3 Reasons to Seriously Consider Using a Living Trust to Pass an Inheritance to Your Family
You always want to ensure your trust is aligned with your current situation and wishes. A simple amendment might do the trick ...
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Do I have to pay taxes on my inheritance?
In most cases, Americans will not have to pay taxes on their inheritance. However, Pennsylvania, New Jersey, Nebraska, ...
Liz Weston: Youngest brother was left out of aunt’s will. How much can we share with him without tax penalty?
My brother and I want to do the right thing for our younger brother and give him an equal share from our inheritance. I know most states don’t have inheritance taxes, but since he won’t technically be ...
Taxpayers With Missed IRS Form 3520 Filings Face Tough Decisions
If a taxpayer misses the filing deadline, the IRS may impose significant penalties (up to 25% of the amount of the foreign gift or inheritance received).
'Inheritance tax rule change is ludicrous'
A farmer has described the government's changes to inheritance tax rules as "absolutely ludicrous", warning he may have to ...
JD Supra13d
Maryland’s 2025 Budget Proposal: Changes to Estate Taxes and What They Mean for Estate Planning
Recent Maryland proposed budget cause for close estate planning review before the sunset of the federal Tax Cuts and Jobs Act ...
Investopedia14d
What to Do with a Large Inheritance
Unless the inheritance is very large, you won't owe tax on money you inherit. However, other inherited assets—such as securities, retirement accounts, or real estate—can have tax implications.
Fox Business18d
Sen. Cruz reintroduces bill to exempt tips from federal income taxes
One of President-elect Trump's most popular election promises was to eliminate taxes on tips for working Americans. Now, Congress is helping him deliver on that promise, FOX Business has learned.
The Daily Telegraph19d
Grieving families face penalties on inheritance tax bills
Thousands of grieving families face being charged near-record late payment interest fees on their inheritance tax bills because of probate delays. The number of probate cases taking over a year ...
The New York Times19d
Trump’s Treasury Pick Defends Plans to Cut Taxes and Raise Tariffs
Andrew Duehren covers tax policy. Scott Bessent, President-elect Donald J. Trump’s Treasury secretary pick, defended tax cuts and tariff increases on Thursday, rebutting accusations from ...
Newsweek19d
When Are Taxes Due? Key Filing and Extension Deadlines
The Internal Revenue Service (IRS) has announced that the 2025 tax filing season will start on January 27, with the deadline for filing federal tax returns set for April 15, 2025. It expects more ...
ITV19d
'We're running out of options' - Northumberland farmers protest against inheritance tax changes
Farmers in Northumberland have staged a demonstration against controversial plans for an agricultural inheritance tax. A tractor rally made its way through Morpeth towards County Hall, where ...