Estate & Gift Tax

Calculator with 2020 Estate Tax Rates

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estate tax rates

Internal Revenue Code taxes estates and trusts as a person. So every year the government publishes income tax rates for estates or trusts separately. As you know, when an individual dies, his investments in various kinds of properties like stocks, bonds, or rental property, or other assets, that he/she owned at the time of his/her …

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Who Must File Estate Tax Return & When ?

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There are certain situation in which the estate tax return must be filed as per Internal Revenue Code.

2019 Tax Bracket for Estate & Trust

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The new tax rates for year 2019 announced .There is slight increase in the  Estate Tax Exclusion amount in this year. So a decedent dying between Jan. 1 and Dec. 31, 2019, may be subject to an estate tax, with an applicable lifetime estate duty exclusion amount of $11,400,000 (increased from $11,180,000 in 2018). The top marginal …

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Gift Tax Under Internal Revenue Code : 5 Most Important Points Everyone Should Know

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gift tax under internal revenue codeInternal Revenue Code provides various rules about the taxation of gifts  so when you are planning a  “gift” of money or property to someone-friend ,relatives or even unrelated person , you must know about ” who pays gift tax ?”. In other words, every time the amount or value of gift is above a threshold value , you owe a Gift Tax to federal government. Readers should note that 26 U.S. Code Chapter 12 – GIFT TAX deals with all aspects of gifts and its taxation under Internal Revenue Code. Here are  most important points which every tax payers under US tax laws must be aware of :

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