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No. An inheritance, regardless of amount, is tax free to the heir. It does not matter whether the person who died was a U.S. citizen or a foreign national....

The inheritance is fully tax free, regardless of amount. You do not have to report the inheritance on an income tax return or any other form....

While the fundamental rules are the same for estates of those who died in 2012 and those who die this year, some of the important numbers are different. For example, the exemption amount (the value of...

Cost-of-living adjustments, or COLAs, apply to nearly four dozen tax rules, and the IRS has announced these adjustments for 2014. With inflation running low, the adjustments are modest. They impact su...

There are two personal tax-advantaged ways to save for retirement: an IRA, which may be deductible or nondeductible (“traditional IRA”), and a Roth IRA, which is made with after-tax dollars. These...

Income from whatever source derived is included in gross income unless there is a specific law treating the income as wholly or partially tax free. This means that the winnings awarded by the U.S. Oly...

No. The value of employer-paid health insurance for an employee, spouse, and dependent is a tax-free fringe benefit. However, under the Affordable Care Act, employers (other than small employers curre...

If you turned age 701/2 in 2013 and did not take any required minimum distribution (RMD) from your IRA and/or qualified retirement plan, you must do so no later than April 1, 2014, in order to avoid a...

No. This lump-sum death payment is tax free....

That may be the conclusion you reach when you see the tax breaks limited to those of a certain age: Medical and dental expenses. While most taxpayers can itemize these costs only if the total excee...