News & Analysis as of

Estate Planning › Tax Planning › Clawbacks

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Schwabe, Williamson & Wyatt PC

Are You Prepared for Potential Adjustments to the Federal Estate Tax?‎

Schwabe, Williamson & Wyatt PC on

The federal estate and gift tax exemption is the highest it has ever been. Under current law, you may transfer almost $14 million to anyone you wish without having to pay a dime of federal gift or estate tax. Absent any...more

Venable LLP

“Don’t Let the Sun Go Down on Me” - Plan Ahead for the Sunset of Federal Estate and Gift Tax Exemptions at the End of 2025

Venable LLP on

The Tax Cuts and Jobs Act of 2017 (TCJA) enacted significant changes in the federal estate and gift tax laws commencing in 2018. One of the most notable changes was that the TCJA doubled the federal lifetime gift tax...more

Katten Muchin Rosenman LLP

2022 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on

During 2022, COVID-19, the war in Ukraine, global inflation, the Tax Cuts and Jobs Act (TCJA), the uncertainty about the Build Back Better Act (BBBA), the Corporate Transparency Act (CTA), and the Inflation Reduction Act...more

Tucker Arensberg, P.C.

Gifting and Estate Tax in Period of Big Changes

Tucker Arensberg, P.C. on

​​​​​​​The Tax Cuts and Jobs Act of 2017 increased the federal estate and gift tax exclusion amount (sometimes called the “basic exclusion amount” or “BEA”) from $5 million to $10 million. (Those numbers are adjusted for...more

Davis Wright Tremaine LLP

Not So Fast! IRS Releases Proposed Clawback Regulations

Davis Wright Tremaine LLP on

The IRS recently released proposed clawback regulations on the treatment of gifts that are complete at the time of transfer but are potentially included in the donor's gross estate at death. Such gifts will likely get the...more

Harris Beach PLLC

IRS Looks to Limit Estate Tax Break For Large Gifts in Tweak to Anti-Clawback Regulations

Harris Beach PLLC on

The Treasury Department issued proposed regulations on Tuesday, April 26, 2022 in follow up to the anti-clawback regulations published on November 26, 2019. The 2019 anti-clawback regulations were in response to the Tax Cuts...more

Polsinelli

IRS Confirms No “Clawback” for Gifts Made Under the Increased Estate and Gift Tax Exclusion

Polsinelli on

On November 26, 2019, the Treasury Department and the IRS issued final regulations under IR-2019-189 confirming that there will be no “clawback” for gifts made under the increased estate and gift tax exclusion put in place by...more

Genova Burns LLC

Estate Tax "Clawback" Relief Announced; But of Limited Application

Genova Burns LLC on

For those of sufficient wealth to be concerned about federal estate taxes, lifetime gift giving can be an effective strategy. Although the estate tax is imposed on the aggregate of the taxable estate and lifetime taxable...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner - November/December 2019

Shumaker, Loop & Kendrick, LLP on

What’s a clawback ? and should you be worried about it? By temporarily doubling the gift and estate tax exemption amount, the Tax Cuts and Jobs Act created an historic opportunity for affluent families to shelter wealth...more

Bradley Arant Boult Cummings LLP

Proposed Tax Regulations Eliminate Possibility of Clawback of Lifetime Gifts for Estate Tax Purposes

Bradley Arant Boult Cummings LLP on

As previously posted, the Tax Cuts and Jobs Act signed into law in December 2017 (the “2017 Act”) made significant changes to the federal wealth transfer system with respect to gift and estate tax transfers during the...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Increased Estate/Gift Tax Exemptions Under TCJA: No-Clawback, but Use it or Lose It

Mitchell, Williams, Selig, Gates & Woodyard,... on

The Tax Cuts and Jobs Act (“TCJA”) passed in December, 2017, doubled the estate and gift tax basic exclusion amount from $5.0 million to $10.0, coupled with a cost of living adjustment. For 2019, the basic exclusion amount is...more

Winstead PC

IRS Issues Proposed Regulations Alleviating "Clawback" Concerns

Winstead PC on

On Dec. 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the 2017 Act) into law. The 2017 Act roughly doubled the estate, gift, and generation-skipping transfer (GST) tax exemption amounts from $5.49 million per...more

12 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide