Estate Tax

North Carolina’s Estate Tax: Dying Out?

Posted on: February 14th, 2013
Most of the country’s attention has been on federal estate tax changes made by the American Taxpayer Relief Act of 2012. ...

2013 Estate and Gift Tax Exemption Set at $5.25M

Posted on: January 1st, 2013
Just over a week since tax legislation changes were made in the last-minute fiscal cliff deal, the Internal Revenue Service has confirmed the 2013 applicable exclusion amount (gift and estate tax exemption) will be $5.25 million....

9 Steps (Days) Away From the Fiscal Cliff – EIN Problems Too

Posted on: December 22nd, 2012
Congress has failed to avert the fiscal cliff. We have only nine days until the estate tax exemption drops to $1 million (and the rate goes up to 55%). Not to mention the income tax increases. ...

IRS May Allow Late Filing Relief for 706 for Portability

Posted on: December 8th, 2012
According to Robert Keebler, CPA, the IRS may allow a late filed Federal Estate Tax Return, Form 706, if the only reason for filing the return is for the surviving spouse to claim the deceased spouse’s unused estate tax exemption. The current exemption is $5 million, but it is scheduled to reduce to $1 million in 2013....

Now is the Time to Consider Tax Issues as 2013 Draws Near

Posted on: November 21st, 2012
A recent press briefing with Press Secretary Jay Carney touched on tax issues that will affect every American in 2013. Right now, Americans are ill-prepared for the approaching drop off the “fiscal cliff.” As tax cuts are about to expire in the New Year, how will individuals be affected?...

How to Determine Date of Death Values

Posted on: November 20th, 2012
When administering an estate, determining the date of death values of the decedent’s assets is essential. Filing federal and state estate tax returns and paying any taxes due can only be done when the value of all the decedent’s property is known. ...
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