by Joel Roettger | Apr 6, 2023 | Estate Planning, Tax
In October 2022, the IRS released Rev. Proc. 2022-38, which sets forth inflation-adjusted items for 2023 for various provisions of the Internal Revenue Code. Some items of interest from an estate planning perspective are the following: Edit Estate Tax Exemption...
by Joel Roettger | Sep 14, 2021 | Estate Planning, Tax, Trusts
UPDATE 2 (11/4/2021) The House Committee on Rules published a new version of the reconciliation bill, H.R. 5376. The latest draft is 2,135 pages. As with the October 28 draft, provisions related to the estate, gift, and generation-skipping transfer taxes are...
by Joel Roettger | Jan 4, 2021 | Estate Planning, Tax
In October 2020, the IRS released Rev. Proc. 2020-45, which sets forth inflation-adjusted items for 2021 or various provisions of the Internal Revenue Code. Some items of interest from an estate planning perspective are the following: Edit Estate Tax Exemption...
by Joel Roettger | May 13, 2020 | Estate Planning
UPDATE 2: Now extended through September 30. See Executive Order No. 61. UPDATE: Now extended through August 28. See Executive Order No. 52. Original Post: On May 12, 2020, Tennessee Governor Bill Lee signed Executive Order No. 37 (pdf). The new Order extends...
by Joel Roettger | Apr 10, 2020 | Estate Planning
On April 9, 2020, Governor Bill Lee issued Executive Order No. 26. It temporarily addresses a dilemma that estate planners and other attorneys have been struggling with ever since the state of Tennessee went into lockdown in response to the COVID-19 virus. How do you...
by Joel Roettger | Jan 9, 2020 | Estate Planning, Tax
Edit Estate Tax Exemption (“Basic Exclusion Amount”) $11,580,000 Applicable Credit Amount $4,577,800 Generation-Skipping Transfer (GST) Tax Exemption $11,580,000 Gift Tax Annual Exclusion $15,000 Taxable Income Threshold at which Highest Rate Applies for...
