Portability… How Valuable Is It?

Each United States resident is subject to the federal estate and gift tax and is entitled to a $5.450 million applicable exclusion amount (“AEA”)  (often called the Unified Tax Credit or the basic exclusion amount) which reduces their federal gift and estate tax. Technically, the $5.450 million does not directly…

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Beware… the IRS “Secret” Lien

Many attorneys rely exclusively on the Internal Revenue Code as the “bible” for tax law. However, many other provisions in the United States Code apply to taxes and one is the “secret lien”, secret only because there is no filing or notice other than Section 3713 of the United States…

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