If a taxpayer misses the filing deadline, the IRS may impose significant penalties (up to 25% of the amount of the foreign ...

Decades ago, I inherited a valuable piece of art, and I’m now considering selling it to finance a grandchild’s graduate degree that will cost $80,000. What do I need to consider in regard to taxes? Do ...

Originally set to kick off at the beginning of 2022, the IRS planned to implement a new reporting rule that would require ...

During a recent appearance at the World Economic Forum, US President Donald Trump criticizes the EU for target US companies ...

What the updates to the Gift Tax Annual Exclusion, Unified Credit Amount and GST Tax Exemption may mean for clients.

Historically speaking, current US levels are about average. Compared with other affluent countries, they’re low. But there ...

The author writes "This year, estate planning practitioners have significant opportunities for estate tax savings for our ...

For many Americans, offering a $60,000 gift to pay for a child’s wedding probably isn’t something to worry about from a tax ...

The final regulations implement Sec. 2801, added to the Code in 2008, and follow up on proposed regulations issued 10 years ago.

The current federal estate tax exemption levels, introduced by the Tax Cuts and Jobs Act (TCJA) in 2018, have provided historically high ...

The federal estate and gift tax exemption changes from year to year. The current combined federal estate and gift tax exemption amount of ...

For example, if you gift $20,000 worth of crypto that you originally purchased for $10,000, the recipient’s cost basis will be $10,000. If they sell the crypto for $30,000, they would pay capital ...