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IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed
⏲ 1:29 👁 21.3M
US Tax Rates for 2021 - Form 1040 Tax Rate Tables
⏲ 4 minutes 52 seconds 👁 2.2K
IRS raises income threshold and standard deduction for all tax brackets
⏲ 2 minutes 10 seconds 👁 22.3K
IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed
⏲ 1:29 👁 1.3M
2021 IRS Form 1040 Walkthrough | Single No Dependents
⏲ 12 minutes 51 seconds 👁 30.2K
How to estimate your personal income taxes
⏲ 4 minutes 48 seconds 👁 56.3K
IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed
⏲ 1:29 👁 2.7M
2021 IRS Economic Impact Payments on Your Tax Account
⏲ 2 minutes 2 seconds 👁 120.8K
New 2021 Tax Brackets You Need To Know About (Complete Overview)
⏲ 6 minutes 1 second 👁 2.6K
How to Stop Procrastinating and Take Control of Your Taxes Today
⏲ 2:52 👁 535K
IRS Statute of Limitations on Collections: What you need to know
⏲ 6 minutes 5 seconds 👁 3.4K
2024 IRS TAX REFUND UPDAT3 - New Refunds Released, Transcript Updates, IRS Notices, 570, 971 Codes
⏲ 5 minutes 35 seconds 👁 1.1K
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_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.")
_us-tax-rates-for-2021-form-1040-tax-rate-tables.webp "Jason D. Knott")
_irs-raises-income-threshold-and-standard-deduction-for-all-tax-brackets.webp "CNBC Television")
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.")
_2021-irs-form-1040-walkthrough-124-single-no-dependents.webp "A Penny Pinchers Guide to Personal Finance")
_how-to-estimate-your-personal-income-taxes.webp "Travis Sickle")
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.")
_2021-irs-economic-impact-payments-on-your-tax-account.webp "IRSvideos")
_new-2021-tax-brackets-you-need-to-know-about-complete-overview.webp "LYFE Accounting")
_how-to-stop-procrastinating-and-take-control-of-your-taxes-today.webp "If you're one of the many tax filers out there delaying filing because it's just too overwhelming for you...you're not alone. We caught up with CPA and tax expert with TurboTax Lisa Greene-Lewis for some incentive to help get you out of the procrastination station. For starters, she says get organized by getting all your documents together in one place so you don't leave anything out. Gather documents that report your income and especially don't forget receipts and forms for deductible items like charitable contributions and home mortgage interest. E-file with direct deposit, it's the fastest way to get your tax refund from the IRS and the average tax refund was over $3,000 last year. The IRS will issue most tax refunds within 21 days or less of acceptance with e-file and direct deposit. Be aware of some of the most missed deductions and credits such as the Earned Income Tax Credit (EITC), worth up to $7,430 for families with three kids who qualify. The IRS states one out of five qualifying families miss the credit. Then there's the Other Dependents Credit (ODC) if you have been supporting a boyfriend or girlfriend. Lastly, deductions for student loan interest, since the pause on student loans was lifted last year. If you are delaying filing because you are eligible for the Child Tax Credit and you are hearing about changes, don't delay filing. The IRS commissioner has stated that if the child tax credit is expanded later this year, the IRS will adjust impacted returns, issue any additional credits, and you won't need to do anything extra so there's no need to delay. Greene-Lewis says you can now also enlist the help of a real-life TurboTax expert and it can be more beneficial than you even realize. TurboTax full-service experts can prepare your taxes from start to finish and they won't sign and file your taxes until your return is 100% accurate and you are getting the best possible outcome. TurboTax walks you through all of your deductions and credits you're eligible for, but to help you easily get your taxes done and off your plate, you can get matched with a tax expert who specializes in your unique type of tax situation and can do your taxes from start to finish. If you need even more of an incentive, you can get $100 back instantly at filing when an Intuit TurboTax expert does your taxes with TurboTax full service. To be eligible for this offer, you must file using full service by March 31. For more info head to turbotax.com . Full Service $100 back offer Credit applies only to federal filing fees for TurboTax full service and not returns filed using other TurboTax products or returns filed with Intuit TurboTax Verified Pro. Also excludes TurboTax live full service business. Credit does not apply to State tax filing fees or other additional services. If federal filing fees are less than $100, the remaining credit will be provided via electronic gift card. Intuit reserves the right to modify or terminate this offer at any time for any reason in its sole discretion. Must file by March 31, 2024 at 11:59 pm et.")
_irs-statute-of-limitations-on-collections-what-you-need-to-know.webp "Bye-Bye Back Taxes!")
_2024-irs-tax-refund-updat3-new-refunds-released-transcript-updates-irs-notices-570-971-codes.webp "UI Vlogs 2021")
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