But doesn't the IRS count an inheritance as Wages, Tips, & Other Considerations, AKA "income?" So there's no specific federal Inheritance Tax, but they still hit you with a big bite for income, even though the person leaving it to you already paid taxes on it.
But doesn't the IRS count an inheritance as Wages, Tips, & Other Considerations, AKA "income?" So there's no specific federal Inheritance Tax, but they still hit you with a big bite for income, even though the person leaving it to you already paid taxes on it.
...but they still hit you with a big bite for income, even though the person leaving it to you already paid taxes on it.
Yes. You are entirely correct. The Federal taxation powers are an insane overreach from what was originally intended.
>...but they still hit you with a big bite for income, even though the person leaving it to you already paid taxes on it.
Yes. You are entirely correct. The Federal taxation powers are an insane overreach from what was originally intended.
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