In Revenue Procedure 2021-45 (RP-2021-45 (irs.gov)), the Internal Revenue Service announced annual inflation-adjusted tax rates for 2022, including provisions concerning estate and gift taxes.
Beginning in 2022, the...more
IRS Issues Proposed Temporary Clawback Regulations: Large gifts made under Tax Cut and Jobs Act won’t be clawed back when increased exclusions sunsets in 2025.
The 2017 Tax Cut and Jobs Act doubled an individual’s...more
The Internal Revenue Service and the Treasury Department released an updated Priority Guidance Plan outlining the regulatory projects that have become necessary in light of the passage of the 2017 Tax Cuts and Jobs Act (the...more
The IRS announced that the Unified Credit for Estates and Annual Exclusion for Gifts will be higher in 2018.
Unified Credit Against Estate Tax.
For an estate of any decedent dying in calendar year 2018, the basic...more