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Attaching Notes to Tax Returns

Posted By Jim On 03/16/2007 @ 3:20 pm In Taxes | 4 Comments

Kerry M. Kerstetter’s blog, Tax Guru [3], is a great source of wisdom if you ever have any tax questions and didn’t know who to turn to. I’ve personally sent a question in to Kerry and he answered it both in an email and on his site within a couple days so I can assure you all those questions are real and he’s as knowledgeable, helpful and nice as he seems.

Well today there was an article about someone’s mother looking to give gifts to her children [4] and what the tax rules regarding that. It wasn’t the “impoverishment planning” for Medicaid eligibility that was surprising (or the fact that there planners and experts in the field of “impoverishment planning”), but Kerry recommends that if they do receive a gift that they send a note along with the return explaining that they received a gift and to discount anything that may seem out of place (like a large donation or other tax related item). I had never heard of attaching notes to a return and didn’t think anyone would ever see it if you did attach something.

Anyone ever heard of this?


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[3] Tax Guru: http://www.taxguru.net

[4] mother looking to give gifts to her children: http://www.taxguru.net/2007/03/gifting-out-bulk-of-assets.html

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