Gift-Tax Return

Sooner Rather Than Later For Gift Tax Returns

by Charles (Chuck) Rubin on 1/21/2013

Late 2012 saw an unprecedented amount of gifting, as taxpayers sought to use up their unified credit before it was slated to shrink up in 2013. As a result, the IRS should be swamped with gift tax returns for 2012. Taxpayers...more

Estate Planning After the Fiscal Cliff Deal

by Katten Muchin Rosenman LLP on 1/17/2013

Now that a deal averting the fiscal cliff has finally been reached, many of the tax and planning issues that have been mired in uncertainty for the past two years (and even longer in some cases) may be resolved. Numerous tax...more

Wealth Management Update Newsletter - January 2013

by Proskauer Rose LLP on 1/10/2013

We Didn't (Quite) Fall off the Cliff, But We Still Have To Clean up the Mess! When the clock struck midnight on December 31, 2012, estate planning practitioners said "good night" to an unprecedented period of working...more

Late Gift Filing Could Not Use Unified Credit

by Charles (Chuck) Rubin on 12/17/2012

In a recent Chief Counsel Advice, a taxpayer made a gift in the prior year, but did not file a gift tax return. The taxpayer later died. On the estate tax return for the taxpayer, the earlier unreported gift was reported....more

Insight on Estate Planning - Year End 2012

by Adler Pollock & Sheehan P.C. on 12/6/2012

In This Issue: - The spousal lifetime access trust: A safety net in uncertain times - Be prepared for a triggering event: If you own interests in a closely held business, consider a buy-sell agreement - Is your...more

Estate Planning Pitfall: You’re unsure whether you need to file a 2012 gift tax return

by Adler Pollock & Sheehan P.C. on 12/5/2012

Anyone transferring anything of value to another person during 2012 needs to consider whether it’s necessary to file a gift tax return. Some transfers require a return even if no tax is owed. And, in some cases, it’s...more

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