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www.reference.com/article/gets-tax-money-inheritance-67d0693fdc6e438f

Federal inheritance tax is collected by the Internal Revenue Service and deposited with the U.S. Treasury, according to the IRS. In addition to federal taxes, seven states imposed inheritance taxes in 2015, which pay into their respective treasuries. The laws governing such taxes vary by jurisdictio

www.reference.com/article/claim-inherited-money-b731dfd384d26be5

To claim an inheritance, contact the executor of the will or the judge in charge of the case. They make sure that you receive your money and any other paperwork you need, such as a deed or title if you are inheriting property.

www.reference.com/article/inheritance-money-taxable-f9f2b2127e85d52c

TurboTax reports that as of tax year 2013, only eight states require beneficiaries to pay an inheritance tax: Iowa, Pennsylvania, Kentucky, Nebraska, Maryland, Indiana, Tennessee and New Jersey. For tax purposes, unless the inheritance, such as property or stocks, generates an income, the inheritanc

www.reference.com/business-finance/inherited-money-trust-taxable-cf464db321bc40ab

Inherited money from a trust may or may not be subject to income tax, depending on the source of the funds. Property or money held by the decedent at the time of death is an inheritance and would not be subject to income tax, according to IRS Publication 559.

www.reference.com/article/tax-laws-gifted-money-8079d380f93a6059

Money given as a gift is subject to federal gift tax unless the gift qualifies as an exception, reports the IRS. Only Connecticut and Minnesota impose state gift taxes, and the exemptions are $2 million and $1 million respectively as of 2015, according to Nolo.

www.reference.com/article/much-money-raised-annually-through-federal-income-tax-2ac0a92058256e8b

The federal income tax raises about $1.4 trillion each year, as of 2014. This number doesn't include taxes that individuals and businesses pay for Medicare and Social Security. Those payroll taxes raise another $1 trillion, according to Bloomberg Business.

www.reference.com/article/federal-income-tax-deductions-can-save-lot-money-b44d590ad3a22621

Some of the biggest federal income tax deductions include sales tax, health insurance premiums and charitable gifts, states TurboTax. Some other big federal income tax deductions are the use of a home office, Internet and phone services, and travel expenses, states Investopedia.

www.reference.com/article/category-federal-spending-receives-money-7e8c4a5920de0a4e

The largest part of the federal budget goes to Social Security, unemployment compensation and labor. This is regarded as mandatory spending and includes numerous employment and job training programs. It represents about 50 percent of the annual budget.

www.reference.com/article/common-federal-grant-money-scams-3ff41df270cf60e2

Common scams involving federal grant money include being told that people need to pay a fee to get the grant, being told the grant is issued due to being a good taxpayer, asking for bank account information to send the money and any kind of grant being awarded without having filed for a grant. These

www.reference.com/article/money-online-bank-account-federally-insured-2d5547b5d8e5ea60

The Federal Deposit Insurance Corporation (FDIC) insures all deposits made to checking accounts, savings accounts, money market accounts and certificates of deposit, including online accounts, according to the FDIC. The FDIC does not insure special services a bank may offer such as stocks, bonds and