Michael Jackson’s Estate To IRS: Beat It

The Estate of Michael Jackson has filed an action in U.S. Tax Court protesting a Notice of Deficiency levied against his estate. The question is, of course: How much was the King of Pop really worth at his death?

New York To Issue Tax Refunds For Same Sex Couples

Gov. Andrew Cuomo has announced that New York will issue estate tax refunds to those taxpayers who file amended returns as a result of the recent Supreme Court ruling that deemed DOMA unconstitutional.

IRS Announces Increase In Annual Exclusion For Gifts, Rest Remains a Mystery

Nobody has a crystal ball. I’ve sat through presentation after presentation (and given a couple myself) on the state of the federal estate and gift tax for 2013 and beyond. There are all kinds of theories about what might happen. But the reality is, we know very little. Quite frankly, much of it hinges on what happens in November. And no, I’m not talking about the presidential election. Realistically, although the President may claim to drive policy when it comes to the federal estate and gift tax, he doesn’t. Congress does. So let’s talk about what will happen if nothing …