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In 1997, the Treasury Department simplified business entity classification for tax purposes by finalizing “check-the-box” regulations. These regulations permit most unincorporated business entities to elect, by in effect “checking a box” on an election form, to be treated as either...
Persistent link: https://www.econbiz.de/10013132835
On December 17, 2017, Congress passed the Tax Cuts and Jobs Act (TCJA). Among its many impacts, the TCJA increased the inflation adjusted estate tax basic exclusion amount to $10,000,000 on a temporary basis. This has dramatic implications for many existing and future estate plans, including a...
Persistent link: https://www.econbiz.de/10012840557