Federal Income Tax Returns Form 1040
Tax Returns for income tax filing deadline is now July 15 from April 15, Treasury Secretary Steven Mnuchin stated today, March 20, 2020. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties. Initially, the IRS had deferred the payment deadline to July 15 but had left April 15 filing deadline in place, but now the new due date is July 15, 2020.
Pennsylvania Inheritance Tax Returns – Form 1500 From the PA DR Website
Due to the recent closing of commonwealth and county office buildings to help prevent the spread of COVID-19, the Department of Revenue is aware that taxpayers have been unable to meet their Inheritance Tax filing and payment obligations. To address these concerns, the department is asking County Register of Wills offices to implement the following procedures when their operations resume:
- If a taxpayer is filing a return or making a payment and indicates that either was due during the timeframe that offices were closed, please place a date received as of March 12, 2020, on the return and the receipt.
- In addition, the department is making system modifications to not apply penalties for payments received late, that otherwise would have been timely during office closures.
Bernie Sanders’s Plan to “Progress” the Federal Estate Tax – Neil Yahn
An Estate Tax Exemption of $3.5M opens the door for critical planning and use of SLATS! https://www.accountingtoday.com/articles/sanders-proposes-estate-tax-of-up-to-77-for-billionaires While the 2017 tax reform legislation doubled the [...]
Prop. Regs. 20.2010-1(c); Reg-106706-1 If a client gifts $11.4M in 2019 and dies in 2026 when the exemption is back to $5M. The $11.4M is an [...]
No Clawback – Easing Angst Among Tax Practitioners and Estate Tax Exemption of $11,400,000 in 2019 – Neil Yahn
I lectured for the PICPA on Friday 12/7/2018 and critical to that discussion was the current exemption of $11,400,000 in 2019 and the fear of claw-back. [...]
IRS Announces Higher 2019 Estate And Gift Tax Limits – Neil Yahn
The IRS announced the official estate and gift tax limits for 2019: The estate and [...]
New Probate Fees in 2019 for Dauphin County – Neil Yahn
Dauphin County Probate fees have increased in 2019. Whereas in past, we would not have been [...]
Pennsylvania Inheritance Tax Summary – Neil Yahn
Pennsylvania Inheritance Tax Rates: –0% to surviving spouse –4.5% to lineal heirs –12% to siblings –15% [...]
Annual Exclusion Gifts in 2018
TAX ALERT Gift tax exclusion amounts – present interests 2017 $14,000 per person 2018 $15,000 per person [...]
Federal Estate Tax in 2018
Practice Alert: https://www.picpa.org/attend-cpe-events/conferences/picpa-conference-on-pennsylvania-taxes/conference-on-pennsylvania-taxes-speakers Neil Yahn to speak on Federal Estate Taxes in 2018 40% tax Date of death [...]
Appointment Of Substitute Arbitrator Under Federal Arbitration Act
ALERT THIRD CIRCUIT REQUIRES APPOINTMENT OF SUBSTITUTE ARBITRATOR UNDER FEDERAL ARBITRATION ACT January, 2012 Matthew Chabal III, [...]