Tag Archives: IRS
Top Mistakes to Avoid When Making Gifts
A smart estate plan strategically avoids taxation whenever possible. If your estate exceeds the federal estate tax threshold (currently over $12 million), making gifts before your death, if done properly, could lower your federal estate value and avoid taxation. Unfortunately, some gifts trigger IRS scrutiny—even if you are not trying to avoid the estate or […]
Gifts That Could Raise Red Flags at the IRS
The IRS is, among other things, tasked with finding estate planning strategies that violate tax laws. Many of the circumstances that get people in trouble with the IRS through their estate planning involve illegal gifts. Here are just a few examples of some gifts that might cause the IRS to pay you some special attention. […]