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In 2013, the inheritance tax was increased from 35 to 40 percent by the American Taxpayer Relief Act of 2012, states Money-Zine. This amount is affected by inflation and rises accordingly, explains Money-Zine. More »

www.reference.com Business & Finance Taxes Income Tax

As of 2015, the federal inheritance, or estate, tax rate is 40 percent, according to Bankrate. The first $5.43 million of an estate is exempt and not taxed by the IRS. More »

www.reference.com Business & Finance Taxes

Inheritance tax is levied by state governments, according to TurboTax. Inheritance tax is different from estate tax, which is levied by the federal government. As of 2015, only New Jersey, Maryland, Nebraska, Iowa, Kentu... More »

www.reference.com Business & Finance Taxes
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The federal gift tax rate is 40 percent as of tax year 2014, according to TurboTax. However, taxpayers can give up to $14,000 per recipient per year without triggering the gift tax. The recipient is not responsible for i... More »

www.reference.com Business & Finance Taxes Income Tax

An inheritance tax waiver is form that may be required when a deceased person's shares will be transferred to another person. Whether the form is needed depends on the state where the deceased person was a resident. More »

www.reference.com Business & Finance Taxes Income Tax

As of 2015, the federal inheritance, or estate, tax rate is 40 percent, according to Bankrate. The first $5.43 million of an estate is exempt and not taxed by the IRS. More »

www.reference.com Business & Finance Taxes

As of 2012, an inheritance is not considered income unless the amount received is greater than $5 million. The IRS states that inheritances do not have to be claimed as income, and there is no estate tax for the recipien... More »

www.reference.com Business & Finance Taxes Income Tax