The State of The Estate Tax

January 06, 2022

The State of The Estate Tax 2021 was aflutter with drama about the future of the estate and gift tax. Yet despite all the proposals that floated through both chambers of Congress, the estate tax is ending the year right where we started -the only change is to account for inflation. Why was there such… Read more »

Tax-related identity theft is a concern during holiday season warn the IRS

November 30, 2021

Tax-related identity theft is a concern during holiday season warn the IRS The Internal Revenue Service, state tax authorities and the tax preparation industry are working to highlight the dangers of tax scams and identity theft at this time of year calling it National Tax Security Week. Taxpayers and tax professionals need to beware of… Read more »

What is the Federal Estate Tax?

January 30, 2017

Learn the Facts: Federal Estate Tax At the end of 2010, Congress passed the ‘‘Tax Relief, Unemployment Insurance Preauthorization, and Job Creation Act of 2010.” Special provisions apply to those who died in 2010. In 2011 and 2012, there was an exemption amount from federal estate tax of $5 million and $5.12 million per person… Read more »

Avoid the Estate Tax and Gift Tax and Still Make Lifetime Gifts?

January 26, 2017

How can I avoid the estate tax and gift taxes and still make gifts During my lifetime? Gifts can be categorized as present interest or future interest gifts. A present interest gift means the person receiving it has immediate possession or enjoyment of the gift. A future interest gift is the opposite of a present… Read more »

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