No Inheritance Tax for Charles III

It’s good to be King. One of many reasons— not having to pay any inheritance taxes. For example, King Charles III inherited a royal-sized inheritance, as if becoming the King of the United Kingdom wasn’t enough, and it’s primarily tax-free. Charles takes the title of Duke of Lancaster and the corresponding duchy, valued at $750 […]

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IRS Waiving Late Filing Penalties

The IRS announced yesterday its waiving $1.2 billion in late-filing penalties for income tax returns, letting about 1.6 million taxpayers off the hook. What is behind this decision from an agency not known for forgiveness? From our perspective, the reason is less about caring for taxpayers and more about an organizational disaster. The IRS has […]

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