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Tax Law Roundup current law developments in U.S. taxation

Tag Archives: Trusts and Estates

New Basis Reporting Requirements for Executors and Beneficiaries

Posted in Estate and Gift, Tax, trusts and estates

Recent federal legislation adds fresh compliance burdens to an old concept in federal tax law: the step-up in tax basis of appreciated property at death.  New reporting requirements will apply to estates required to file a federal estate tax return after July 31, 2015 and are effective beginning June 30, 2016. Executors and beneficiaries who do… Continue Reading