Federal Inheritance Tax Laws 2010, 2011tax.network
inheritance tax. A general property tax formerly met requirements in the United States satisfactorily (see land tax); but as property increasingly assumed forms that escaped taxation, the burden on farms, once the usual form of property, became more than they could carry. A tax on luxuries is...
Noun1.gift tax- a tax imposed on transfers of property by gift during the lifetime of the giver revenue enhancement,tax,taxation- charge against a citizen's person or property or activity for the support of government Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton...
n. Federal tax on large gifts. Gifts to members of a family may be up to $10,000 a year to each plus a life-time $30,000 in gifts without tax. Several states also impose gift taxes. As with all tax questions, professional assistance in gift tax planning is vital. ...
A tutorial on the gift tax: what defines a gift and what transfers are subject to the gift tax, and how to calculate the gift tax.
Relating to the general government or union of the states; based upon, or created pursuant to, the laws of the Constitution of the United States.The United States has traditionally been named a federal government in most political and judicial writings. The term federal has not been prescribed ...
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or tax advice. The tax laws change frequently, and neither Tax Analysts Inc. nor the presenters, can guarantee that any information seen or heard is accurate. Also, due to changing tax laws, any information broadcast or downloaded after its original air date may no longer represent the curren...
Aninheritance taxis payable by the beneficiary who receives property from the estate. It's based on only the value of those inherited assets. It would apply if you inherit property, even if the estate were large enough to qualify for a federal estate tax. If you are the beneficiary, you ...
A widow(er)’s exemption refers to a reduction of tax burdens on a taxpayer following the death of a spouse. State laws vary but generally allow for a reduction in taxes for a surviving spouse for a certain period. This can help survivors and their dependents financially after a death that...