The Supreme Court has recently struck down state bans on same-sex marriage as unconstitutional in Obergefell v. Hodges, 576 US ___ (2015), after previously striking down the federal exclusion of same-sex couples from marriage-related laws in US v. Windsor, 570 US ___ (2013). The Internal Revenue Service (IRS) has now followed suit to
Samuel Weiner
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Additional Analysis To Be Made When Gifting in 2011 and 2012
By Samuel Weiner on
Posted in Estate Tax, Federal Gift, Estate and GST Tax
Under the Tax Relief Act of 2010, an individual has a lifetime exemption equal to $5 million for 2011 and 2012. This exemption can be used to not pay estate and gift taxes or both. In 2013, this exemption is scheduled to go back to $1 million unless there is further legislation enacted to have…