IRS Charges Fee for Estate Closing Letters

IRS Charges Fee for Estate Closing Letters

IRS Charges Fee for Estate Closing Letters Starting October 28, a new $67 user fee will apply to any estate that requests an estate tax closing letter for its federal estate tax return. This closing letter is formally referred to as IRS Letter 627. Background By law,...
Marginal vs. Effective Tax Rates

Marginal vs. Effective Tax Rates

Marginal vs. Effective Tax Rates Understanding marginal and effective tax rates are important for tax planning purposes; however, many taxpayers don’t fully understand the differences. Let’s take a closer look: Marginal Tax Rate The United States has a...