Estate tax exemption

QTIP Election Permitted Together With Portability

The IRS will treat a QTIP election as valid in certain situations, including where an executor of an estate makes a portability election to transfer the decedent’s unused applicable exclusion amount.

Recent Developments in Estate Planning: Part II

This is the second in a two-part article examining developments in estate, gift, and generation-skipping transfer (GST) tax and compliance between June 2012 and May 2013. This part covers developments in estate tax and GST tax.

Form 706 and Instructions Provide Guidance on Portability Election

The IRS posted Form 706 and its final instructions, which provide guidance for electing the portability of a deceased spouse’s unused estate and gift tax exclusion amount and for the executor’s use of the check box to opt out of electing portability of the unused portion of the exclusion amount.

Newsletter Articles

SPONSORED REPORT

CPEOs provide peace of mind around payroll services

The creation of these new IRS-certified service providers for small businesses clarifies some issues around traditional professional employer organizations.

PRACTICE MANAGEMENT

2016 Best Article Award

The winners of The Tax Adviser’s 2016 Best Article Award are Edward Schnee, CPA, Ph.D., and W. Eugene Seago, J.D., Ph.D., for their article, “Taxation of Worthless and Abandoned Partnership Interests.”