, 2021

Steve Gorin elected into National Association of Estate Planners & Councils Estate Planning Hall of Fame December 2, 2020

Congratulations to our 2021 Best Lawyers ‘Lawyers of the Year’ and ‘Ones to Watch’ August 20, 2020

Congratulations to our 14 ‘Lawyers of the Year’ for 2019 August 15, 2018

Steve Gorin honored as ‘Unsung Hero’ by St. Louis Jewish Light May 30, 2018

Bloomberg publishes Steve Gorin article on taxing trust income November 10, 2017

Congratulations to our 14 'Lawyers of the Year' for 2018 August 18, 2017

More than 50 attorneys named to 2012 Missouri Bar Pro Bono Hall of Fame June 28, 2013