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Friday December 4, 2020

Advisor Resources

Advisor Resources
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.
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Washington News

IRS on Schedule For Tax-Filing Season
IRS Commissioner Charles Rettig testified before the House Ways and Means Oversight Subcommittee on November 20, 2020. He reported that the IRS is on schedule for the upcoming tax season. Rettig was asked about the backlog of millions of pieces of mail stored in IRS warehouses during the COVID-19 shutdown. He explained that the IRS still has about three million pieces of unopened mail, with an estimated one million unprocessed income tax returns from last year. Rettig also discussed the efforts of the IRS to continue operations during the COVID-19 pandemic. He noted, "More than two years into my term as Commissioner, I remain extremely proud to be working for the IRS and excited about the future of our...
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GiftLaw Pro

Charitable Tax Reference
GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...
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Deduction Calculator

Deduction Calculator
The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...
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Case of the Week

The Gas Guzzler's Deduction, Part 1
Brandon loves his truck, which he affectionately named "the Beast." It was a gift for Brandon's 18th birthday. It is painted bright red and is two tons of metal, muscle and noise. Indeed, many...
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Private Letter Ruling

Trust Termination Granted Gift Tax Deduction
Taxpayer and Spouse created a charitable remainder annuity trust under Sec. 664(d)(1). Taxpayer and Spouse are the annuity beneficiaries of the trust and Taxpayer is the trustee. Foundation, a private...
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Article of the Month

Charitable Gifts of Real Estate - Part III
For many donors, the most significant part of their net worth is real estate. Thus, donors regularly make real estate charitable gifts. As a general rule, many charities prefer gifts of cash, stocks...
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