We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations. Also, as a convenience to you and your clients, we have provided you with sample bequest language and our tax ID number should your clients want to include SPU in their estate plan.
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On July 21, the Internal Revenue Service announced it sent out an additional 2.2 million Economic Impact Payments. With the additional payments, the American Rescue Plan has now distributed 171 million payments with a total value of over $400 billion. The IRS continues to send out payments each week. The 2.2 million payments had a value of approximately $4 billion. These included 1.3 million distributions to individuals who were previously not known to the IRS because they were not typically required to file tax returns. These individuals received an Economic Impact Payment by filing a 2020 tax return, many used the IRS Free File system. There were also 900,000 "plus-up" payments with a value of $1.6 billion. These were paid to individuals who based on filing their 2020 tax return qualified to receive the supplemental payments. The IRS reminds taxpayers that they may file at any time. While the tax deadline was May 17 (or October 15 for those who filed for an extension), the Economic Impact Payments will be distributed to eligible individuals who file at any...
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GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...
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The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...
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