Ready to do some estate planning, but worried that the rug could be pulled out from under your feet once the Tax Cuts and Jobs Act (TCJA) expires? There’s some good news: The Internal Revenue Service (IRS) has confirmed that making large gifts now won’t harm estates after 2025. The final Regs clarity that taxpayers…
The IRS has announced that federal form 8939, Allocation of Increase in Basis for Property Acquired from a Decedent, is not due on April 18, 2011 and should not be filed with the final federal form 1040 of persons who died in 2010. Of course, if you’ve tried to file a federal form 8939, you…
Taxpayer asks: My father my grandmother and (unofficially) I, are administers of a simple (non trust) estate for my recently deceased Uncle. the estate has hired an attorney, a funeral home, a grave tending service, and a guy to help clean the house he lived alone in, and sell personal property contained in the house….
Taxpayer asks: I have a problem. I let my son’s father claim us on his taxes and he died on 3/29/08. What do I do to get the rebate back on, at least on my son and myself? Not to sound morbid! But what can I do? Taxgirl says: If the return for 2007 was…
On July 4th, my husband and I did what hardly any parents I know do anymore: we went to the movies. That’s right. We braved the holiday crowds to see a movie. We figured that the early morning show would be empty – we were wrong. This movie (tops at the box office right now)…
