Estate tax

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 1

This is the first in a two-part series examining developments in estate, gift, and generation-skipping transfer tax and trust income tax. Part 1 discusses legislative and gift and estate tax developments.

Executor Not Liable as Fiduciary for Unpaid Estate Tax

Practitioners who assist clients with preparing estate tax returns should make sure that they know the very real danger they face if distributions are made from the estate before all the federal estate taxes are paid.

Newsletter Articles

SPONSORED REPORT

States look to unclaimed property for revenue

State audits of abandoned and unclaimed property (AUP) have exploded in recent years. This report outlines the escheat process, common types of AUP, how different states are handling it and how companies can plan for potential audits and liabilities.

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.