On October 19, 2017 the IRS released Revenue Procedure 2017-58 (available here), announcing inflation-adjusted figures. In addition to announcing the income tax bracket adjustments due to [...]
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Part 1 of this blog post (available here), summarized eight tax regulations identified by Treasury Secretary Mnuchin as needing simplification or being particularly burdensome to the taxpayer. On [...]
In Private Letter Ruling 201736018 issued September 8, 2017, the IRS ruled that an IRA payable to the owner’s estate could be rolled over by the decedent’s spouse. If a spouse is designated as [...]
If you are age 70½ or older, an IRA rollover is a simple and easy way to use your individual retirement account to reduce taxes and help a charitable organization. Consider the advantages: Your [...]
The 0% capital gain tax bracket opens up a planning opportunity for higher income parents and grandparents who may be considering gifts or providing support to younger family members in a lower [...]
In tax planning and wealth management, professionals focus on managing capital gains tax liability. Common tools employed in this pursuit include loss harvesting and charitable gifting of [...]
President Trump issued Executive Order 13789 on April 21, 2017 (the “EO,” available here) directing the Secretary of the Treasury to review all “significant” tax regulations issued after December [...]
Estates with values of less than $5.49 million that didn’t timely elect portability get temporary relief from IRS. The portability rule allows a married decedent’s unused estate tax exemption to [...]
Taxpayers making charitable contributions face many requirements, including the contemporaneous written acknowledgement. The Internal Revenue Code imposes additional requirements for [...]
The Internal Revenue Service, along with state tax authorities are cautioning businesses to beware of an email phishing scam using a corporate officer’s name asking for employee W-2 forms from [...]
