Articles Posted in Probate & Estate Litigation

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During one of the state of Illinois’ largest ever tax increases; the new public act appears to contain a nice loophole for the wealthy deceased, said a New York Estate Planning lawyer.

Earlier this year the Governor of Illinois signed into law the Public Act 096-1496, the Taxpayer Accountability and Budget Stabilization Act.

Aside from increasing state income taxes on individuals and corporations, [it] reinstated the Illinois estate tax effective January 1, 2011, with a $2,000,000 exemption.

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Senators recently detailed more of their plans to reform the tax system at the Heritage Foundation. Some of the things that they mentioned were liked, while others were not appreciated. The New York Estate Lawyer mentioned that the recent set of reforms will form a basis for many future reforms.

Conservatives aren’t however completely convinced that the new bill is a good idea. There have been many questions from the audience noted the New York Probate Lawyer. Many of the questions concentrated on the anti-estate tax movement. Many Conservatives are against the changes related to tax on probate cases.

Nobody likes paying taxes; it’s just something that everyone will have to put up with. For the reforms to succeed they will need to have bipartisan support. This is a bipartisan bill which should greatly improve the chances of creating something that people will appreciate.

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With the tax season upon Americans, it is time to figure out your gross income and taxable income and home you do not have to pay the IRS any taxes. Let your iPhone help you as you work through your w-2s. There are several iPhone apps that can make the process easier, a New York Estate Lawyer said.

Try the app created by the IRS they. The IRS2GO is where you can review your tax refund. You can also look up tax tips if you have any questions about filing or procedures. Filing taxes does not always have to be tricky, commented a New York Probate Lawyer. The app is free to use.

H&R Block also has an iPhone app that will help you through the entire tax process. Tax Central was available last year but has recently been updated to help you with all of your questions. The Tax Central app is the place to go if you have any tax questions. You can also check your tax liability, a New York Estate Planning Lawyer mentioned. The H&R Block app is free to download.

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