If his or her financial situation has changed, the survivor can disclaim
the retirement benefits when the first spouse dies.
The procurement regulations, which were issued by the Maryland Board of Public Works, would require State contractors to disclaim
a deduction for royalties and similar payments to affiliated companies unless those affiliated companies reported those payments as income on a Maryland tax return.
A surviving spouse can disclaim
all or part of an interest in an inherited IRA and allow it to pass to younger contingent beneficiaries.
In fact, this refusal is ordinarily sufficient to cause the auditor to disclaim
an opinion or withdraw from the engagement.
Recently, in Letter Ruling 200127007, the IRS had to consider whether estate beneficiaries could disclaim
a benefit bequeathed to them by the decedent that they would not have to share in the payment of estate taxes generated by the estate.
If beneficiaries disclaim
their interests, more assets may be included in the surviving spouse's share, which then will not be subject to taxation because of the marital deduction.
In early 1993 (and several times thereafter), H indicated to his son D that he would disclaim
the assets in W's name.
The estate's accounting firm recommended 29 of these people disclaim
their gifts to increase the estate's marital deduction, thereby reducing the estate tax.
Given this climate, beneficiaries owing back taxes have recently elected to disclaim
bequests or inheritances with full knowledge that any assets received might be levied on and seized by the Service.
EMC and Dell disclaim
any obligation to update any forward-looking statements after the date of this release.
D emphasizes his undoubted right under Arkansas law to disclaim
the inheritance, a right that is indeed personal and not marketable.
In some situations, it may be advisable for the taxpayer to disclaim
his beneficial interest to avoid subjecting the inheritance to the tax hen.