Searching Content indexed under Inheritance Tax by Frankfurt Kurnit Klein & Selz ordered by Published Date Descending.
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Appraisal Relied On By Estate Undervalued Paintings By $1.77 Million
Recently, in Estate of Kollsman v. Commissioner the U.S. Tax Court held that an art collector's estate significantly underreported the value of two artworks for estate tax purposes.
United States
5 Apr 2017
New Jersey Proposes Estate Tax Repeal
In a joint appearance on September 30, 2016, Governor Chris Christie and legislative leaders announced a bipartisan agreement to repeal the New Jersey Estate Tax.
United States
18 Oct 2016
IRS Proposes Rules To Deny Estate And Gift Tax Discounts For Family Businesses
There's important news for family business owners and their heirs. On August 4, 2016, the IRS released proposed regulations to change significantly the valuation of family businesses.
United States
30 Aug 2016
Recent Estate Tax Changes Create Planning Opportunities
On April 1, 2016, the New York State estate tax exclusion amount increased to $4,187,500, further narrowing the gap between the NYS estate tax exclusion amount and the Federal estate, gift and generation-skipping transfer tax exemption amounts.
United States
4 May 2016
The Ups And Downs Of Estate Valuations Of Artwork
The court's decision is a cautionary tale illustrating that valuations should account for post-valuation date sales and market conditions if they are reasonably proximate in time.
United States
12 Jan 2016
Tax Victory For Collectors: Discounted Art Interests Turned $9 Million Tax Bill Into $14.3 Million
The Fifth Circuit issued a decision granting a multimillion dollar estate tax refund to the Estate of James A. Elkins, Jr., a prominent Houston businessman, philanthropist and art collector.
United States
24 Oct 2014
Increased Exemptions Provide Estate Planning Opportunities
The current Federal estate, gift and generation-skipping transfer (GST) tax exemption amounts are projected to increase in 2015.
United States
30 Sep 2014
New Law Significantly Impacts The New York State Estate And Gift Tax Regimes
On March 31, 2014, Governor Cuomo signed legislation to implement the New York State fiscal plan for 2014 - 2015.
United States
10 Apr 2014
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