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Inheritance tax is charged to everyone whether they are rich or poor. It is just another way for the government to collect tax, it is not created to penalize the rich in particular.
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Do inheritance taxes prevent the rich from controlling too much money?
hmm...didn't stop me :D
Do you have to pay inherit taxes on money willed to you in NC?
If you inherit money willed to you in the state of North Carolina, you must pay taxes on the money. Inheritance taxes are more than regular employee taxes.
What do you pay if you have an inheritance that arrive from a different country?
I will get money from inheritance already taxed in Germany. Do I have to pay taxes in California too ?
Do you have to claim inheritance money on taxes?
Inheritances are not taxed by the federal income tax.
Do you have to claim inheritance money on federal taxes?
Inheritances are not taxed by the federal income tax.
Why do governments have an inheritent tax?
Inheritance taxes, as with other taxes such as income and sales tax, is a way for the government to get revenues that can be used for various expenses that are incurred by the government for the benefit of its citizens.
Why do we have to an inheritance tax when the previous owners paid taxes on them when they purchased them?
Inheritance taxes and property taxes are entirely separate issues. Regardless of whether or not we agree with taxes you still have to abide by them. I personally don't agree with the scope of inheritance taxes, however the government considers an inheritance taxable income.
Are there taxes on foreign cash inheritance in American dollars?
It depends on where you exchange your money at, but most of the time yes.
Does a US Citizen have to pay taxes on inheritance money from outside the country?
Jack Carey Loves bugs
What are the advantages and disadvantages of inheritance tax?
An advantage of the inheritance tax is that it raises money for the government. A disadvantage is that people that inherit property may not have the means to pay the taxes on the items.
You are receiving some inheritance money from your mother who lived in New Zealand Do you have to pay taxes on it here in Texas?
You would not pay U.S. income tax on the inheritance, but generally do need to report the inheritance to the IRS on Form 3520.
Do you pay taxes on a trust inheritance?
Depending on where someone lives depends on the need to pay taxes on any inheritance they get from a living trust. The beneficiary of an estate from inheritance will need to pay taxes to take possession of assets.
