The Internal Revenue Service recently announced increased transfer tax exclusions for calendar year 2024 as part of Revenue Procedure 2023-34. The significant increases in the unified credit against estate, gift and...more
Leveraging QPRTs in a High Interest Rate Environment -
A Qualified Personal Residence Trust, or “QPRT” is a planning strategy specifically authorized in the Internal Revenue Code that allows an individual to remove a...more
The Financial Crimes Enforcement Network (“FinCEN”), a unit of the U.S. Treasury, is mandated with protecting the U.S. financial system from illicit use by making it more difficult for bad actors to conceal their financial...more
The Internal Revenue Service recently announced the federal income tax filing due date for individuals for the 2020 tax year will be extended automatically from April 15, 2021, to May 17, 2021. However, this announcement did...more
The current economic environment may be an opportune time to implement certain planning techniques that could be enormously beneficial to you and your family from an estate and tax planning perspective. There are at least...more
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published proposed regulations on August 25, 2016 that would require certain private trust companies utilized by high net worth individuals,...more
9/7/2016
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Beneficial Owner ,
BSA/AML ,
Comment Period ,
Customer Due Diligence (CDD) ,
Customer Identification Program (CIP) ,
Financial Institutions ,
FinCEN ,
High Net-Worth ,
Investors ,
Legal Entities ,
Private Trust Companies
The Internal Revenue Service (IRS) released regulations on August 2, 2016 that would limit the use of discounts when valuing interests in family entities for estate, gift and generation-skipping transfer tax purposes. If...more
8/10/2016
/ Bright-Line Rule ,
Business Valuations ,
Closely Held Businesses ,
Estate Tax ,
Family Businesses ,
Generation-Skipping Transfer ,
IRC Section 2704 ,
IRS ,
Limited Liability Company (LLC) ,
Limited Liability Partnerships ,
Transfer Taxes ,
Wealth Management