The Internal Revenue Service is beginning to make offers to settle some of the Section 831(b) micro captive insurance cases. You may already be aware that the IRS considers most micro captive [...]
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This is a warning about the latest round of scams in which fraudsters pretend to be from the IRS. DO NOT OPEN EMAILS FROM THE IRS. The IRS will never contact you by email to tell you that you are [...]
What is estate administration? An estate administration is the process of winding up a decedent’s affairs. On a basic level, that entails gathering the decedent’s assets, satisfying the [...]
Pennsylvania taxpayers have for many years been able to give money to a qualifying charity and get a credit against state income taxes for at least 75% of the gift under the Pennsylvania [...]
The Pennsylvania Department of Revenue reminds that all marketplace facilitators and online sellers meeting Pennsylvania’s economic presence threshold (i.e., Pennsylvania annual gross sales of [...]
With the passage of the 2017 Tax Act, the Federal Estate and Gift Tax Exemption was increased to $11.4 million per person or $22.8 million per married couple for 2019. The exemptions are set to [...]
In a recent case, the U. S. District Court in South Dakota confirmed that tax is as certain as death. In this case, the heirs neglected to file a timely federal estate tax return. When the return [...]
In a fascinating recent case the U.S. Tax Court taught another lesson on how taxpayers can entangle themselves in the tax web. In this case a father cheated the IRS, went to prison for the crime [...]
The Irrevocable Spousal Trust (“IST”) is an irrevocable trust created for the lifetime benefit of the grantor’s spouse, and then typically for the benefit of children or grandchildren. The IST is [...]
Metz Lewis strongly recommends that if any parent has children age 18 or older who are not married, they should get their children to sign a Medical Power of Attorney (POA) so that a healthcare [...]
