Even if you escape the federal estate tax, these states (plus D.C.) may hit you by John Waggoner Note: Some states levy estate taxes on a person’s assets when they die. A few states tax inheritances. Maryland does both. Most people don’t have to worry about the federal estate tax, which excludes up to $12.92Continue reading “17 States With Estate or Inheritance Taxes”
Category Archives: IRS
How long does an IRS audit take? What to know about IRS audit triggers, letters and more
Failing to respond to an IRS audit can trigger additional penalties and interest.
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IRS audit: What triggers it and what are red flags that increase the chance of being audited
by Elisabeth Buchwald As you work on your tax return, you may be wondering if there’s anything you can do to avoid being audited. When you’re audited by the Internal Revenue Service, it means your return was selected from a batch of returns for a closer inspection. Sometimes returns are selected at random for a closerContinue reading “IRS audit: What triggers it and what are red flags that increase the chance of being audited”
How to call the IRS and reach a real person
by Elisabeth Buchwald During the past couple of tax seasons, it was notoriously hard to reach an actual human at the Internal Revenue Service. Nearly everyone who tried to reach the agency over the phone ran into some sort of glitch in 2022, with only 13% of callers reaching an IRS employee, according to the National Taxpayer Advocate’s report to Congress. But thatContinue reading “How to call the IRS and reach a real person”
The way the IRS operates is about to undergo a major change. Here’s what that means for you
View of the Internal Revenue Service (IRS) building in Washington, DC, on January 24, 2023. STEFANI REYNOLDS, AFP via Getty Images
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