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TranscriptnnAre you eagerly awaiting your stimulus check?nnThere's a way to track when it will hit your bank account. nnThe Internal Revenue Service (IRS) created an online tool called
⏲ 96 sec ✓ 17-Apr-2020
ClearValue Tax
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IRSvideos
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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.
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Λsk Λbout Ideas
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ABC 7 Chicago
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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.
⏲ 1:29 👁 1.8M
LYFE Accounting
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Denver7
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I want to tell you how to get your stimulus checks faster. As you know, the government has said that they want to get money in the pockets of Americans. How can you be insured to get your cash quicker rather than later? Number one, you need to make sure you have a current tax return and with IRS. nnThe reason why you want to have a current tax return is you want them to have your latest address and your latest banking information. The IRS can auto-deposit your money into your bank account. You w
⏲ 1 min 1 sec ✓ 10-Apr-2020
IRSvideos
⏲ 2 minutes 2 seconds 👁 127.9K
Money Matters
⏲ 10 minutes 17 seconds 👁 2.1K
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