Such tax-avoidance vehicles include Grantor-Retained Annuity Trusts and Intentionally Defective Grantor Trusts (IDGTs), while another loophole stems from a 1980s-era IRS decision that allows the ...

A Crummey Trust allows people to give gift-tax-free financial gifts to beneficiaries, retain some control over those gifts, and reduce their taxable estates, ...

Estate tax planning experts and many affluent taxpayers are aware of the multiple advantages of what are known in the technical jargon as "Intentionally Defective Grantor Trusts" (IDGTs), which ...

Separately, the AICPA sent a different letter on Feb. 5 to the Treasury and the IRS asking for guidance about international information reporting for domestic grantor trusts. The AICPA wants them to ...

This considers IRS Chief Counsel Memorandum AM 2023-006, regarding non-grantor irrevocable complex discretionary spendthrift trusts.

In the letter, they mention that the number of estates that have paid any estate tax have dropped in recent years. The high was 7.65 percent in 1976 (when the federal exemption was a “whopping ...

Back on March 22 we had posted on a letter by four Senators to the IRS ... the IRS released Revenue Ruling 2023-2 indicating that assets placed into a grantor trust will not get a step-up in basis ...