by Arthur Geffen | Apr 28, 2022 | Income Tax, Trusts
The temporarily doubled gift, estate, and generation-skipping transfer tax exemption has resulted in the creation of many new irrevocable trusts. Some of these are grantor trusts, and thus the grantor continues to pay the income tax on the trust income. However,...
by Arthur Geffen | Apr 27, 2022 | Gift Tax
The IRS issued proposed regulations Tuesday (REG-118913-21) that would provide an exception to the anti-“clawback” special rule that preserves the benefits of the temporarily higher gift and estate basic exclusion amount. The regulations would apply to...
by Arthur Geffen | Mar 30, 2022 | Estate Tax, Income Tax
On March 28th, the Biden Administration issued a 250-page General Explanation of the administration’s fiscal year 2023 revenue proposals. Click this link the view the “Green Book” PDF. Well-advised taxpayers are already considering actions to take before these...
by Arthur Geffen | Mar 15, 2022 | Alzheimer's
The US Food and Drug Administration (FDA) has approved donepezil transdermal system (Adlarity) for patients with mild, moderate, or severe Alzheimer’s disease (AD), the manufacturer has announced. Adlarity is the first and only once-weekly patch to continuously...
by Arthur Geffen | Mar 3, 2022 | EITC, Income Tax, Income Tax Credits
This Fact Sheet provides frequently asked questions (FAQs) for Tax Year 2021 Earned Income Tax Credit. More people without children now qualify for the Earned Income Tax Credit (EITC), the federal government’s largest refundable tax credit for low- to...
