When someone passes away, what the person passes down to his or her beneficiaries may be subject to federal estate taxes. If the decedent “skips” a generation in passing along assets then it may ...
On Tuesday, the IRS posted a draft version of the instructions to Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, a follow-up to the draft Form 706 that was posted in ...
The IRS on Thursday issued Notice 2011-82 to alert executors of the estates of decedents dying after Dec. 31, 2010, of the need to file a Form 706, United States Estate (and Generation-Skipping ...
On Aug. 16, the Internal Revenue Service released a draft version of a revised Form 706 (the 706), “United States Estate (and Generation Skipping Transfer Tax ...
The Internal Revenue Service has recently released a draft of instructions for Form 706 concerning estates of decedents who died after Dec. 31, 2015. These draft instructions include reminders on ...
On July 8, 2022, the IRS issued Rev. Proc. 2022-32 that simplified the method for obtaining late relief for failure to timely make an estate tax portability election and extending the time for filing ...
IRS Form 706 is used to report the United States' estate- and generation-skipping transfer taxes. It is filed by the executor of an estate of a deceased U.S. citizen or resident in one of two ...
When do I need to file Form 706, estate tax return? Robert 'Bob' Powell answers this question as part of Decoding Retirement's special segment, Ask Bob. Mitlin Financial founder and wealth advisor ...
On September 13, 2011, the IRS released Notice 2011-76, which gives executors of estates of 2010 decedents more time to make an informed decision about whether to stay in the default estate tax regime ...
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Are Funeral Expenses Tax Deductible?
Losing a loved one is hard enough — and the financial burden of a funeral makes things even more overwhelming. It’s only natural to wonder are funeral expenses tax deductible. The answer depends on ...
The 2010 tax law gives married couples a wonderful new tax break. Depending on whom you talk to, it could be a gold mine or a loss leader for lawyers. Here’s what I mean: Until the end of this ...
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