Under U.S-U.K Tax Treaty Transfer of Domestic Pension Scheme Resulted in Taxable Lump-Sum Transfer.The article discusses the U.S. Internal Revenue Service's (IRS) issuance of Chief Counsel Advice (CCA) 201231010 which deals with a tax treaty between Great Britain and America, as well as ...
Some taxpayers choose to take a standard deduction, which is a lump sum, instead of claiming itemized deductions. The IRS hasmore informationabout which option may be right for your financial situation. Once you’ve tallied your tax deductions, you subtract the total dollar amount for deductions...