News & Resources

Converting Your IRA from Traditional to Roth

  The traditional IRA account values may be very low due to the hit the stock market has taken as a result of Covid-19.  You could take advantage of this reduction in your IRA account value and convert your traditional

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SECURE Act: Major Changes for IRA Beneficiaries

  The SECURE Act, signed into law on December 20, 2019, makes significant changes that will affect the beneficiaries of retirement accounts.  These changes will also require many individuals to review their current estate plans. Major Changes for Beneficiaries Retirement

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Anti-Clawback Regulations Finalized

  The IRS finalized the proposed regulations issued last November relating to the lifetime exemption (basic exclusion amount).  There is definitely some good news here! In the finalized regulations, the IRS has allowed for a special rule for taxpayers who

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Increases For 2018 Estate And Gift Tax

  Increases for the estate and gift tax area for 2018 are as follows: Unified estate and gift tax exclusion amount. For gifts made and estates of decedents dying in 2018, the exclusion amount will be $5,600,000 (up from $5,490,000

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Gift Tax Returns

In a recent Legal Advice Issued by IRS Field attorneys, the period of limitations on assessing gift tax remained open for the years the donor failed to file any Forms 709, United States Gift (and Generation-Skipping Transfer) Tax Return. IRS

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