Dow Jones Newswires, in an article titled "IRS Silent So Far On New US Tax Rules For Inherited Wealth," reports that the IRS has taken a "wait-and-see approach" towards issuing new guidance concerning inheritance taxes as it awaits congressional action. The article quotes IRS spokesman Bruce Friedland as saying, "We are currently looking at the issues involved to determine the best course of action." In the meantime, the article notes, estate planners are unsure how to proceed, particularly in light of the new capital gains-tax regime that came into effect this year.
Posted by Patrick Siegfried, Associate Editor, Wealth Strategies Journal.
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