Taxes
Latest in Taxes
Understanding the 2025 Unified Credit in Estate Tax Calculations
The 2025 estate tax exclusion is $13.61 million per person with a 40% top rate. Executors compute taxable estate, add…
Filing Form 706: Estate Tax Return Rules, Deadlines, and DSUE
In 2025, estate tax activity increased as families file Form 706 to lock in the $13.99 million exemption and elect…
Understanding the Alternate Valuation Date: Six Months After Death
The alternate valuation date lets an estate value assets six months after death if it lowers both gross estate and…
Gross Estate: FMV at Death and All Included Property
Gross estate equals the decedent’s fair market value interests at death, often leading to Form 706 reporting. Key inclusions: life…
GST Tax Essentials: Rates, Exemptions, and Filing for 2024–2025
The GST tax remains a separate 40% levy with a $13,610,000 (2024) exclusion still effective as of Oct 2025. Executors…
Portability of DSUE: Essentials of the Deceased Spousal Election
Survivors can use DSUE only if the spouse died on/after Jan 1, 2011, was a U.S. citizen/resident, and the executor…
Estate Tax Form 706: 2024 Exclusion, Credit, and Rates
Estates for 2024 deaths must file Form 706 if taxable estate plus lifetime taxable gifts exceed $13,610,000. Filing is also…
Understanding IRS Refund Claims: Deadlines, Extensions, and 1040-X
Refund claims must be filed by the later of three years from filing or two years from payment. Early returns…