Trust Estate & Gift

    Trust, Estate and Gift Tax Advocacy 

    Covered here is information related to trust, estate, gift, and generation-skipping transfer (GST) tax developments, including legislative and regulatory activity and AICPA comments suggesting improvements to the trust, estate, gift, and GST tax rules. 

    The Trust, Estate and Gift Technical Resource Panel continues to monitor these advocacy issues.

    News and Developments
    Key Advocacy Issues

    Same-Sex Married Couples Estate and Gift Tax Issues

    AICPA continues to monitor, comment, and develop tools and information regarding the same-sex married couples and the Defense of Marriage Act (DOMA) estate and gift tax issues and guidance.

    Portability (2011 and later years deaths)

    Tools and information have been developed regarding the portability rules applicable to a spouse who died after 2010 and the entered applicable exclusion amount was not used. 

    Estate Tax Legislation/Reform

    AICPA continues to advocate to Congress for simplification of the estate, gift, and GST current rules.

    Trust Investment Advisory Fees

    AICPA continues to monitor and comment on the trust investment advisory fee rules, including on legislation and regulations.

    Foreign Trust Reporting

    AICPA continues to identify, monitor, and address various foreign trust reporting issues, including Forms 3520 and 3520A compliance.

    Comprehensive List of Advocacy Issues

    AICPA comments on many issues regarding trust, estate, and gift tax, both legislative and regulatory.  Available are all the current comments, as well as prior year comments.
    Resources

    For practice support resources in this area, visit the Trust, Estate, and Gift Tax Resources page.

    It contains checklists, webcats, articles, tools and practice aids to assist members in tax practice.

    Copyright © 2006-2014 American Institute of CPAs.