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Estate Planning › Revenue Procedures › Estate Tax

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Opportune LLP

5 Crucial Valuation Elements for Gift and Estate Tax

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Over time, personal and corporate income taxation tends to receive most of the media's and the public's attention. However, it’s important to remember that gift and estate taxes can also profoundly impact an individual’s...more

Keating Muething & Klekamp PLL

Fall 2022 Estate Planning Update

Keating Muething & Klekamp PLL on

This Estate Planning Update reviews the newly-released estate tax exemption and gifting adjustments for 2023, the extended deadline to make a portability election, and simple ways that business owners and professionals can...more

Tucker Arensberg, P.C.

Updated 2022 Estate and Gift Tax Rates

Tucker Arensberg, P.C. on

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

Williams Mullen

Estate Planning Inflation Related Adjustments for Tax Year 2021

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Many estate planning provisions of the Internal Revenue Code contain brackets, exemptions, exclusions, deductions, or other figures that the Internal Revenue Service (IRS) adjusts annually for inflation. Recently, the IRS...more

Cozen O'Connor

The Clock Is Ticking on Estate and Gift Planning

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November’s election results could have a profound effect on the estate and gift tax laws. Among a number of significant issues are...more

Farrell Fritz, P.C.

Wills, Trusts & Estates: Plain and Simple – Estate and Gift Taxes for 2020: Is It Better to Make A Large Gift Sooner Rather Than...

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Under the federal tax law, the amount of each person’s federal estate and gift tax exemption, combined, is $11.58 million in 2020 (and scheduled to increase annually for inflation though 2025). This exemption amount applies...more

Farrell Fritz, P.C.

Wills, Trusts & Estates: Plain and Simple – Year End Gifting

Farrell Fritz, P.C. on

Now is the time that many people think about gifting to loved ones, especially with the holidays upon us. In addition to making you, as well as the beneficiary of your gift, feel good, lifetime gifts can help reduce your...more

Tucker Arensberg, P.C.

Federal Estate Tax Exclusion Rises to $11,580,000 for 2020 (and more inflation adjustments)

Tucker Arensberg, P.C. on

The IRS published Revenue Procedure 2019-44 on November 6, 2019, to set the inflation adjustments for 2020. The exclusion from federal estate will increase to $11,580,000, up from $11,400,000 in 2019....more

Williams Mullen

Estate Planning Adjustments for Tax Year 2020

Williams Mullen on

Many estate planning provisions of the Internal Revenue Code contain brackets, exemptions, exclusions, deductions, or other figures that the Internal Revenue Service (IRS) adjusts annually for inflation.  Recently, the IRS...more

Williams Mullen

Estate Planning Adjustments for Tax Year 2018 & Chained CPI Under New Tax Act

Williams Mullen on

Many estate planning provisions of the Internal Revenue Code contain brackets, exemptions, exclusions, deductions, or other figures that the Internal Revenue Service adjusts annually for inflation. On December 22, 2017,...more

BCLP

IRS Grants Taxpayers Two-Year Window to File Portability Election

BCLP on

In a long-awaited move, the IRS announced recently that taxpayers will now have at least two years to file an estate tax return to elect portability of a decedent’s unused estate tax exemption to the decedent’s surviving...more

Williams Mullen

Estate Administration Update: A Simplified Procedure for the Portability Election

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Recently, the IRS issued Revenue Procedure 2017-34 (the “Revenue Procedure”), providing a simplified process for certain estates requiring an extension of time to make a portability election under § 2010(c)(5)(A) of the...more

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