, March 29, 2024

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Tax

  Mar 22, 2024

Donee's Basis and Gain or Loss Calculator

Welcome to our Donee’s Basis and Gain or Loss Calculator. This tool...

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Tax

  Nov 15, 2023

An Unexpected Meaning of Bequest in Black's Law Dictionary Sheds New Light on the IRS's No-Basis Adjustment Ruling for Irrevocable Trusts

In a surprising twist, the dictionary the IRS relies on as an authority for Rev. Rul. 2023-2 allows taxpayers to reach a different conclusion....

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Tax

  Nov 10, 2023

IRS Published Inflation-Adjusted Tax Numbers for 2024

We published several posts on different inflation-adjusted tax numbers for 2024. We hope...

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Tax

  Nov 10, 2023

IRS Released Standard Deduction Amounts for 2024

In Revenue Procedure 2023-34, the IRS released the standard deduction amounts for 2024....

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Tax

  Nov 10, 2023

IRS Published Inflation-Adjusted Tax Rates for 2024

In Revenue Procedure 2023-34, the IRS published inflation-adjusted tax rates for 2024. Married...

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  Apr 12, 2022

Biden Proposes Billionaire Minimum Income Tax in 2023 Budget, But It's a Gimmick

Despite the rhetoric, the purpose of the proposal is to get votes, not fix the country....

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  Mar 12, 2022

Where Is Your 2020 Federal Income Tax Refund?

You're likely to continue waiting since the IRS has a backlog of more than 20 million tax returns....

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  Mar 12, 2022

Tax Deadlines for 2021 Tax Returns

April 18 for the federal income tax return. See the post for deadlines for state, partnership, corporation, and fiduciary income tax returns....

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  Feb 15, 2022

Flashback: Congress Considered Capital Gains Tax on Death in 1969

The U.S. Treasury Department stated that a step-up in basis creates inequity and immobilizes assets....

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