IRS announces the 2019 inflation-adjusted figures for gift and estate tax exemption amounts.

The federal gift, estate, and GST exemption amount ( the exemption amount) is the total amount
Continue Reading Federal Individual Gift, Estate, and GST Exemptions Increase to $11.4 Million in 2019

The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and the Code Section 7520 rate (7520 rate) for a particular month
Continue Reading Applicable Federal Rates and Code Section 7520 Rate for November 2018 – Trending Up

The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and Code Section 7520 rate (7520 rate) for a particular month are published by the Internal Revenue Service
Continue Reading Applicable Federal Rates and Code Section 7520 Rate for September 2018 – Trending Up Again

The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and the Code Section 7520 rate (7520 rate) for a particular month are published by the Internal Revenue Service (IRS) in a Revenue Ruling that is released around the 18th day of the immediately preceding month. Advance knowledge of the rates for the future month provides a window of opportunity for the quick or delayed implementation of income, gift, and estate-tax planning techniques in response to upward or downward trends. The effective implementation and management of interest-sensitive estate planning techniques also involves numerous other factors in addition to the relevant AFR or 7520 rate, including a client’s particular circumstances and should be undertaken with the advice of competent tax counsel and financial advisors.

The IRS has issued Revenue Ruling 2018-19, which provides the AFRs and 7520 rate for July 2018. Revenue Ruling 2018-19 will be in Internal Revenue Bulletin 2018-27, dated July 2, 2018.


Continue Reading Applicable Federal Rates and Code Section 7520 Rate for July 2018 – Upward Trend Continues

On Dec. 20, 2017, the House and Senate passed the Tax Cuts and Jobs Act, H.R.1, and this bill is on its way to President Trump for signature.  When signed
Continue Reading GT Alert – Highlights of the Tax Cuts and Jobs Act