Posts Tagged ‘ Internal Revenue Service ’

Federal Estate and Gift Tax Rules for 2013, Including Examples

Barack_Obama_walks_through_the_West_Wing1

By passing the American Taxpayer Relief Act of 2012 (“ATRA”), President Obama and Congress have agreed on a first step towards solving our fiscal cliff problem.  While neither Democrats or Republicans seem overly “happy” with the new law, their compromise has created a level of stability in federal transfer taxes unseen in well over a…

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Lending Money to Family – Don’t Forget About “Imputed Income”

IRS Commissioner Douglas Shulman Addresses The AICPA Annual Conference

Let’s say you want to lend a significant amount of money to your child, another family member or even a friend.  To further help, you decide that you want to make the loan without interest (or at a below-market rate).  Bully for you – you should be commended for your support and assistance to your…

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