Ever since the passage of the Tax Cuts and Jobs Act, the headlines have been buzzing about the resulting income tax consequences for individuals and businesses, but what about the intersection with estate planning?
The estate of the late award-winning singer and actress Whitney Houston has reportedly reached a deal with the Internal Revenue Service to pay $2,275,366 in taxes, far less than the $11.7 million the IRS said it was owed.
Expiring tax cuts, business perks and health care politics loom over House and Senate Republicans as they face the daunting task of hammering out the differences between their competing bills to rewrite the U.S. tax code.
As 2017 draws to a close, the uncertain tax and legislative environment means that year-end tax planning is more important than usual. To help individuals and businesses prepare for filing season, Grant Thornton LLP has some tips.