Comprehensive List of Advocacy Issues for Trust, Estate and Gift Tax
This section includes information on legislative, regulatory, and administrative advocacy related to estate, gift, and trust taxation
Published on March 31, 2014
AICPA Asks Congress to Prevent Turmoil for Inter-Generation Gifts
Several provisions related to generation skipping transfers and estate and gift taxes will expire next year absent congressional action. The AICPA urged Congress to maintain several provisions that will make planning much easier and avert considerable confusion
Published on January 06, 2012
AICPA Request for Guidance on Splitting Gifts when Donee Spouse has an Interest - June 26, 2007
This is a 6/26/07 AICPA letter to the IRS suggesting guidance be issued on the ability of a husband & wife to split gifts under section 2513 when the donor spouse makes gifts to a trust, the donee has an interest, and all transfers made may be withdrawn by beneficiaries
Published on March 14, 2012
AICPA Letter to the IRS Requesting Guidance on Gift Splitting - June 26, 2007
This is the June 26, 2007 letter to the IRS requesting guidance on the ability of a husband and wife to split gifts under section 2513 when the donor spouse makes gifts to a trust, the donee spouse has an interest in the trust, and all the transfers made to
Published on April 21, 2011
AICPA Comments to IRS on Foreign Gift Reporting Threshold for Form 3520 - March 3, 2008
This is the 3/3/08 AICPA letter to the IRS on increasing the foreign gift reporting threshold for Form 3520. AICPA believes the Treasury Department & IRS have the authority to increase the reporting threshold for gifts received from a foreign individual or estate. Gifts...
Published on March 14, 2012
AICPA Efforts and Updates on Erroneous IRS Form 3520 Letters
...Trust Task Force continues its dialogue with the IRS regarding IRS erroneous letters regarding Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts. As was discussed in the October 1
Published on December 11, 2012
AICPA Offers Comments on Generation-Skipping Transfer Safe Harbor Regs.
Safe Harbor Suggestions under Proposed Section 2642(g) Regulations.
Published on September 12, 2012
IRS Correcting Problem Flagged by AICPA
The CPA Advocate: October, 2012. After learning from the AICPA that taxpayers who file foreign trust forms are receiving erroneous letters from the IRS, the Service stopped issuing new letters and will work with the AICPA to resolve the systemic problem.
Published on October 18, 2012
IRS Accepts AICPAs Suggestions Related to Form 3520
The CPA Advocate: July, 2014. The AICPA's suggestions that were accepted by the IRS should help prevent taxpayers who file the foreign trust reporting form from receiving incorrect letters and penalty assessments.
Published on July 29, 2014
AICPA Alerts IRS that Many Taxpayers Are Receiving Erroneous Letters
The CPA Advocate: September, 2012. The erroneous letters IRS is sending to numerous taxpayers who file foreign trust forms is a widespread problem, the AICPA told the IRS, and urged IRS to investigate and correct the problem.
Published on September 19, 2012