Blogs > Trusts, Estates, and Tax, Oh My

Sep 22, 2022

IRS Extends Time to Elect Portability

In 2010, the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act of 2010 for the first time permitted the estate of a decedent who dies leaving a spouse to elect to transfer the decedent’s unused exclusion amount (“DSUE”) to the surviving spouse.» Read More

Mar 31, 2021

Tax Reform: 2021 Edition

It’s 2021. COVID vaccines are being administered, the election is over, the electoral college votes have been certified, and the Georgia runoff has been concluded. We know that Joe Biden is the President, the House is controlled by the Democrats, and the Democrats hold a razor-thin margin that depends on a Vice Presidential tiebreaker and complete loyalty from the Democratic caucus.» Read More

Nov 02, 2020

Estate Planning Strategies: IRS Applicable Federal and 7520 Interest Rates Lowered

Every month, the Internal Revenue Service (IRS) publishes interest rates that taxpayers use to determine the interest to be charged in income tax and estate planning strategies. Those published rates, called the Applicable Federal Rates, depend on the length of the term of a promissory note, the number of times interest is paid each year (i.e.,» Read More