Families are often able to build up a substantial net worth through owning property, like a farm, or a small business.

Other contribution and tax considerations for 529 plans. The 529 plan has become a popular way to save for college expenses — ...

For federal estate and gift tax purposes, transfers are valued at the “fair market value” of the asset on the date of transfer. One of the more ...

the IRS’s “gift tax” stipulates that each taxpayer can give only $19,000 per year to any individual, including their kids. Any more than that and a parent must file Form 709, which alerts ...

On the most basic level, artists who may not earn much or any of their income from the sale of their artistic output need to prove to the IRS that they are professionals and not just dilettantes.

Savers may also exceed the IRS gift tax exclusion, creating tax implications ... beneficiary per year before you need to file IRS Form 709. Since each donor can contribute up to $19,000 per ...

This means you may have to report your new fortune on your annual tax return ... in the form of a lottery winning, a bonus at work, an inheritance, a legal settlement, or a gift. The IRS must ...

There are three status updates which the taxpayer might see: “received return,” “refund approved,” or “refund sent.” If the ...

the IRS has already been busy processing tax returns and issuing tax refunds. Not mine — I'm still a ways away from sitting down with my W-2 forms and the 1040 instructions and a calculator ...

The VITA program, which the IRS administers, began after the Tax Reform Act of 1969 and provides free tax filing assistance ...

IRS tax refund may arrive sooner than you think. Here’s a schedule for when you can expect your check or direct deposit.

Many might be asking that question because their tax return has yet to be processed. On Friday, the Internal Revenue Service reported that the agency has processed 15.8% fewer individual income ...