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The IRS Announces the 2020 Estate Tax Exemption and the 2020 Gift Tax Exemption Every year the Internal Revenue Service (IRS) releases the annual estate tax exemption for those passing away during the calendar year as well as...

Illinois Estate Tax Exemption and Calculation Planning your estate is a necessary step in making sure your heirs get the property they are entitled to. In Illinois, like the federal government, there is a tax placed on the...

Is Gift Tax Due Immediately Upon Making or Receiving a Gift? For 2019, the annual gift tax exclusion set by the I.R.S. is $15,000 per person making the gift, and per recipient.  Married couples can gift double that amount...

IRS Announces the 2019 Estate Tax and Gift Tax Exemptions The Internal Revenue Service (IRS) has announced the estate tax exemption and gift tax exemption amounts for 2019. The 2019 Federal estate tax exemption will be...

What is the Illinois Estate Tax? Many Illinois residents are surprised to learn that Illinois has an Estate Tax separate from the more familiar Federal Estate Tax. The Illinois Estate Tax provides for a $4,000,000 exemption...