Preservation | Family Wealth Protection & Planning

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for June 2022. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for May 2022. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for April 2022. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for March 2022. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

It’s that time of year again!  The start of 2022 has brought us an increase in exemption amounts for estate, gift, and generation-skipping transfer (GST) taxes. Each year, the Internal Revenue Service adjusts tax rates to provide for annual cost-of-living increases.

How many times have you prepared your income tax returns for the previous year, only wishing you knew then what you know now, so you could go back and make more advantageous tax decisions? In most cases, you are stuck with the decisions you made before the new tax year began, even though you may not have all the relevant tax information available to assist with those decisions until several months into the new tax year. Too bad, says the IRS, unless you are an estate or trust.

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for February 2022. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for January 2022. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for December 2021. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

The latest text of the proposed reconciliation bill, titled the Build Back Better Act, published on October 28, 2021, is void of many of the prior proposed tax changes that would have upended estate planning. Changes that were included in the earlier version of the bill but not in this most recent version include: