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Thursday December 2, 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.
National Tax Security Awareness Week
Washington News
On November 19, 2021, the Internal Revenue Service announced that National Tax Security Awareness Week will take place from November 29 through December 3, 2021. The IRS Security Summit sponsors this week each year. Security Summit professionals warned about increased risks during the coming months. Fraudsters continue to trick people into sharing financial information. The scammers may use email, text...
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George's
Case of the Week
George Green was a man of humble beginnings. George was both resourceful and determined to succeed. He enrolled in chemical engineering and studied diligently. His work ethic was quickly recognized by faculty. After graduating with honors, he became a graduate assistant and earned a master's degree in engineering. He interviewed and became a product development engineer with a company that built emissions...
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Extension for Portability Election Granted
Private Letter Ruling
Decedent passed away and was survived by Spouse. Decedent's estate (Estate) was not required to file a Form 706 U.S. Estate Tax Return under Sec. 6018(a). Estate represents that there was an unused portion of Decedent's applicable exclusion amount and that the portability election allows Spouse to take into account the deceased spousal unused exemption (DSUE). For various...
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Giving Now and Later: The ACE Act's Proposed Donor Advised Fund Rules
Article of the Month
Donor advised funds have been around for almost a century. The first donor advised fund (DAF) emerged in the early 1930s. DAFs became more popular and commercialized in the 1990's with the creation of charitable arms of large financial institutions. Tax law evolved over the years to distinguish public charities from private foundations, without codifying DAFs until 2006. Congress passed the Pension...
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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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