Corrections


In the October 2009 article “The Generation- Skipping Transfer Tax: A Quick Guide” (page 30), in a passage regarding transfers to an irrevocable life insurance trust, the text should have said that a transfer that qualifies for the annual gift exclusion may also qualify for a generation-skipping transfer tax exclusion but will not in every case.

 

In the October 2009 “From The Tax Adviser” column (page 76), in the second bullet point describing who must pay estimated taxes, the phrase “110% if the prior-year tax liability was greater than $150,000” should have read “110% if the prior-year adjusted gross income was greater than $150,000.”

 

SPONSORED REPORT

2019 State of Financial Reporting Survey

We surveyed nearly 600 finance and accounting professionals on their month-end close and reporting processes. See the results.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.