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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

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Chad Tax Preparation Services, LLC

Creating an EFTPS.gov Account (2019) - great for paying quarterly taxes for VIPKID, GOGOKID, Naativ

⏲ 4 minutes 45 seconds 👁 541

Fundera by NerdWallet

How to Fill out IRS Form 941: Simple Step-by-Step Instructions

⏲ 15 minutes 15 seconds 👁 79.4K

During a House Appropriations Committee hearing on Tuesday, Rep. Michael Cloud (R-TX) questioned Internal Revenue Service Commissioner Danny Werfel about teleworking policies.<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com

‘It Depends On The Situation’: Michael Cloud & IRS Commissioner Werfel Discuss Telework Policies

⏲ 6:1 👁 530K

FinePoints

Quarterly Taxes: for beginners (how much to pay, when to pay, how to pay quarterlies)

⏲ 12 minutes 34 seconds 👁 41.7K

Business Finance Coach

How To E-file Form 941 (Online, Late, Payments, S-corp) -- EMPLOYER PAYROLL BASICS!

⏲ 12 minutes 55 seconds 👁 18K

#walmart #earnings #consumer<br/>#walmart #earnings #consumer #yahoofinance <br/><br/>Walmart (WMT) posted its first-quarter earnings report revealing revenue that beat expectations and showed a growth in its e-commerce arm. Comparable sales and transactions rose 3.8% in the US, while the average ticket price was flat. Walmart CFO John David Rainey joined Yahoo Finance to give insight into the state of the consumer from Walmart's perspective, claiming consumers' wallets are \

What Walmart's Q1 earnings are revealing about US consumers

⏲ 3:44 👁 5K

Accounting Instruction, Help, u0026 How To

IRS reminder: File and pay 2019 business taxes by July 15; 2020 estimated tax also due

⏲ 6 minutes 1 second 👁 83

Kevin Knauss

2019 IRS Health Insurance Premium Tax Credit Reconciliation

⏲ 8 minutes 21 seconds 👁 6.4K

Countless

How to Pay Your Estimated Taxes Online with the IRS (Quarterly Taxes)

⏲ 2 minutes 5 seconds 👁 1.4K

Michael V Garcia

2019 IRS Tax Payment

⏲ 2 minutes 43 seconds 👁 27

Sunlight Tax

How to Make Your Estimated Quarterly Tax Payment on the IRS Website - A step-by-step walkthrough

⏲ 8 minutes 34 seconds 👁 367

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