In the year that a taxpayer dies there may still need to be one or more tax returns that are required to be filed after their death. The need for these filings is dependent upon the income that the ...

Forbes contributors publish independent expert analyses and insights. Andy Weiner is an attorney covering tax controversy and policy issues. Jan 06, 2025, 12:28am EST In 1789, Benjamin Franklin wrote ...

In Estate of Liftin, No. 10-589 (Fed. Cl., March 29, 2013), the Court of Federal Claims held that an estate was subject to a late-filing penalty due to its failure to timely file its estate tax return ...

The court agreed with the IRS, ruling the $3.7 million unused exclusion could not be applied. The case highlights the risks for wealthy families, particularly those with combined estates over the $15 ...

Tax Day is just around the corner and millions of taxpayers have yet to file their tax return. If you’re one of those taxpayers who still needs to file—and you’re not ready—there’s an easy answer: ...

The Tax Court denied an estate’s claim of a deceased spousal unused exemption (DSUE) amount, holding that the decedent’s predeceased spouse’s estate did not make a valid portability election (i.e., an ...

An Ohio businessman’s heirs are facing $1.5 million in additional estate taxes after a paperwork error disqualified them from a key tax break for married couples ...