IRS proposes to amend estate and gift tax basic exclusion regs.
Exceptions to the special rule allowing the temporarily higher basic exclusion amount to apply to gifts credited against estate tax.
Gift Tax
10 common Form 709 mistakes
While it may take some finesse to report the most complicated transactions on Form 709, you do not have to be a gift tax specialist to be aware of 10 common return preparation mistakes.
Indirect gift tax considerations for 2021
It is important to consider some of the less-obvious gifts when you are advising clients who are intent on using up their full $11.7 million basic exclusion amount before the end of the year.
Recent developments in estate planning: Part 1
This first part of this annual update focuses on trust and gift tax issues.
AICPA recommendations on Q1 estimates and 2020 Form 709 extensions
The AICPA has released some recommendations for practitioners concerning various issues that have arisen due to the postponement of the April 15 tax deadline for individuals.
Unprecedented opportunities in gift planning
For clients who are projected to have a federally taxable estate and desire to gift assets to heirs, now may be the right time to implement planning strategies
Recent developments in estate planning: Part 1
This first part of the annual update covers trust and gift tax issues, including regulations explaining deductions permitted for trusts and estates after the TCJA eliminated miscellaneous itemized deductions for individuals.
Gift and GST returns added to postponed tax and filing deadlines
The IRS postponed the payment and return filing requirements for gift and generation-skipping transfer taxes due April 15 to July 15, matching prior postponements granted to federal income taxes and returns.
Seize the increased basic exclusion amount
Taxpayers can obtain unique benefits when it comes to gift and estate tax planning by using trusts and taking advantage of applicable valuation conventions.
IRS rules eliminate estate and gift tax clawback
The IRS issued final regulations that reconcile the current higher exclusion for the estate and gift tax unified credit amount in effect under the TCJA with the lower unified credit scheduled to go into effect in 2026.
Final regs. eliminate estate and gift tax clawback
The IRS issued final regulations that reconcile the current higher exclusion for the estate and gift tax unified credit amount in effect under the law known as the Tax Cuts and Jobs Act with the lower unified credit, which is scheduled to go into effect in 2026, eliminating a possible future clawback of the higher exclusion amount.
Recent developments in estate planning: Part 2
This second part of a two-part article covers court cases, proposed regulations, and other IRS guidance issued over the last year on gifts and estates.
Charitable gift arrangements that provide alternatives to a private foundation
Allowable charitable contribution deductions and control over donated funds are key factors for taxpayers to weigh when considering alternatives to private foundations.
IRS proposes rules on estate and gift tax clawback
The IRS addressed issues and made conforming revisions arising from the temporary increase in basic exclusion amount for estate and gift tax enacted by legislation known as the Tax Cuts and Jobs Act.
Estate and gift exclusion clawback addressed in proposed regs.
The IRS addressed issues and made conforming revisions arising from the temporary increase in basic exclusion amount for estate and gift tax enacted by legislation known as the Tax Cuts and Jobs Act.
Recent developments in estate planning: Part 1
This first of a two-part article discusses legislative, gift, and estate tax developments.
Recent developments in estate planning: Part 1
This first of a two-part article discusses gift and estate tax developments.
Valuation of family-owned entities for estate and gift tax purposes under Sec. 2704
This article discusses the rules governing the effects of lapses and restrictions on voting or liquidation rights of owners on the valuation of family-held entities.
Sale of a residence in a QPRT
This item explores what happens if the residence is sold during the QPRT term.
IRS notice permits recalculation of marital deductions for same-sex couples
The IRS provided the procedures same-sex married couples should use to recalculate the transfer-tax treatment for property transferred to spouses.
