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ACC 565 Week 10 Assignment 4 Tax-Planning Client Letter on
Irrevocable Trusts, Gift Tax, and Estate Tax
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ACC 565 Week 10 Assignment 4 Letter to Client
TAX-PLANNING CLIENT LETTER ON IRREVOCABLE
TRUSTS, GIFT TAX, AND ESTATE TAX
Suppose you are a CPA, and your client has requested advice regarding
establishing an irrevocable trust for his two (2) grandchildren. He wants
the income from the trust paid to the children for 20 years and the
principal distributed to the children at the end of 20 years.
Use the Internet and Strayer databases to research the rules regarding
irrevocable trusts, gift tax, and estate tax. Be sure to use the six (6) step
tax research process in Chapter 1 and demonstrated in Appendix A of
your textbook as a guide for your written response.
Write a one to two (1-2) page letter in which you:
Analyze the effect of an irrevocable trust on the gift tax and future estate
taxes.
Suggest other significant alternatives that the client could use both to
reduce estate tax and to maximize potential advantages of the payment
of gift taxes on transfers of property.
Use the six (6) step tax research process, located in Chapter 1 and
demonstrated in Appendix A of the textbook, to record your research for
communications to the client.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with
one-inch margins on all sides; citations and references must follow APA