Florida Elder Law & Estate Planning Blog

biden tax proposal
Biden’s Tax Proposals And Your Estate Plan
June 26, 2021

The Biden Administration’s tax proposals have been on the minds of many of our clients.  You may be wondering if and how your estate plan will be impacted, and what you should do now to minimize your heirs’ tax liability. …

RMD’s Return This Year, More RMD Changes On Horizon
January 13, 2021

Many of the rules governing retirement accounts have changed over the last few years. Now, more changes have arrived or are on the way. Required Minimum Distributions Return In 2021 The Coronavirus Aid, Relief and Economic Security Act, passed in…

estate tax
Federal Estate Tax: How It May Impact You and Your Family
November 27, 2020

The federal estate and gift tax has long been the cause of confusion, due in part to frequent changes in the law over the past decades. Whether you have an estate plan in place or are just embarking on your…

IRS gives more Americans access to corona virus-related penalty-free loans, distributions from retirement accounts
June 24, 2020

The CARES Act was designed to provide a measure of financial relief to Americans impacted by the coronavirus pandemic. The two-trillion-dollar legislation was passed on March 27, 2020. As noted in a prior post, among the law’s provisions is an…

IRS gives most individual taxpayers until July 15 to file
IRS gives most individual taxpayers until July 15 to file
March 17, 2020

The Internal Revenue Service has just announced that most Americans will have an additional 90 days to pay taxes due to the unprecedented situation we are facing. This pushes the deadline date from April 15 to July 15, 2020. The…

Breaking Up With Your High-Tax State Can Be Hard To Do
Breaking Up With Your High-Tax State Can Be Hard To Do
August 10, 2019

Increasing numbers of people are fleeing high tax states for lower-tax environments such as Florida. People have always moved to Florida to escape estate taxes and income taxes, of course. However, the migration has kicked into higher gear of late…

New 1040 Tax Form: Really Simpler?
August 4, 2018

In keeping with the administration’s vow to simplify tax filing, the Internal Revenue Service is putting finishing touches on its revised 1040 income tax form. Although not quite the postcard size touted by the administration, it is indeed smaller: The…

IRS calling? This time, it may be legitimate
May 18, 2017

Consumer advocates are warning taxpayers about a new program that went into effect in April that permits the Internal Revenue Service to use private debt collection agencies. Targeted taxpayers will be those the agency has already contacted but who remain…

IRS relaxes rule for late retirement plan rollovers
September 24, 2016

Taxpayers rolling over a distribution from an IRA or other retirement account into another account must complete the rollover within 60 days of taking the distribution, or face paying income tax on those funds. In the past, if you failed…

Our client who left it all to the IRS (and not by mistake)
January 23, 2012

How do Americans feel about taxes? You might think you know the answer, but surprisingly, a Pew Research Center survey back in December revealed that over half of Americans think that what they pay in taxes is “about right.” People…