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Sunday April 18, 2021

For Advisors

We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations.
Economic Impact Payments for Individuals Experiencing Homelessness
Washington News
In IR–2021–87, the Internal Revenue Service (IRS) urged advisers and organizations to help people experiencing homelessness benefit from Economic Impact Payments (EIPs). Many individuals experiencing homelessness do not have a permanent address or a bank account. However, they still may qualify for a $1,400 Economic Impact Payment. The IRS is attempting to get information to individuals who are...
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Gifts from IRAs, Part 5
Case of the Week
Quentin Charles Douglas was the firstborn child in a large family. Throughout his childhood, Quentin's parents worked hard to put food on the table for their children. They also instilled in Quentin the value of hard work and saving money. Quentin took those lessons to heart, putting forth his best effort in school, finding a rewarding job and putting away as much in savings as he could. For many years,...
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Foundation's Scholarships Not Taxable
Private Letter Ruling
Foundation requests advance approval of its educational grant procedures under Sec. 4945(g). Foundation will operate a scholarship program. The scholarship program will provide funding to young adults to help them achieve their educational goals and avoid the financial burden of student loans. Scholarships will primarily be offered to high school graduates pursuing an...
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2021 Charitable Contribution Opportunities
Article of the Month
In early 2020, the economy saw a sharp decline as the coronavirus began to spread throughout the United States. Shortly thereafter, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted to aid the nation's economic recovery. In part, this bill set forth temporary changes to encourage charitable giving during this challenging period. A number of these changes were extended through 2021...
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Deduction Calculator
The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Run charitable deduction calculations for your favorite gift plan.
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Charitable Tax Reference
GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website.
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