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Generally, Code section 721(a) provides that a transfer of property to a partnership in exchange for an interest in the partnership will be accorded non-recognition treatment.
For many years, the general rule of thumb in estate planning has been that an individual should gift assets during his or her lifetime.
The McLane Law Firm
As the baby boomers age, we are witnessing what many have described as the largest transfer of wealth from one generation to another.
Caplin & Drysdale
Beginning with the FBAR (FinCEN Report 114) for the 2016 year, the filing deadline for the FBAR will be April 15th with a six-month extension until October 15th available upon request.
Reinhart Boerner Van Deuren S.C.
Over the past few years, Congress has dramatically cut the IRS' budget. In fiscal2015 alone it was cut by more than $346million.
Holland & Knight
The most interesting estate tax is that found in New York. New York has the estate tax "cliff."
IRS regulations anticipated for release as early as this September may further restrict valuation discounts.
Grant Thornton LLP
Employer-sponsored health plans that exceed certain cost thresholds will be subject to a 40% excise tax under Section 4980I, starting for taxable years beginning after Dec. 31, 2017.