News & Analysis as of

Gift-Tax Exemption

Personal Planning Strategies - December 2017

by Proskauer Rose LLP on

2018 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent:...more

Trusts and Estates Newsletter 2017

by Shipman & Goodwin LLP on

After months of delay, the Connecticut General Assembly passed, and the Governor signed in large part, a budget bill in the last days of October. The bill increases the Connecticut estate and gift tax exemption to meet the...more

Federal Tax Reform May Affect Estate Planning

On November 2, the House Ways and Means Committee released a draft tax reform bill known as the Tax Cuts and Jobs Act. The Senate Finance Committee followed on November 9 with its own outline for tax reform legislation. Both...more

Initial Steps Toward Changes to Gift, Estate and Generation-Skipping Transfer Tax

by Ballard Spahr LLP on

On Thursday November 9, Senate Republicans unveiled the substance of their tax reform bill. The Senate proposal maintains the House Republicans' plan to increase the amount exempt from gift, estate, and GST taxes from $5...more

Comparison of the Senate and House Bill Proposals for Estate Tax Reform

by Hodgson Russ LLP on

After years of calling for a comprehensive overhaul of the federal tax code, congressional Republicans in both the House and Senate, unveiled their plans for sweeping tax change – the Tax Cuts and Jobs Act – on November 2nd...more

Estate Tax Changes Past, Present, and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

Are You Looking Forward To 2018? We Are!

by Murtha Cullina on

To assist you in your planning, we are happy to report the following inflation adjustments to key estate, gift, and generation-skipping transfer tax (“GST”) exclusion amounts for 2018. FEDERAL LAW - For the estate of...more

Gift and Estate Tax Exclusion Amounts Set to Increase in 2018

by Nutter McClennen & Fish LLP on

Around this time every year, the IRS looks at whether there has been a year-over-year increase in the Consumer Price Index and announces inflation adjustments to the federal gift and estate tax exclusion amounts for the...more

Estate Tax Changes Past, Present, and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

2018 Will Bring Increases to Annual Exclusion, Gift and Estate Tax Exemptions

The IRS has announced that the gift tax annual exclusion will increase from $14,000 to $15,000 in 2018, which will allow donors to give up to $15,000 ($30,000 combined for married couples) per donee each year without...more

IRS Announces Key Estate and Gift Tax Exemptions for 2018

On October 19, IRS issued Revenue Procedure 2017-58, announcing inflation adjustments for 2018 for dozens of important figures across the Internal Revenue Code, including the following two key numbers regarding the estate...more

What you should know about estate and gift tax 2018 inflation adjustments

by Thompson Coburn LLP on

The IRS has announced the 2018 inflation adjustments for many tax provisions, including exemptions for estate, gift and generation-skipping transfer taxes and the annual exclusion amount for gifts. The 2018 estate and gift...more

Estate Tax Changes Past, Present and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

TIGTA Determines Improvements Are Needed In Estate And Gift Examination Processes

by Fox Rothschild LLP on

TIGTA recently released a report discusses their audit of the IRS’s estate and gift tax examination procedures. TIGTA made eight recommendations of changes to the estate and gift tax examination process. The bulk of TIGTA’s...more

Projected Estate and Gift Tax Exemptions for 2018 – How Much Can You Transfer?

by McNair Law Firm, P.A. on

The Consumer Price Index was released by the Labor Department in August 2017. Not everyone anxiously awaits the release of these numbers but the experts have now made estimates of how they will impact estate, gift, and...more

Estate Tax Changes Past, Present and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

Estate Tax Changes Past, Present and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

IRS Provides Automatic Extension to Make Portability Election (Under Some Circumstances)

by Charles (Chuck) Rubin on

A portability election by the estate of a first spouse to die allows the unused unified credit of the first spouse to be used by the surviving spouse for estate and gift tax purposes. Since Code §2010(c)(5)(A) requires the...more

Estate Tax Changes Past, Present and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

Court Orders Administrator To Elect Portability

by Bryan Cave on

When the IRS enacted the portability election provisions in 2011, which allowed estates of married taxpayers to pass along the unused part of their estate and gift tax exclusion amount to their surviving spouse, it remarked...more

State and Federal Tax Law Developments Affect Same-Sex Couples and MA Residents with Out-of-State Real Estate

by Goodwin on

Recent changes in state and federal tax laws impact same-sex couples and any Massachusetts residents who own real estate in another state. Clients who may be affected by these changes should act soon to protect the...more

Potential Repeal of the ‘Death’ Tax

by McNair Law Firm, P.A. on

Assuming you have not been living under a rock for the last two years you have heard of Donald J. Trump, now President Trump, speak about the need to repeal the so-called “Death tax”. In addition, you are likely aware that...more

Estate Tax Reform Predicted for 2017

by Ward and Smith, P.A. on

A key goal for those of us who practice with Ward and Smith is to inform our clients and future clients of potential developments that may impact them.  With respect to Trust and Estate Law, the potential for repeal of the...more

Client Alert: Estate and Gift Tax Limits Announced for 2017

by Fraser Trebilcock on

The IRS has issued the estate and gift tax limits for 2017 (Rev. Proc. 2016-55). For an estate of a person dying in 2017, the basic exclusion amount is $5,490,000 for determining the credit against federal estate tax. This...more

Federal Gift, Estate Tax and Generation-Skipping Transfer Tax Exemptions & the Gift Tax Annual Exclusion Amount Are Subject to...

by Dickinson Wright on

The exemptions were increased in 2017 from $5,450,000 to $5,490,000, and the annual exclusion remains the same at $14,000 per donee. These rules mean the following...more

191 Results
|
View per page
Page: of 8
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.