In my previous column, I discussed the responsibilities of executors, the persons who are the key figures in the settling of estates. Here, I’ll discuss why this is crucial and how badly things turned out for executors who failed to obtain the proper tax advice. The need to obtain the right kind of advice was made…Read more
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There are two duties most people would gladly put off as long as possible: The first is writing a will, and the second is updating it to reflect changed circumstances. Whenever you decide to get around to this task, it’s crucial to name the right executors. Regarding the first chore, my client roster includes recalcitrant…Read more
By Sally P. Schreiber, J.D. The IRS on Monday issued 34 questions and answers on new Sec. 45S, which was added by the law known as the Tax Cuts and Jobs Act, P.L. 115-97, to provide a general business credit for employers who provide paid family and medical leave to their employees (Notice 2018-71). The…Read more
The Dirty Dozen represents the worst of the worst tax scams. Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime but many of these schemes peak during filing season as people prepare their returns or hire someone to help with their taxes. Don’t fall prey. For a detailed…Read more
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