by Arthur Geffen | Feb 29, 2016 | Estate Tax
The due date for reporting the value of estate assets under Code Section 6035 has again been extended, from Feb. 29 to March 31. Under Notice 2016-19, the IRS is allowing extra time for review of proposed regulations – expected soon – before taxpayers...
by Arthur Geffen | Feb 26, 2016 | Estate Tax
President Obama just released his last proposed budget, applicable for 2017. It contains several estate and gift tax provisions carried over from his prior proposed budgets, none of which are any more likely to become law than in the past. However, if in...
by Arthur Geffen | Feb 24, 2016 | Estate Tax, step up
As with life, changes in the tax law can be good, as when tax rates are reduced, or bad, as when tax rates go up or when the tax is applied to less income. Such is the case with recent changes in the estate tax law, which also affect income tax law. Regarding...
by Arthur Geffen | Feb 16, 2016 | Income Tax
There are certainly a lot of tax breaks that benefit lower-income individuals, such as the earned income tax credit, retirement savings contributions credit, and the various education deductions and credits. However, there are also several tax breaks that favor...
by Arthur Geffen | Feb 8, 2016 | FRAUD, Tax, Tax Preparation
The Internal Revenue Service today warned taxpayers to be on the lookout for unscrupulous tax return preparers pushing inflated tax refund claims. This scam remains on the annual list of tax scams known as the “Dirty Dozen” for the 2016 filing season. “Be wary...
