Tax Tips
Home and Family Taxes
Tax implications of non-charity memorial fund | Tax implications of non-charity memorial fund |
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A friend just passed away & an account was set-up at the local bank to assist with monetary contributions to the surviving family. Close friends & family are encouraging each other to forego this account due to tax worries... "She'll have to pay taxes on those gifts... I'll just give her cash" sort of thing. Read Entire Article |
While nobody likes filing tax returns, most people are rewarded handsomely for their efforts: About 75% of taxpayers get a refund, according to the Internal Revenue Service. In 2005, the average refund rang in at more than $2,000, a nice chunk of change.
| AP - More than 3 million people will have to wait until February to get their tax refunds because of Congress' late fix to the alternative minimum tax, the IRS said Thursday. | |
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