News & Analysis as of

Estate Tax Surface Transportation and Veterans Health Care Choice Improvement Act

Estate taxes, also known as inheritance or death taxes, are taxes on an individual's right to transfer property at death.
Williams Mullen

Consistent Basis Reporting Update: Treasury Issues Proposed Rules on Portability Returns, Final Values, and After-Discovered...

Williams Mullen on

On March 4, 2016, the U.S. Department of the Treasury released both temporary and proposed regulations (the “Proposed Regulations”) on the consistent basis and reporting requirements between a decedent’s estate and persons...more

Bryan Cave Leighton Paisner

Treasury Green Book Proposal — Consistency in Values

The Department of the Treasury has released the Treasury Green Book for Fiscal Year 2017, which provides explanations of the President’s budget proposals. One such proposal (remember…these are just proposals, not actual...more

Williams Mullen

Expanding Basis Consistency Reporting under the President’s Revenue Proposals for 2017

Williams Mullen on

The Obama Administration recently released its budget proposals covering the 2017 fiscal year. Along with the Administration’s proposals, the Department of Treasury issued its General Explanations of the Administration’s...more

Williams Mullen

IRS Notice 2016-19 Delays Due Date of Form 8971

Williams Mullen on

The IRS has once again delayed the due date for any statements required under §6035(a)(3)(A) of the Code. Under Notice 2016-19, dated February 11, 2016 (the “Notice”), executors and other persons who must file or furnish a...more

Bryan Cave Leighton Paisner

IRS Postpones Filing Deadline for New Basis Reporting Requirements Again

As part of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, signed into law by President Obama on July 31, 2015, Sections 1014(f) and 6035 were enacted. Section 1014(f) provides rules...more

Arnall Golden Gregory LLP

IRS Issues Draft Basis Consistency Form

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 requires the executor of an estate that is required to file an estate tax return to report to the Internal Revenue Service (“IRS”), and to...more

BakerHostetler

New Basis Reporting Requirements (and Penalties) for Decedents’ Estates

BakerHostetler on

On July 31, President Obama signed into law the Surface Transportation and Veterans Health Care Choice Improvement Act (the “Act”) to reauthorize the Highway Trust Fund’s spending authority for another three months. To offset...more

Butler Snow LLP

Executors Responsible for New Estate Reporting Requirements

Butler Snow LLP on

Executors (or beneficiaries in certain situations) of estates for which an estate tax return was required to be filed under Section 6018(a) after July 31, 2015 must now supply the IRS and each person acquiring any interest in...more

Proskauer Rose LLP

Wealth Management Update - October 2015

Proskauer Rose LLP on

October Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The October § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Proskauer Rose LLP

Wealth Management Update - September 2015

Proskauer Rose LLP on

September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

Katten Muchin Rosenman LLP

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015: Important Changes Affecting Tax Filings for...

On July 31, 2015, President Obama signed into law the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (the "Act"), which revised a number of different federal tax laws relevant to individuals,...more

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