Lesson From The Tax Court: The Misunderstood Trust Fund Recovery Penalty (TaxProf Blog) - The tax code imposes on several groups of persons the responsibility to collect, account for and pay over to the government various taxes imposed on other persons. These are known as "trust fund" taxes because §7501(a) says that the money so collected is held in trust for the United States until it is paid over.
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New York, Connecticut Taxpayers Have Plan B Options to Beat SALT (Accounting Today) - Taxpayers in New York and Connecticut still have a few potential options to avoid the hit from a new cap on state and local tax deductions, while residents of other high-tax jurisdictions may only have creative estate planning as a last resort.