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

TECHNOLOGY

2018 tax software survey

Among CPA tax preparers, tax return preparation software generates often extensive and ardent discussion. To get through the rigors of tax season, they depend on their tax preparation software. Here’s how they rate the leading professional products.

DEDUCTIONS

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.