_irs-will-double-its-audit-rate-for-americas-wealthiest-taxpayers.jpg "IRS will double its audit rate for America’s wealthiest taxpayers from girl xxxn tax Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 1:54
👁 View: 1.2M times
✓ Published: 03-May-2024
👁 View: 1.2M times
✓ Published: 03-May-2024
Description:
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching the IRS’ decision to double its audit rate of America’s wealthiest.
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching the IRS’ decision to double its audit rate of America’s wealthiest.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
_texas-governor-abbott39s-anti-immigration-measures-spark-environmental-crisis-along-texas-mexico-border-39it39s-been-des.webp "The Rio Grande’s ecosystem, in particular, has been significantly impacted by the anti-immigration measures, reported The Guardian. The environmental damage is particularly evident in Eagle Pass, where the lush riverbanks have been replaced with roads for patrol vehicles, rusty shipping containers, and razor wire.")
_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.")
_mark-these-important-may-finance-dates-on-your-calendar.webp "Many people think of April as a major month for finances because it’s the time of the year that most Americans do their taxes – but experts say there are some pretty important dates in May that you need to mark down as well.")
_korea39s-5-richest-billionaires-2024.webp "Although South Korea’s benchmark Kospi index was one of the worst performers in Asia last year, it rebounded in 2024 fueled by investor frenzy over AI and the government’s $470 billion plan with the private sector to make the country a global chip production hub. The Kospi’s 11% rise, since we last measured fortunes 12 months ago, lifted the collective net worth of the country’s 50 richest to $115 billion from $106 billion.<br/><br/>This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, annual reports, analysts, government agencies and other sources. Net worths were based on stock prices and exchange rates as of the close of markets on April 2, 2024 and private companies were valued based on similar companies that are publicly traded. Real-time net worths on Forbes.com may reflect different valuations. The ranking lists both individual and family fortunes, including those shared among relatives and may differ from the World’s Billionaires List, which includes individual fortunes with net worths as of March 8. The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don’t reside in the country but have significant business or other ties to the country. The editors reserve the right to amend any information or remove any listees in light of new information.<br/><br/>Read the full story on Forbes: https://www.forbes.com/lists/korea-billionaires/?sh=745f04012222<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<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/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<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<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_what-is-backdoor-roth-ira-how-it-works-and-advantages.webp "A workaround for the Roth IRA income restrictions enables wealthier individuals to to earn tax-free income. But how long will that back door remain open?")
_lhdn-monitors-data-regularly-to-identify-non-taxpayers-says-ceo.webp "The Inland Revenue Board (LHDN) regularly monitors its data to identify companies and individuals who do not pay taxes.<br/><br/>LHDN chief executive officer Datuk Dr Abu Tariq Jamaluddin said the revenue-collecting agency has a legal right to take stern action, such as conducting searches on premises.<br/><br/>Read more at https://shorturl.at/bCG03<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline")
_ways-retirees-can-defuse-a-retirement-savings-tax-bomb.webp "There’s an easy and effective way savers can minimize the damage of a retirement tax bomb. It all starts with making one simple shift in your retirement savings contributions.")
_should-you-delay-your-social-security-and-use-your-401k.webp "Your 401(k) can be a bridge from retirement to a higher monthly income.")
_texas-governor-abbott39s-anti-immigration-measures-spark-environmental-crisis-along-texas-mexico-border-39it39s-been-des.jpg)
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.jpg)
_mark-these-important-may-finance-dates-on-your-calendar.jpg)
_korea39s-5-richest-billionaires-2024.jpg)
_what-is-backdoor-roth-ira-how-it-works-and-advantages.jpg)
_lhdn-monitors-data-regularly-to-identify-non-taxpayers-says-ceo.jpg)
_ways-retirees-can-defuse-a-retirement-savings-tax-bomb.jpg)
_should-you-delay-your-social-security-and-use-your-401k.jpg)
![[+]](/images/menu.gif){kind=small}