IRS Issues its 2025 Revenue Proposals

IRS Wealth Planning>Estate Planning IRS Issues its 2025 Revenue Proposals Policy priorities in the estate and gift arena.

The IRS has published its revenue proposals, noting its policy priorities in the estate and gift arena, many of which continue from prior years:

  • Changing generation-skipping transfer (GST) rules applicable to trusts that are defined as non-skip persons because they include a charitable beneficiary.
  • Implementing rules to restrict the structure of payments to charitable lead annuity trusts (CLATs) to avoid deferring charitable payments at the expense of the charities.
  • Treating loans to beneficiaries from GST trusts as distributions for GST and income tax purposes.
  • Requiring a minimum remainder value of 25% and a term of 10 years for grantor-retained annuity trusts, among other types of trusts.
  • Prohibiting discounting the estate tax value of promissory notes issued at the minimum applicable federal rate for income tax purposes.
  • Treating carried interests as ordinary income.
  • Prohibiting the deferral of gain on the exchange of real property used in a trade or business under the like-kind exchange rules and instead treating the gains from the exchange that exceed a certain threshold as a sale.

 

TAGS: High Net Worth 0 comments Hide comments Comment * Switch to plain text editor

More information about text formats

Text format CommentsPlain text Comments
  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>
Plain text
  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
PublishLog in or register to comment Save Leave this field blank
  • Next Article
  • Previous Article

Owl Media Group takes pride in providing social-first platforms which equally benefit and facilitate engagement between businesses and consumers and creating much-needed balance to make conducting business, easier, safer, faster and better. The vision behind every platform in the Owl Media suite is to make lives better and foster a healthy environment in which parties can conduct business efficiently. Facilitating free and fair business relationships is crucial for any thriving economy and Owl Media bridges the gap and open doors for transparent and successful transacting. No advertising funds influence the functionality of our media platforms because we value authenticity and never compromise on quality no matter how lucrative the offers from advertisers may seem.

Originally posted on: https://www.wealthmanagement.com/estate-planning/irs-issues-its-2025-revenue-proposals