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TWO BIDEN ADMINISTRATION PROPOSALS MAY INCREASE THE AMOUNT OF TAX COLLECTED FROM A DECEDENT’S ESTATE
First, the Biden Administration has proposed significantly reducing the current gift and estate tax exemption, which will result in increases of gift and estate tax imposed on large estates. Second,…
Because of the global pandemic, the IRS extended the filing deadline for taxpayers’ 2019 Income Tax Returns. This left many wondering whether the IRS would extend the filing deadlines for…
On November 2, 2020, the Internal Revenue Service announced a new program, the Taxpayer Relief Initiative (“TRI”), to help taxpayers who are unable to pay their taxes because of the…