Elaine Gagliardi on Consistent Basis Reporting: Are Proposed Regulations Consistent with Congress's Basis for Enactment? (PDF)
In this EIA, Prof. Elaine Gagliardi discusses the purposes underlying enactment of the basis consistency rules and reporting requirement as acknowledged by IRS, and sets forth details of the proposed regulatory scheme. It analyzes the proposed regs as to whether: (1) a more time and cost efficient method exists to protect the interests of the IRS, and (2) the regulatory requirements fall within the authority granted by Congress to issue regs.
Elaine Gagliardi is a Professor at the University of Montana, Blewett School of Law. She is a member of both the American College of Trust and Estate Counsel and the American College of Tax Counsel. She co-authors Modern Estate Planning, 2nd Ed. (LexisNexis) and currently authors How to Save Time and Taxes Handling Estates (Matthew Bender).
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