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The deadline to file your taxes this year is Monday, April 15th, but the IRS is warning taxpayers of one other crucial deadline.The Federal Tax Collector said roughly 940,000 people in the U.S. have until May 17th to submit tax returns for unclaimed refunds for tax year 2020, which totals more than $1 billion nationwide.
Over 1 Billion in Unclaimed Taxes in 2020
⏲ 0:59 👁 2M
Katie St Ores CFP, ChFC, EA
1040sr for Seniors.Step by Step Walkthrough of Senior Tax Return 1040SR. New IRS Form 1040-SR
⏲ 10 minutes 32 seconds 👁 52K
How To Taxes
How to prepare 2020 Form 1040 SR Income Tax Return
⏲ 6 minutes 38 seconds 👁 4.3K
Sometimes, you just need more time. With the deadline to file a tax return with the IRS fast approaching, options are available for those feeling the pressure of time slipping away. Veuer’s Maria Mercedes Galuppo has the story.
Tax Time Crunch: Navigating IRS Extensions for Last-Minute Filers
⏲ 0:41 👁 3.9M
How To Taxes
How to prepare your 2023 Form 1040SR tax return with Social Security income
⏲ 7 minutes 51 seconds 👁 3.5K
Jason D. Knott
IRS Form 1040-SR vs Form 1040...What's the Difference?
⏲ 5 minutes 11 seconds 👁 2.3K
The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed
⏲ 1:29 👁 3.4M
Katie St Ores CFP, ChFC, EA
1040SR, what's new - Seniors 1040 - Tax Form 1040-SR Explained, 2022 is similar 2021
⏲ 6 minutes 49 seconds 👁 25.9K
Tom Leeman
Seniors Standard deduction for 2020 1040 SR Form
⏲ 1 minute 10 seconds 👁 1.4K
The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed
⏲ 1:29 👁 75K
How To Taxes
How to prepare your 2022 Form 1040SR tax return with social security income
⏲ 7 minutes 20 seconds 👁 6.1K
Tom Leeman
How to find 1040 SR and Standard Deduction for 2023
⏲ 1 minute 16 seconds 👁 57
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