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Form 1310 for Palm Beach Florida: What You Should Know
IRS: A list of 10 items Congress has targeted in budget cuts — IRS Apr 1, 2023 — The House has passed a bill that would cut the IRS budget by 900 million, cutting off the agency's ability to issue millions of tax refunds. While the Senate is debating its version of the bill, the House is also considering a proposal to repeal the Affordable Care Act's individual mandate and to cut the agency's budget by more than 1 trillion over 10 years. The government's debt ceiling, which the government says it will not go over, has put lawmakers on a collision course again, this time over what's being labeled as the “fiscal cliff.” So Congress needs to make sure taxpayers' refunds count for as much as possible. Coupled with the potential for major reductions in federal spending, the refund program is a key priority for advocates of the government's entitlement programs. How to Use a Refund Claim Form — IRS Couple's 400,000 inheritance is taxed — IRS Apr 1, 2023 — The state of Michigan will be requiring the owners of a couple's 400,000 inheritance to pay 2,500 in estate taxes. Under federal law a taxpayer does not owe federal income tax on an estate worth up to 5.49 million. But if the estate includes any property worth more than 5.49 million, it must pay what's known as the federal estate tax. A New Jersey couple, who inherited the couple's home from their parents, recently found they were the owners of a 400,000 estate taxed at 50% — a tax of 1.7 million, according to tax expert Bruce R. Raided, president and CEO of B. Raided Tax Law & Legal Services. Forbes has the facts on tax law, and tax experts who can explain any taxes that would apply, including the federal estate tax. Tax return preparers to take 'a lot of heat' — NY Times Apr 1, 2023 — With President Obama poised to sign several bills into law over the next few weeks, a number of large national tax professional organizations are urging their members to prepare and issue their own “tax filing statements” by Aug. 1, 2014, for those who plan to file next spring.
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