Tag Archives: gift tax

Minnesota Twins Heirs Go to Bat against IRS in Tax Court

Minnesota Twins Heirs Go to Bat against IRS in Tax Court July 29, 2013 By: Teresa Ambord, ACCOUNTING WEB When a truly wealthy person dies – like Minnesota Twins owner Carl Pohlad – the IRS doesn’t give up easily on …

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Billionaire Redstone Challenges IRS on Tax for 1972 Gift

Billionaire Redstone Challenges IRS on Tax for 1972 Gift May 1, 2013 By: RICHARD RUBIN; BLOOMBERG In 1972, President Richard Nixon cruised to re-election. “The Waltons” premiered on CBS. And Sumner Redstone, who wasn’t yet a global media mogul, made …

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Estate Planning: New Hazards

Estate Planning: New Hazards April 26, 2013 By KELLY GREENE; WALL STREET JOURNAL You thought your estate plans were finally set? Not so fast. It turns out the “permanent” $5 million estate-tax exemption enacted earlier this year could change after …

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The Difference Between Estate Taxes and Gift Taxes

The Difference Between Estate Taxes and Gift Taxes January 9, 2013 By ARLEEN RICHARDS, EPOCH TIMES People who want to give their family as much as possible from their estates prefer to plan a more comprehensive estate plan that will …

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High Earners Facing First Major Tax Increase in Years

High Earners Facing First Major Tax Increase in Years January 2, 2013 By LAURA SAUNDERS, WALL STREET JOURNAL The bill approved in Congress to avert the so-called fiscal cliff would bring the first major tax increase on high earners in …

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Congress Passes Cliff Deal

Congress Passes Cliff Deal Hard-Fought Bill Averts Broad Tax Hikes, Spending Cuts, but Puts Off Major Issues January 2, 2013. By JANET HOOK, COREY BOLES and SIOBHAN HUGHES, WALL STREET JOURNAL Congress broke a rancorous stalemate Tuesday to pass legislation …

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Rich Passing Up $10 Million Opportunity to Gift Tax-Free

Bloomberg. Jul 13, 2012. By Margaret Collins. John Glass expanded his family business to more than 90 employees from seven workers over four decades. Last year, U.S. tax laws prompted him to gift about $2 million of company stock to …

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IRS Announces Efforts to Help U. S. Citizens Overseas Including Dual Citizens and Those with Foreign Retirement Plans

IRS Release: IR-2012-65, June 26, 2012. WASHINGTON — The Internal Revenue Service today announced a plan to help U.S. citizens residing overseas, including dual citizens, catch up with tax filing obligations and provide assistance for people with foreign retirement plan …

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London Calling: Should You Retire Overseas?

Nasdaq. June 20, 2012. By Joseph R. Hearn. Raise your hand if you’ve ever made it through a particularly stressful day at the office by doing a Google image search for “Tropical Island.” Me too. In fact, if I type …

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Debunking the Pre-nup Myths

WealthManagement.com. Jun. 12, 2012. Arlene Dubin. Make sure your clients don’t say “no” to these agreements based on incorrect assumptions Pre-nuptial agreements are increasingly becoming an important part of estate planning. But, your clients may be resistant to the idea …

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