The IRS recently announced the Applicable Federal Rates (“AFR”) for April 2020:
..the “short-term” rate is 0.91%;
..the “mid-term” rate is 0.99%;
..the “long-term” rate is 1.44%....more
In a recent Notice, the Internal Revenue Service set forth some administrative procedures helping taxpayers recalculate gift and generation-skipping transfer tax exemption with respect to gifts and bequests made to or for the...more