Wealth Management Expert’s Post OBBBA Planning Tips for High Earners
Michele Martin heads the wealth management practice at EisnerAmper and is the president of Prosperity. She shared with Checkpoint her …
House Ways and Means Releases Partial Tax Bill Text
On Friday, May 9, the Ways and Means Committee shared partial text for the tax portion of a reconciliation bill …
Wyden Takes Aim at Life Insurance ‘Tax Shelter’
As the legislative session came to a close, outgoing Senate Finance Committee Chair Ron Wyden (D-OR) unveiled a draft proposal …
Key 2025 Figures Calculated by Thomson Reuters Checkpoint Based on Inflation Data Now Available
Many tax, expensing, and penalty figures are adjusted annually for cost-of-living increases. These adjustments reflect the average chained Consumer Price …
Key 2024 Figures Calculated by Thomson Reuters Checkpoint Based on Inflation Data Now Available
Many tax, expensing, and penalty figures are adjusted annually for cost-of-living increases. These adjustments reflect the average chained Consumer Price …
Key Guidance to Watch for in IRS’ 2022-2023 Plan Year
The IRS has received many recommendations ahead of the release of its regulatory to-do list through summer 2023. The agency …
IRS Provides Simplified Method for Extending Portability Election
The IRS has released a procedure that provides a new, simplified method for obtaining an extension of time to make …
Proposed Regs Provide Guidance on Determining Estates’ Deductions
The IRS has issued proposed regs that provide guidance on the proper use of present-value principles in determining the amount …
Trust’s Asset Transfer to Third-Party Bank Account was Gift Made by Beneficiary
In Chief Counsel Advice, the IRS has ruled that a trust’s transfer of assets to a third-party bank account at …
Final Regs Under Sec. 2010 Protect Gifts made Before 2026
The IRS has released final regs that adopt the special rule provided in the proposed regs issued in November 2018 …