With the increase of the gift tax exemption to $5,000,000 in 2011, the IRS has been seeking real estate records from different states in an effort to penalize families seeking to take advantage of the increased exemption amount without filing a gift tax return. The Wall Street Journal summarizes a recent failed attempt by the IRS to seek records in California.
IRS Seeks State Real Estate Records
By On the Net|2011-05-26T09:37:13-07:00May 26th, 2011|
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