The 2010 Tax Relief Act and your estate plan
In October, the IRS dropped its appeal of the Tax Court decision in Wandry v. Commissioner, T.C. Memo 2012-88. That does not mean the IRS accepts the holding of the Court. In fact, the IRS just announced that it will not do...more
Now that the election is over, we anticipate having some guidance soon with respect to the numerous tax and planning issues that have been mired in uncertainty for the past two years. Many tax benefits are scheduled to...more
Originally published in Tax Management Estates, Gifts, and Trusts Journal, x, 11/08/2012.
The current tax environment suffers from a lot of economic and political uncertainty. The general consensus...more
In This Issue:
- Use It or Lose It - Increased Gift and GST Exemption Amounts Expire on 12/31/12
- Income Tax Deductions for Charitable Donations May Be Denied Without a Qualified Appraisal Mohamed v....more
The last three years have witnessed substantial changes in federal estate and gift tax laws and more changes are undoubtedly coming. Such changes offer a number of opportunities for clients to achieve their estate planning...more
Bay Area families that have yet to take advantage of the current gift tax exemption are running out of time. As of midnight on December 31, 2012, the $5 million exemption disappears and will be replaced by a $1 million...more
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