Court Finds Reasonable Cause for Estate’s Late Form 706 Filing
A federal district court recently ruled in favor of an estate, upholding a reasonable cause/reliance defense against penalties for filing a late Form 706, United States Estate Tax Return. Successful...
View ArticleThe King of Pop, Michael Jackson’s, Estate Wins Big at Tax Court
Two things are virtually certain in life: death and taxes. But, one more should be added to the list where the two converge—an IRS audit. Indeed, this scenario played out all too well for the “King...
View ArticleEstate Planning and Cryptocurrency
The meteoric rise of cryptocurrencies has minted a new generation of millionaires and resulted in the mainstream adoption of virtual currencies as an increasingly important asset class. The crypto boom...
View ArticleGetting Out | Expatriation and Federal Taxes
Are you U.S. citizen or resident? Have you ever just wanted to leave the whole U.S. federal tax system behind? Well, you can . . . try at least. But there’s a cost. The Problem U.S. citizens and...
View ArticleTax Court in Brief | Estate of Spizzirri v. Commissioner | Gifts, Bequests,...
The Tax Court in Brief – March 6th – March 10th, 2023 Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise...
View ArticleWhat is Estate Tax?
The estate tax is a tax on transferring assets from a deceased person to their heirs or beneficiaries. The federal estate tax in the United States is imposed on the transfer of the taxable estate of...
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