In NC Department of Revenue v. The Kaestner Family Trust, the Supreme Court determined whether the US Constitution’s due process clause prohibits states from taxing trusts based on trust beneficiaries’ in-state residency. In this episode, Bob Keebler, CPA/PFS interviews Anna Moody and David O’Neill answers the questions:
What was the Supreme Court’s ruling?
In which states will CPAs likely file amended returns or protective claims?
In what situations should CPAs advise clients to seek a refund from the state?
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