Tag Archives: tax code

IRS Announces August 2017 Applicable Federal Rates and 7520 Rates

The Internal Revenue Service (“IRS”) publishes a monthly update to the applicable federal rates (“AFRs”) and 7520 rates. Planning professionals and their clients should take note of fluctuations in these rates and be mindful of planning opportunities that come with rate changes. The AFR is calculated by the IRS under Section 1274(d) of the Internal … Continue Reading

Your Favorite College Sports Team Tickets May Soon Feel More Expensive

It is a common practice among many top-tier universities and colleges to “require” that alumni or other donors make a threshold donation in order to obtain access to a ticket lottery to sporting event tickets.  Currently, the tax code permits donors making these type of “donations” to deduct 80 percent of the contribution amount, a … Continue Reading