Whitney Houston IRS Estate Tax Deal
Settlement Reached with IRS The estate of the late award-winning singer and actress Whitney Houston has reportedly reached a deal with the Internal Revenue Service (IRS) to pay $2,275,366 in taxes far less than the $11.7 million the IRS originally claimed was owed. Dispute Over Valuation Houston’s estate and the IRS have been battling over […]
State Tax Deduction For Private School Tuition
Overview Parents in many states can now get a state tax deduction for private school tuition, thanks to the federal tax overhaul passed last month. A lesser-known part of the new law lets families use state-sponsored 529 college savings plans to pay for expenses such as tuition, books, and tutoring for kindergarten through high school. […]