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Shalae Morgan
Shalae Morgan
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_why-you-may-not-have-received-your-stimulus-money-yet.webp "TranscriptnnThis week roughly 80 million people received their stimulus payments.nnIf you have not, that doesn't mean you won't get the money but there could be a few reasons for the delay.nnOne: you didn't get a federal tax return in 2018 or 2019.nnTwo: your refund went to an old bank account.nnIf so, the money was sent back to the IRS and will likely come later by check.nnThree: your refund went to a temporary account set up by your tax preparer like TurboTax or H&R Block.nnFour: you filed")
_no-the-irs-isnt-sending-a-fourth-stimulus-check.webp "WCNC")
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "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.")
_missing-a-stimulus-check-from-the-irs.webp "WCNC")
_irs-tax-refund-update-delays-and-smaller-refunds.webp "ClearValue Tax")
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "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.")
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