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The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.

IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed

⏲ 1:29 👁 5.7M

*ICC prosecutor demands arrest warrants for Israeli PM and Hamas leadership.<br/>*Assange wins bid to appeal U.S. extradition ruling.<br/>teleSUR<br/><br/>These and more stories now!<br/><br/>Visit our website: https://www.telesurenglish.net/ Watch our videos here: https://videos.telesurenglish.net/en

FTS 16:30 20-05:Iran declares 5 days of mourning after president's death

⏲ 23:17 👁 10K

FTS 12.30 <br/>*Iran declares 5 day of mourning after Pres. Raisi’s death<br/>*Assange wins bid to appeal U.S. extradition ruling<br/>

FTS 12:30 20-05: ICC Prosecutor demands arrest warrants for Israeli PM and Hamas leadership

⏲ 22:13 👁 10K

The International Court of Justice (ICJ) orders Israel to halt military operations in Rafah, a landmark ruling likely to increase mounting international pressure on Israel more than seven months into the Gaza war. The ICJ also demands the immediate release of all hostages still held by Palestinian militants, hours after the Israeli military announced troops had recovered the bodies of three more of the captives from north Gaza.

Top UN court orders Israel to 'immediately halt' offensive in Rafah

⏲ 0:54 👁 5K

At today's Senate Judiciary Committee hearing, an argument between Sen. John Kennedy (R-LA) called to appeal Sen. Laphonza Butler's (D-CA) ruling over his belief that she allowed a nominee to change her testimony.<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com

SHOCKING MOMENT: John Kennedy, Ted Cruz Have Epic Confrontation. With Laphonza Butler, Democrats

⏲ 6:19 👁 5K

Lawmakers from the opposition Kuomintang and Taiwan People's Party are facing off once again with the ruling Democratic Progressive Party in a bid to pass controversial reforms that would grant the legislature greater oversight over the government. The DPP says the changes have not been properly reviewed and is calling for the bills to be sent back to committee for further discussion.

Controversial Political Reforms Divide Taiwan Legislature and Society

⏲ 2:17 👁 5K

In case you missed it, here’s what happened in Taiwan on Saturday when Parliamentarians descended into chaos over a series of reform bills. Among the points of contention were: <br/><br/> 1. The president must give a speech in parliament every year and answer questions right away: Currently, the president gives a speech but doesn't have to answer questions until later. The new law would change this.<br/>2. Allowing parliament to investigate anyone, even private citizens: The proposed law would let parliament set up special committees to investigate any person or organisation, even those not in the government. It would also punish people who refuse to cooperate or lie during these investigations.<br/>3. Criminalisation of false statements in parliament: Another part of the law would make it a crime for government officials to lie or provide false information during parliamentary sessions. They could face penalties if found guilty.<br/><br/>These suggested changes sparked a heated debate between the ruling party (Democratic Progressive Party) and the opposition parties (Kuomintang and Taiwan’s People’s Party). They fought over who should have more control - the president and the government, or the parliament. <br/><br/>

Legislative Showdown in Taiwan: Here’s what happened!

⏲ 1:53 👁 5K

The European Parliament has voted to adopt the Corporate Sustainability Due Diligence Directive, aimed at ruling out human rights and environmental abuses in the EU market’s supply chains. How will Taiwanese suppliers be affected? <br/><br/>On this episode of Zoom In Zoom Out, TaiwanPlus reporter Sally Jensen speaks to Armin Ibitz, an associate professor of European studies at Wenzao Ursuline University. We first zoom in on the current situation in Taiwan’s tech manufacturing sector, then zoom out to understand how they are adjusting to new EU guidelines.

Will EU Regulations Impact Taiwan’s Suppliers?

⏲ 15:0 ✓ 23-May-2024

The Chamber of Deputies approved on Tuesday, by 152 votes in favor to 81 against, a motion to summon the Education and Budget and Finance Commissions to rule this Thursday on projects to automate budget increases for public universities, so that they do not depend on the will of the government of the day, and also to issue rulings on the following Thursday on the National Teacher Incentive Fund. teleSUR

Argentina: opposition calls on the government to discuss by law the budget increase for universities

⏲ 0:37 ✓ 23-May-2024

A day before President-elect Lai Ching-te's inauguration, the opposition Taiwan People's Party has staged a rally highlighting what it says are the shortcomings of the ruling Democratic Progressive Party.

Opposition Rally Sends Warning to President-Elect Lai Before Inauguration

⏲ 2:34 ✓ 21-May-2024

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