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For Advisors
Saturday September 24, 2022
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.More |
Washington News
On September 15, 2022, Treasury Secretary Janet Yellen spoke to IRS staff in New Carrollton, Maryland. She highlighted IRS improvements that will result from the Inflation Reduction Act.
Yellen started by explaining she favors a simple tax filing system. She noted that the typical American takes 13 hours to file a tax return. This is a dramatic contrast with Sweden, where many taxpayers file automatically through a text message.
Yellen admitted that the IRS Tax Assistance Centers have been "massively understaffed and under-resourced." She insists that all Americans should be able to receive in-person assistance as needed. During the past tax season, 900,000 Americans received in-person assistance. The...More |
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GiftLaw Pro
GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...More |
Article of the Month
The American Council on Gift Annuities reports that the most popular age for an initial gift annuity is mid-70's. Because the Quiet Generation was born during the Great Depression and World War II, the number of babies was lower during both times of great distress. This Quiet Generation reached age 75 starting in 2005. Because of low birth rates for the Quiet Generation, the number of Americans turning age 75 each year has been lower than previous generations for the past decade.
However, in 1946 the...More |
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Case of the Week
Quentin Charles Douglas was the firstborn child in a large family. Throughout his childhood, Quentin's parents worked hard to put food on the table for their children. They also instilled in Quentin...More |
Private Letter Ruling
Organization applied for exempt status under Sec. 501(c)(3). Organization's Articles of Incorporation are silent with respect to its purpose and disposition of assets upon dissolution. Organization's...More |
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