IRS Alert: The Internal Revenue Service (“IRS”) recently issued Revenue Procedure 2022-32 which provided surviving spouses extended relief to make “portability” elections without the need for the issuance of a private letter...more
On September 13, the House Ways and Means Committee released a proposed plan to pay for the $3.5 trillion Build Back Better Act (the “Act”). The proposed legislation contains a variety of changes across the tax code, but the...more
With the introduction of the “For the 99.5% Act” proposed by Senator Bernie Sanders, there is an increased likelihood for sweeping federal estate and gift tax reforms occurring during the latter part of 2021. The proposed...more