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- Shore Up Your Beleaguered Finances
- Uncle Sam thinks you're too rich to help, so you'll have to help yourself. Keep Your Income Flowing In past recessions, the little guy or gal took the brunt of the job losses. Now, however, a high annual income — one over $100,000...
- Articles 2009-05-04
Additional Resources
- Gift tax SOL prop. regs.(statute of limitations; IRS proposed regulations)(includes proposed disclosure requirements)
- Before the Taxpayer Relief Act of 1997 (TRA '97), the IRS generally could revalue a gift for gift tax purposes within three years of the date of filing the gift tax return if tax was paid with the return. When the gift involved a transfer subject t...
- Research articles 1999-05-01
- Beware the GST tax when preparing gift tax returns.(generation-skipping transfer tax)
- Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, is the Federal form used to report gifts. Some gifts are subject not only to gift tax, but also to generation-skipping transfer GST tax. Background The Sec. 2601 GST tax is...
- Research articles 2005-04-01
- IRS proposes gift tax valuation guideline revision
- THE INTERNAL REVENUE SERVICE recently proposed new regulations aimed at clarifying the special valuation rules of the gift tax to establish what constitutes a qualified interest in a trust set up under the gift tax system in cases where the donor re THE INTERNAL REVENUE...
- Research articles 2004-08-02
- Significant recent developments in estate planning: this article examines recent developments in estate and gift tax planning and compliance. It highlights legislative developments, administrative and procedural changes and significant recent cases and ru
- This article examines recent developments in estate and gift tax planning and compliance. It highlights legislative developments over the last year, Economic Growth and Tax Relief Reconciliation Act of 2001 EGTRRA changes that take place in 2005, annual inflation adjustments affecting the estate and gift tax...
- Research articles 2005-09-01
- Recent Changes In The Area Of Federal Gift And Estate Tax
- In June of 2001 Congress enacted and President Bush signed into law the Economic Growth and Tax Reconciliation Act of 2001. This Act changes the rules that govern estate and gift taxation. However, despite the headlines and sound bites about the repeal of the "death tax", the estate and gift...
- White papers 2003-01-01
- Adjustment to adjusted taxable gifts. (Court of Appeals for the 8th Circuit Court case involving statute of limitation for gift tax purposes)
- A decision by the Court of Appeals for the 8th Circuit ruled that although the statute of limitations had expired for gift tax purposes in the case involving Alfred Eide, the revaluing of the mineral rights by the IRS for estate tax purposes was upheld. EA decision by the Court...
- Research articles 1994-11-07
- SAMSUNG CONSIDERING ADMINISTRATIVE SUIT AGAINST LEE JY'S GIFT TAX.
- SEOUL, Feb 24 Asia Pulse - Samsung sources said Saturday they are considering legal action against a decision by the National Tax Tribunal NTT validating the gift tax levied on Lee Jae-yong, vice president of Samsung Electronics Co. SEOUL, Feb 24 Asia Pulse -...
- Research articles 2003-02-24
- Incentive to file complete gift-tax returns.
- Donors have an added incentive to file complete gift-tax returns. The Revenue Service cannot revalue gifts more than three years after gifts are "adequately disclosed" on a gift tax return...Form 709. Applies to gifts that are made after Aug. 5, 1997. The rule is...
- Research articles 1999-01-22
- Do Estate and Gift Taxes Affect the Timing of Private Transfers?
- Proposals to alter the estate tax are contentious and have been debated largely in an empirical vacuum. This paper examines time series and cross-sectional variation to identify the effects of gift and estate taxation on the timing of private transfers. We find that households experiencing larger declines in the expected...
- White papers 2001-06-12
- A valuation report does not meet gift tax disclosure regulations
- Filing a gift tax return, once a simple task, has evolved into a delicate process that requires a high level of due diligence to comply with the regulations. On December 3, 1999, the IRS issued final regulations regarding the adequate disclosure of information necessary to trigger the statute of...
- Research articles 2000-04-01
- Estate Planning: An Overview of Estate and Gift Taxes and Marital Deduction
- "The Federal Estate and Gift Tax Laws are a complex set of laws contained in the Internal Revenue Code that are designed to assess taxes against individuals on the transfer of assets during their lifetime and/or upon their death. Through various estate planning mechanisms it is possible to...
- White papers 2001-01-07
- Revocable spousal annuity a gift-tax saver.(United States Internal Revenue Service)(Brief Article)
- A revocable spousal annuity can pay off as a gift tax saver. A wife put stock in a trust that would pay her an annuity for 15 years, with the remainder to her kids. If she died before the 15 years were up, her spouse would...
- Research articles 2003-02-28
- Seven suggestions for IRS estate/gift tax audits.
- Many practitioners do not often have to deal with estate and gift tax audits and may need information about the process: what the auditor is looking for, what documentation is needed, how best to meet the requirements, or what to do if the taxpayer d Many...
- Research articles 2007-08-01
- [1304] Tax deductible gifts: what is a gift?
- Byline: Kirk Wilson Jul 31, 2005 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office released a ruling on 20 July 2005 defining a gift for the...
- Research articles 2005-07-31
- Estate, Gift and Generation-skipping Transfer Tax Highlights
- July's California CPA, Page 10, highlighted some of the provisions in the 2001 Economic Growth and Tax Relief Reconciliation Act. Following is a summary of provisions affecting estate, gift and generation-skipping transfer GST taxes. The estate, gift and GST taxes are reduced from 2002-09. The estate and GST taxes...
- Research articles 2001-08-01
- [229] Simplifying gift deduction claims: Tax Office survey.
- Byline: Terry Hayes Feb 21, 2006 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office ATO is conducting a survey whether taxpayers would support pre-populated gift labels...
- Research articles 2006-02-21
- Estate Planning And The Tax Act of 2001 – What To Do In 2002
- The primary change effective in 2002 was an increase in the "unified credit." One can now make some combination of lifetime gifts and bequests at death totaling $1,000,000, without having to pay gift tax or federal estate tax. This is up from $675,000 last year. The annual exclusion for 2002...
- White papers 2002-05-01
- SMU Cox Offers Tax Concentration for the Master of Science in Accounting Program
- With the aid of a generous $500,000 gift by the Ernst & Young Foundation, the Cox School of Business at SMU announces the creation of a tax concentration for the Master of Science in Accounting MSA program. The Ernst & Young gift will support the establishment of new graduate tax...
- Research articles 2008-02-15
- IRS ramping up estate and Gift Tax Program and appraisals
- The Internal Revenue Service Small Business/Self-Employed Division Estate and Gift Tax Program is enhancing a number of existing practices related to examinations, referrals, and appraisals to combat tax law noncompliance and narrow the tax gap, according to program chief Aileen Condon. Efforts aimed at improving estate tax compliance include seeking...
- Research articles 2006-06-22
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