On January 10, 2025, the United States Internal Revenue Service (the "IRS") released final regulations (the "Final Regulations") under section 6011 ...

With the new administration in office, discussions around potentially eliminating the step-up in basis are gaining momentum.

The Tax Adviser—the magazine of planning, trends, and techniques—reports and explains federal tax issues to tax practitioners.

Because the amount of capital gain determines the amount of capital gains tax owed, basis step-up is considered one of the most powerful and important tools in the estate and tax planning universe.

the $1.25 million deduction begins to decrease on a dollar-for-dollar basis. What this means is Section 179 is a true small and midsize business tax deduction, as those types of companies will ...

For example, when a partnership has an IRC Section 754 election ... in the IRC if the parties include “tax-indifferent parties” that achieve a stepped-up basis by participation in the transaction.