Don’t Let Overzealous Tax Planning Trigger New Taxes!
My phone has been ringing off the hook-(ask someone over 50 to translate). The calls-and emails, are in response to recent IRS Revenue Ruling 2023-2. The ruling states that assets transferred into an irrevocable trust, which are not includible in the taxpayer’s Estate at death, will go to the new owner with “carryover basis” as