Learn how to handle issues presented by intra-family promissory notes. Originally presented as part of the 62nd Annual Estate Planning Short Course, available in its entirety as P9004-19U.
Credits: 1 General, 0 Diversity/Inclusion PR, 0 MH/SA PR, 0 Other PR
The Perils and Pitfalls of Promissory Notes
Learn how to handle issues presented by intra-family promissory notes, including gifts caused by below AFR interest (Section 7872), income tax consequences if interest is not paid at least annually under the original issue discount rules (Section 1272 and related Sections), and non-business bad debt deductions (Section 166(d)).
Michael S. Strauss, Strauss Malk & Feder LLP, Northbrook