Tags » Death Tax
When a person dies in the US, all of their wealth exceeding $5.49 million is taxed. The Republicans want to change this.
As part of their effort to overhaul US taxes, the House Republicans’ plan repeals the estate tax entirely six years from now; in the meantime, it doubles the amount of wealth exempted, to $11 million. 624 more words
That’s because the government subjects long-term foreign residents to inheritance tax of up to 55 percent on their worldwide assets — meaning heirs could be forced to give up their family homes or businesses even if they’ve never set foot in Japan. 330 more words