Posted by: Chris Valponi, CPA
The Celiac Tax Deduction; Some Clarity from the IRS
Taxes - Corporate & Business , Taxes - Planning, Rules and ReturnsPosted by Howard Kass, CPA
With just days left before the Sept 19, 2011 filing deadline for 2010 Federal Estate returns, the IRS posted the final Form 706 and Instructions on their website on 9/8/2011.
Still awaiting Final Form 8939 – Allocation of Increase in Basis for Property Acquired From a Decedent. Previously, the AICPA had requested that the IRS and Treasury provide a blanket extension until 90 days after the forms and instruction are finalized. No final word received yet.
Impact on 2010 Individual, Estate or Trust Returns
Taxes - Planning, Rules and Returns , Estates, Gifts & Trusts2010 Individuals, estate or trusts, who inherited property and sold it during 2010 have to file their returns by October 15, 2011.
Posted by: Mary Ann Mezacapa
Zinner’s Courtney Ockenden rounded up our lovers of baking to support their passion for our furry friends to host our 2 nd Annual Bake Sale on Monday, August 29th.
Courtney’s enthusiasm for the Organization is contagious! Thanks to the commitment of our coworkers and their families, the bake sale offered a tremendous array of delicious and beautifully presented homemade treats.
With the support of the Zinner staff, our clients, service providers, friends and family, we once again raised over $400, contributed directly to the Geauga County Humane Society.
The bake sale is held in conjunction with the upcoming Woofstock 2011 Annual Dog Walk and Family Festival for Pets and their People.
Below is a fundraising page that Courtney initiated that you are welcome to join, donate, or forward to anyone whom you feel might be interested. Woofstock this year will be held on September 11 th at the Holden Arboretum. Please see the website for more information.
http://www.firstgiving.com/fundraiser/teamzinner/woofstock2011
Zinner’s Courtney Ockenden rounded up our lovers of baking to support their passion for our furry friends to host our 2 nd Annual Bake Sale on Monday, August 29th.
Courtney’s enthusiasm for the Organization is contagious! Thanks to the commitment of our coworkers and their families, the bake sale offered a tremendous array of delicious and beautifully presented homemade treats.
With the support of the Zinner staff, our clients, service providers, friends and family, we once again raised over $400, contributed directly to the Geauga County Humane Society.
The bake sale is held in conjunction with the upcoming Woofstock 2011 Annual Dog Walk and Family Festival for Pets and their People.
Below is a fundraising page that Courtney initiated that you are welcome to join, donate, or forward to anyone whom you feel might be interested. Woofstock this year will be held on September 11 th at the Holden Arboretum. Please see the website for more information.
http://www.firstgiving.com/fundraiser/teamzinner/woofstock2011
Pictured: Our main baking contributors Courtney Ockenden, Mary Ann Mezacapa & Colleen Kaminsky
The previously issued proposed regulations issued in July 2007 regarding trust investment advice costs have been withdrawn and new proposed regulations have been issued.
AICPA tells IRS to extend the deadline for 2010 estate tax forms
Taxes - Planning, Rules and Returns , Estates, Gifts & TrustsAs of now, the deadline for filing 2010 Form 706 is September 17, 2011. The due date for filing Form 8939, as mentioned above, is November 15, 2011. Both the 706 and 8939 have only been issued in draft form.
2010 Form 8939 is Due Nov. 15; Reporting Option Applies to Many Large Estates
Taxes - Planning, Rules and Returns , Estates, Gifts & TrustsThe Internal Revenue Service issued guidance on the treatment of basis for certain estates of decedents who died in 2010 (See Notice 2011- 66 and Rev. Proc. 2011- 41) The guidance assists executors who are making the choice to opt out of the estate tax and have the carryover basis rules apply.
Draft Form 706 for 2010 decedents reflect law changes; Released on IRS website!
Taxes - Planning, Rules and Returns , Estates, Gifts & TrustsThe draft Form 706 was posted to the IRS website. For your convenience, here is a direct link to the form http://www.irs.gov/pub/irs-dft/f706--dft.pdf. It will only be used for decedents dying in 2010. If electing the modified carryover basis and zero estate tax, the instructions to the form still don’t explain how to make the election.
Have Nagging Financial Questions?
