News & Analysis as of

Estate Tax Trump Administration

Estate taxes, also known as inheritance or death taxes, are taxes on an individual's right to transfer property at death.
Farrell Fritz, P.C.

The 2020 Elections Are Almost Over – What Now?

Farrell Fritz, P.C. on

Wither The Senate? I was reviewing a reorganization plan Saturday morning – coffee and chocolate chip cookies within easy reach – when an email crossed my screen with the subject line that each of NBC, CNN, ABC and the...more

Farella Braun + Martel LLP

Year-End Estate Planning in an Election Year

The 2020 election is less than a month away and year-end estate planning is already underway for many. Under current law, the estate, gift and GST (generation-skipping transfer) tax exemptions for 2020 are set at $11,580,000...more

Farrell Fritz, P.C.

The Election, The Democrats’ Tax Proposals, And Year-End Tax Planning: Caught Between Scylla And Charybdis

Farrell Fritz, P.C. on

What a Week- There is no denying that last week’s political events were historic; one can only hope they were aberrational. The week began with the Sunday New York Times publishing a story in which it claimed to have...more

Womble Bond Dickinson

2020 Candidate Tax Proposals

Womble Bond Dickinson on

We’re a little less than 50 days from the 2020 presidential election and many people are wondering what effect a potential change in leadership could have on their tax bill. If the Democrats take the White House many of the...more

Cozen O'Connor

The Clock Is Ticking on Estate and Gift Planning

Cozen O'Connor on

November’s election results could have a profound effect on the estate and gift tax laws. Among a number of significant issues are...more

Bilzin Sumberg

Move Forward with Your Estate Tax Planning Before it is Too Late

Bilzin Sumberg on

While it is hard to imagine there could be anything advantageous about today's uncertainties and depressed asset values, the following factors, coupled with historically low interest rates...more

Seyfarth Shaw LLP

An Electing Real Property Trade or Business can Revoke its Election on Account of the Change to Qualified Improvement Property...

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On April 10, 2020, the Internal Revenue Service (the “IRS”) issued Revenue Procedure 2020-22 (the “Revenue Procedure”), which (1) permits an “electing real property trade or business” that elected not to be subject to the...more

Blank Rome LLP

Five Tax Benefits that Might Go Away if President Trump Is Not Reelected

Blank Rome LLP on

As the calendar turns to another presidential election year, it’s never too early to start thinking about tax preparation as the next occupant of the oval office will likely have a major impact on the nation’s tax laws and...more

Polsinelli

IRS Confirms No “Clawback” for Gifts Made Under the Increased Estate and Gift Tax Exclusion

Polsinelli on

On November 26, 2019, the Treasury Department and the IRS issued final regulations under IR-2019-189 confirming that there will be no “clawback” for gifts made under the increased estate and gift tax exclusion put in place by...more

Brownstein Hyatt Farber Schreck

State of the Union – Tax and Infrastructure

On Tuesday, Feb. 5, President Donald Trump delivered the State of the Union address. The theme was “choosing greatness,” with President Trump discussing a range of topics from immigration and trade to foreign policy and space...more

Proskauer Rose LLP

Personal Planning Strategies - September 2018

Proskauer Rose LLP on

With over a century of combined experience, the lawyers of Proskauer's Private Client Services Department regularly provide their diverse clientele – from business entrepreneurs and corporate executives to sports figures and...more

Pullman & Comley, LLC

Future Connecticut Estate Tax Still Unclear after Two New Public Acts

Pullman & Comley, LLC on

Following the passage of the Federal Tax Cuts and Jobs Act in late 2017, the Connecticut legislature attempted to modify Connecticut estate tax law and make it more consistent with the new, much higher $11.2 million federal...more

Polsinelli

Impact of New Tax Laws on Estate Planning

Polsinelli on

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President on December 22, 2017, and represents one of the most significant rewritings of the federal tax code since 1986. ...more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part VIII: Charitable and Tax-Exempt Organizations / Estate and Gift Taxes

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Charitable organizations work hard to maintain exempt status. These organizations operate in a highly regulated landscape: In exchange for enjoying freedom from income taxes, they must comply with strict organizational and...more

Ruder Ware

More Planning Tips for Individuals Under New Tax Act

Ruder Ware on

As Shanna Yonke mentioned in her January 22, 2018 Legal Update The New Tax Law Provides Estate Planning Opportunities, President Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017. The Act (officially,...more

Akin Gump Strauss Hauer & Feld LLP

Dramatic Change to Federal Estate, Gift and Generation-Skipping Tax Exemptions

• Each individual’s exemptions from federal estate, gift and GST taxes have roughly doubled to approximately $11,200,000 • The increased exemptions are available only temporarily, through 2025 • We recommend that you...more

Bradley Arant Boult Cummings LLP

How the New Tax Law May Impact Your Estate Plan

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the “2017 Act”) which, among other items, made several changes to the federal wealth transfer tax system with respect to transfers occurring...more

Mintz

Favorable Changes to Estate, Gift and GST Tax Laws Under the Tax Cuts and Jobs Act

Mintz on

The Tax Cuts and Jobs Act (the “Act”), signed into law on December 22, 2017, significantly increased the exemption amounts for the federal estate, gift, and generation-skipping transfer taxes. These increases may present...more

Ruder Ware

The New Tax Law Provides Estate Planning Opportunities

Ruder Ware on

Shortly before Christmas, Congress approved and President Trump signed into law the Tax Cut and Jobs Act. The new law increases the federal estate, gift, and generation-skipping transfer tax exemptions from $5 million to $10...more

Gray Reed

New Tax Law – Impacting Your Small Business and You

Gray Reed on

Agreeing with Benjamin Franklin that there is nothing certain except death and taxes, Sketch Wood and his partner Minnie Brix, owners of Wood & Brix, and their 200 employees are certain that the new tax law will affect them,...more

Jackson Walker

Nate Smithson Provides an Update on Tax Reform

Jackson Walker on

Jackson Walker partner Nate Smithson has prepared an updated guide to tax reform which reflects the senate’s newly-proposed tax bill. The guide covers tax brackets, deductions, capital gains, and other relevant topics in tax...more

Schwabe, Williamson & Wyatt PC

CPA Shoptalk: 8 Takeaways

On January 10th, 11th and 18th our tax attorneys ?hosted a "CPA Shoptalk" seminar in ?Portland, Vancouver and Bend. Below are ?some key takeaways to consider... 1. Partnership Audit Rules Post-TEFRA - The Balanced...more

Davis Wright Tremaine LLP

Trump Administration Signs 2017 Tax Act

On December 22, 2017, President Trump signed a tax bill that had been passed by the Senate and House called “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for...more

Roetzel & Andress

New Tax Changes: The Tax Cuts And Jobs Act

Roetzel & Andress on

The Tax Cuts and Jobs Act (“Act”) (P.L. 115-97) signed into law by President Trump on December 22, 2017 and effective for tax years starting January 1, 2018 reflects a compromise between the House and Senate Bills as...more

Ballard Spahr LLP

Analysis of Key Provisions of the Tax Cuts and Jobs Act

Ballard Spahr LLP on

As we are sure you know, H.R. 1, informally known as the Tax Cut and Jobs Act, became law on December 22, 2017. This new law will impact almost all taxpayers. Ballard Spahr's Tax Group has prepared a detailed summary of...more

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