NEWS ALERT: Big and Important Changes to GA Law Become Effective on July 1, 2018!

The 2018 GA Legislative Session turned out to be a very big deal for those living in GA. This new legislation was enacted at the end of March 2018, but the GA Governor had until the end of May 8, 2018 to veto any legislation he did not like. This time has now passed, and all of the 2018 legislation (with one exception discussed below) impacting the estate planning world will now officially become effective on July 1, 2018.

2018-05-10T11:29:20+00:00 May 10th, 2018|News, News Alert, Power of Attorney|

NEWS ALERT: Coming Tax Law Changes May Effectively Eliminate the Deduction for Charitable Contributions – Consider Making Your Charitable Gifts Before 2017 Ends!

People who regularly make charitable contributions generally expect that those contributions will be deductible on their income tax returns. However, some of the currently proposed tax law changes would effectively eliminate this deduction for a huge portion of U.S. taxpayers.

2017-12-14T13:31:49+00:00 December 14th, 2017|Charitable Gifts, News, News Alert|

NEWS ALERT: Another Important IRS Filing Due by May 1, 2017, for Those Involved with Conservation Easements (IRS Notice 2017-10)

The Internal Revenue Service (IRS) has moved to put a yield sign in front of anyone wanting to invest in a syndicated conservation easement to gain a charitable tax deduction and, in this regard, has issued a Notice which retroactively applies to transactions entered into on or after January 1, 2010. The Notice states that [...]

2017-02-28T05:38:22+00:00 February 27th, 2017|Articles, News, News Alert|

NEWS ALERT: Important IRS Filings Due by May 1, 2017, for Those Involved with Micro-Captive Insurance Companies (IRS Notice 2016-66, as Modified by IRS Notice 2017-08)

The IRS has moved to put a yield sign in front of anyone creating or utilizing a micro-captive insurance company under IRC Section 831(b) by designating all (or mostly all) such micro-captives created on or after November 2, 2006, as transactions of interest which have significant notice requirements. These include the need for captive owners [...]

2017-02-02T11:25:31+00:00 January 30th, 2017|Articles, Estate & Tax Planning, News, News Alert|

NEWS ALERT: The IRS Just Confirmed That a QTIP Election Can Be Used With a Portability Election, Answering a Question That Has Existed Since 2010

The IRS recently answered a question that has existed for nearly six years now: whether Revenue Procedure 2001-38 would end up preventing the intentional use of a QTIP trust as part of planning aimed at using the new portability election to have a deceased spouse's Basic Exclusion Amount transferred to a surviving spouse.

2016-12-22T06:23:36+00:00 October 3rd, 2016|Articles, News, News Alert|

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