The portability of the lifetime estate and gift tax exemption amount between spouses was introduced in the 2010 tax law. But details of portability aren’t well-known, and misunderstandings can cost an ...

The income limits for each tax bracket are increasing slightly in 2025. Calculate your taxable income by subtracting ...

Taxpayers should prepare for major tax-policy shifts this year. Forbes’ expert contributors explain how — and when — key rule changes may affect you. With so many rule changes taking effect at once, a ...

Life happens, and sometimes the April 15 tax deadline slips by. When it does, the IRS charges penalties based on which deadline you missed — filing, payment or both — and the costs vary depending on ...

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 ...

Summary — In Estate of Rowland v. Commissioner, the Tax Court held that estate tax returns filed solely to elect portability must still be complete and properly prepared. Even when no estate tax is ...