Ideas & Insights

The Internal Revenue Service issued proposed regulations establishing a user fee to request estate tax closing letters.

The Act’s significant implications for individuals’ retirement and estate planning suggests that they consult with their advisors…now

IRS confirms that gifts between 2018 and 2025 will be covered by the exemption then in place and not in the year of death.

The IRS released Revenue Procedure 2019-44 listing the inflation adjustments for individual, trust and estates.

High court allows Minnesota Supreme Court decision finding so-called “grantor-domicile” rule unconstitutional to stand.

Highly-anticipated trust taxation case considers whether a state can tax a trust based on the residency of a beneficiary.

Rules clarify how S corporation income allocated to an ESBT will be taxed when a trust beneficiary is a nonresident alien.

Justices express concern over North Carolina’s tax on the undistributed trust income earned for the benefit of a resident.

The filing instructions released earlier this month for Forms 706 and 709 indicated a change in the mailing address.

Proposed regulations confirm that tax-free gifts made between 2018-2025 will not end up being taxable after 2025.

The Tax Section of the State Bar of Texas addresses fiduciary income tax concerns in a comment letter on the proposed 199A regulations.

Good news and bad news…ESBTs qualify for the section 199A deduction but anti-abuse provisions would curtail use of multiple trusts.

A practical look at how individuals can understand the impact of TCJA on their planning and what steps they might consider in response.

Two months after TCJA became law, we can now calibrate the outer limits of 2018 wealth transfers with precision, not approximation.

An uptick in key interest rates suggests that now is the time to take advantage of the planning opportunities created by the new tax law.

Repealing the estate tax but keeping the gift tax will complicate wealth transfer planning. But there are ways to avoid big mistakes.

Rev. Proc. 2017-34 makes it easier (and cheaper) to obtain an extension to elect portability of decedent spouse’s unused exclusion.

This slight reprieve in the upward trend of rates keeps the window open for wealth transfer on a gift tax-efficient basis.

Repeal of the estate tax would have immediate impact on the fundamental components of a business owner’s succession plan.

IRS clarifies definition of spouse, husband and wife, and marriage for federal income, gift, estate and employment tax purposes.