IRS Releases 2021 Estate and Gift Tax Exclusion Limits

Estate and Gift Tax Limits for 2021 Have Increased Beginning in 2021, the lifetime estate and gift tax exclusion (which is indexed for inflation) will rise to $11.7 million, up from $11.58 million in 2020. This is the limit on tax-free wealth transfers during an individual’s lifetime or at death. … Read more »

IRS Provides Extra Time for Hurricane Harvey Victims

In a quick move, the IRS has given relief to taxpayers affected by Hurricane Harvey.  As a result of the hurricane, counties suffering from the storm have been declared disaster areas.  This qualifies taxpayers for relief from filing 2016 individual and business tax returns, which are otherwise properly extended.  The … Read more »

IRS Gives Extra Time to File and Pay Taxes for Harris County Residents

Many Harris County residents have suffered greatly from the recent rains and flooding on Memorial Day 2015.  (Click here for info on 2016 floods.)  Because of the significant and wide-ranging damage, Harris County has been declared a federal disaster area.  As such, the IRS has provided an extension of time to file and … Read more »

IRS Calling. New Protocol to Initiate Taxpayer Audits

Our sister CPA firm, Maddox Thomson & Associates, recently posted an article about the IRS’ new, proactive approach to beginning an audit or taxpayer examination – they may call before you receive a letter.  Read about their recent experience here. Horizon Wealth Advisors is a Houston based fee-only wealth management … Read more »

This website uses cookies to improve your experience on our site. By using clicking ‘accept’ you consent to the use of cookies. Learn more.