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In today’s Finance Pulse, gain insight into how:

• Sudden wealth can bring life-changing opportunities—but also tax pitfalls—and why proactive planning is essential for long-term financial security.

• The IRS Fresh Start program expands tax relief options, making it easier for taxpayers to access payment plans, settle debt, and avoid liens.

• Section 1202 and QSBS tax exclusions offer incredible wealth-building potential, but timing and entity structure are crucial to maximizing benefits.

Each of these articles is penned by members of Forbes Finance Council, key luminaries shaping the future of finance.

Sudden Wealth: Opportunities & Tax Realities

Becoming an instant millionaire may feel like a dream come true, but without careful planning, it can quickly become a tax nightmare.

Here's what you should know:

🌟 Opportunity Knocks: Sudden wealth offers life-changing potential—debt elimination, early retirement, and funding passions. Advanced tax strategies like trusts, Roth conversions, and donor-advised funds can help protect and grow your fortune.

⚠️ Tax Traps Ahead: Expect the IRS to take its share. Lottery winnings, business sale proceeds, and even inheritances can trigger hefty tax bills. Underestimating taxes or rushing into luxury purchases can drain wealth quicker than expected.

🛠️ Smart First Steps: Before splurging, assemble a team of professionals (CPA, estate attorney, tax advisor) to create a tax-optimized, sustainable plan. Long-term planning is essential for turning your windfall into enduring wealth.

Read The Full Article > 

IRS Fresh Start Program: What You Need to Know

The IRS Fresh Start program isn’t a single “magic solution” for tax debt—but it has made IRS relief programs more accessible.

Here’s how it works:

💳 Easier Payment Plans: The program doubled the debt threshold for “streamlined” installment agreements from $25,000 to $50,000, enabling more taxpayers to create multi-year payment plans—no lien filing required.

📉 Lower Offer In Compromise Amounts: For those settling debts for less than owed, lower future income multipliers (12-24 months, down from 48-60) drastically reduced minimum offer amounts, expanding eligibility for this settlement option.

🚫 Higher Tax Lien Thresholds: A federal tax lien can hurt borrowing potential. The program raised the lien filing threshold from $5,000 to $10,000 and introduced options to withdraw liens more easily for debts under $25,000, subject to specific conditions.

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Unlocking Wealth: Timing, Structure, & Section 1202

Section 1202 of the tax code is a game-changer for founders and investors, offering generous tax exclusions on Qualified Small Business Stock (QSBS).

Here’s how timing and structure can maximize your benefit:

📈 The Power of Conversion: Only C corporation stock qualifies as QSBS—LLCs, S corporations, and partnerships do not. Converting to a C corporation creates eligibility, but timing is critical: QSBS benefits start from the conversion date, not retroactively. Early action secures a longer runway to qualify for growth.

💼 Benefits of OBBBA Changes: The 2025 One Big Beautiful Bill Act increased the lifetime exclusion cap to $15M per person and introduced partial exclusions (50% after three years, 100% after five). Starting sooner enables earlier access to tax relief.

🚨 Timing Is Everything: Founders face a trade-off: short-term tax simplicity versus long-term exclusion benefits. Delaying conversion risks leaving significant growth outside QSBS’s eligible window. Acting early can mean millions in tax savings.

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Wrapping Up

If these articles sparked your interest, we have a network that you will absolutely love: Forbes Finance Council.

This exclusive, vetted community brings together the brightest minds in finance—founders, CEOs, CFOs, and other finance team leaders.

Put yourself at the forefront of innovation with access to publishing opportunities on Forbes.com, a personalized, SEO-friendly Executive Profile, and the chance to network with other respected leaders in the field.

Join Forbes Finance Council today, and become part of a group driving transformation in finance.