irs 2020 1040sr printable Videos

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The deadline to file your taxes this year is Monday, April 15th, but the IRS is warning taxpayers of one other crucial deadline.The Federal Tax Collector said roughly 940,000 people in the U.S. have until May 17th to submit tax returns for unclaimed refunds for tax year 2020, which totals more than $1 billion nationwide.
⏲ 0:59 👁 2M
Katie St Ores CFP, ChFC, EA
⏲ 10 minutes 32 seconds 👁 52K
How To Taxes
⏲ 6 minutes 38 seconds 👁 4.3K
Sometimes, you just need more time. With the deadline to file a tax return with the IRS fast approaching, options are available for those feeling the pressure of time slipping away. Veuer’s Maria Mercedes Galuppo has the story.
⏲ 0:41 👁 3.9M
How To Taxes
⏲ 7 minutes 51 seconds 👁 3.5K
Jason D. Knott
⏲ 5 minutes 11 seconds 👁 2.3K
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.
⏲ 1:29 👁 3.4M
Katie St Ores CFP, ChFC, EA
⏲ 6 minutes 49 seconds 👁 25.9K
Tom Leeman
⏲ 1 minute 10 seconds 👁 1.4K
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.
⏲ 1:29 👁 75K
How To Taxes
⏲ 7 minutes 20 seconds 👁 6.1K
Tom Leeman
⏲ 1 minute 16 seconds 👁 57
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