The decedent’s note was silent on how interest was to be calculated, and the court would not consider extrinsic evidence in the form of amortization schedules, so the interest on the unpaid principal was to be calculated as simple interest … Continue reading
Tag Archives: Interest
The Internal Revenue Service has announced federal rates for the month of September under §§ 1274 and 7520 of the Internal Revenue Code (“IRC”) that will be the lowest rates since the IRS began publishing those rates in 1984. The … Continue reading
The article “Low-Interest Estate Planning Strategies” described several estate planning strategies that should be considered now that interest rates have reached record lows. One of the strategies that is described in the article is an interest-only term note. A new … Continue reading
I’ve created a new on-line service that provides specialized calculators for certain estate and tax planning issues. Currently, the following calculators are available: Cost/Benefit of Gifts of Appreciating Property Cost/Benefit of Grantor Trusts Gift Tax on Net-Net Gifts Income Tax … Continue reading
HTML Version Copyright 1995- Daniel B. Evans. All rights reserved. (Current through March 2025) Interest on underpayments of federal tax must accrue interest, compounded daily, at rates published quarterly by the Internal Revenue Service in accordance with section 6621 of the … Continue reading