Civil Union

IRS Issues Ruling on Tax Filings for Same Sex Couples

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tax filings for same sex couples

Yesterday the Internal Revenue Service issued an important ruling in the wake of the Windsor case in which the Supreme Court ruled that the Defense of Marriage Act was unconstitutional.  Specifically the IRS stated that it will recognize all same sex marriages regardless of where the couple was married.  The Supreme Court did not specifically address what would […]

Administrator

New Jersey Estate Tax

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New Jersey Estate Tax

New Jersey has many different types of taxes, including two different taxes on death: the NJ Estate Tax and the NJ inheritance tax. The New Jersey estate tax is a tax on transfers at death and certain transfers in contemplation of death. Transfers to charities, a surviving spouse or a surviving Civil Union partner are exempt […]

Civil Union

New Jersey Estate Tax for Non-Residents Coming?

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New Jersey Estate Tax for Non-Residents

New Jersey State Senator Andrew Ciesla, a Republican from Brick, has introduced legislation to modify the New Jersey estate tax so that non-residents, in addition to residents, are responsible for paying the tax. Currently, New Jersey has two types of death taxes. There is the New Jersey estate tax, which generally imposes a tax of […]

Civil Union

Beware the Compromise Tax

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Beware the Compromise Tax

One area of estate administration that often gets overlooked on tax returns is the compromise tax. When a decedent transfers assets that are subject to a contingency or are otherwise difficult to value, the taxing jurisdiction and the estate must compromise on the tax due. There are a variety of reasons an asset may be […]