News & Analysis as of September 7, 2025

Internal Revenue Service

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Estate taxes, also known as inheritance or death taxes, are taxes on an individual's right to transfer property at death.

Parallel Play: The U.S. Senate Finance Committee Releases Its Version of the “Big, Beautiful Bill”

Pillsbury Winthrop Shaw Pittman LLP on 6/23/2025

When toddlers engage in parallel play, the children play adjacent to each other, but do not try to influence one another’s behavior. Apparently, parallel play can extend well into adulthood and to the writing of federal...more

Impact of House Ways and Means Tax Proposals for Trusts, Estates, and Retirement Accounts

Bowditch & Dewey on 9/29/2021

In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more

Year-End Tax Planning: Steps to Take Now for 2021

Gibney Anthony & Flaherty, LLP on 12/8/2020

During this election year, with the determination of the Senate seats not taking place until January 2021, taxpayers will be faced with uncertainty in their approach to planning. The outcome of the Senate will play a key role...more

Congress Releases Revised Conference Bill on Tax Reform - A Look at How It Compares with Earlier House and Senate Bills

Holland & Knight LLP on 12/20/2017

Congress released the "Tax Cuts and Jobs Act" on late Friday evening, Dec. 15, 2017. This version of the bill is the result of a conference committee process to marry the different bills previously passed by the U.S. House of...more

Income Tax Reporting for Decanting

BakerHostetler on 6/23/2014

Decanting refers to the distribution of trust property of one trust (the “first trust”) to another trust (the “second trust”). Over the past several years, the number of states specifically authorizing decanting by statute...more

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