Congress Considering Full Repeal of Estate Tax
Takeaways Republicans are pushing to repeal the federal estate tax, which they call the “death tax,” arguing it burdens family businesses and farms. Democrats contend it is a key tool for reducing wealth concentration. The tax currently applies to a small percentage...
How IRS Layoffs May Affect Your Taxes and Estate Planning
Takeaways The Internal Revenue Service (IRS) is likely to see a continuing reduction in its workforce under the second Trump administration. Some experts assert that dramatic reductions in IRS staff could potentially lead to delayed tax return processing, reduced...
Will You Owe a Gift Tax This Year?
The rules surrounding taxes on gifts often create confusion. With the 2025 tax season kicking off, be sure you understand the nuts and bolts of the gift tax, including when a gift tax form needs to be filed. What Is the 2024 Gift Tax Exclusion? The annual gift tax...