Georgia residents may not be familiar with a law passed in 2007 that allows a spouse to elect and claim the unused part of their deceased spouse's exclusion with respect to federal estate tax. The exclusion, called a DSUE, is the allowed exemption amount from estate...
Estate Taxes
Understanding the major estate tax issues for surviving spouses
Georgia residents with an interest in tax issues may wish to know about new regulations that are expected to be issued by the IRS. Legal and accounting professionals are notifying clients about this matter, which affects estate taxes and could have serious tax...
Michael Jackson’s estate valuations
Georgia fans of Michael Jackson's music may be interested to learn that on Oct. 20, the Internal Revenue Service admitted to making an error in its valuation of the late musicians estate. The report stated that the mistake actually increased the estate tax by...
Estate tax consequences too easily overlooked
The consequences that can come about due to estate or inheritance tax are often overlooked due to too many individuals simply assuming the tax will not apply to them. We need to keep in mind that real estate prices are on the rise the possibility of such a tax is a...