News & Analysis as of

Internal Revenue Service Medicaid Gift Tax

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Mandelbaum Barrett PC

Can I Give My Kids $19,000 a Year and Apply for Medicaid?

Mandelbaum Barrett PC on

If you have money to give your children, you certainly can, but you should be aware that you may face consequences should you apply for Medicaid long-term care coverage within five years after each gift. Medicaid’s rules...more

Royer Cooper Cohen Braunfeld LLC

One Big Beautiful Bill Expands Key Tax Incentives Including Section 1202 Qualified Small Business Stock and Qualified Opportunity...

The reconciliation bill, known as the “One Big Beautiful Bill” (the “BBB”), was recently signed into law on July 4th. The BBB, among many other things, made significant changes in tax law, building on the foundations created...more

Chambliss, Bahner & Stophel, P.C.

IRS Issues Final Regulations for ABLE Accounts

The Internal Revenue Service (IRS) has issued final regulations covering tax-free savings accounts that allow people with disabilities and their families to save and pay for disability-related expenses without jeopardizing...more

Chambliss, Bahner & Stophel, P.C.

Can I Give My Kids $15,000 a Year?

If you have it to give, you certainly can, but there may be consequences should you apply for Medicaid long-term care coverage within five years after each gift. The $15,000 figure is the amount of the current gift tax...more

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