IRS Form 708 is here. 40% Tax on Gifts & Bequests from Covered Expatriates (former citizens and green card holders). Transfer ...
Parents who put money into their children’s “Trump Accounts” might face a headache come tax time: Even the smallest contributions may require them to fill out a little-used gift tax form that can take ...
Newborns can look forward to the promised Trump accounts in the new year, but if parents, grandparents, friends or relatives plan to contribute, they can look forward to a tax headache, experts said.
According to a report by the Washington Post, the issue stems from an oversight in the “One Big Beautiful Bill” law passed this summer. The core problem is technical but severe. Under current IRS ...
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