0
If you owe taxes and receive money from an inheritance can the government take it?
Wiki User
∙ 14y ago
Yes, of course. So could any creditor. Where your money/asset comes from makes no difference. You essentially spent or committed it to the one you owe when you incurred the debt and made the promise/obligation to pay.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Why does the state government receive all of their money from the federal government?
The state governments do not receive all their money from the Federal government. The majority of their funds come from state income taxes, property taxes and sales taxes.
How does the government receive funds?
The Government gets their money from all of us paying our taxes, such as carbon taxes.
How did central government receive money?
other states
What are the advantages and disadvantages of inheritance tax?
An advantage of the inheritance tax is that it raises money for the government. A disadvantage is that people that inherit property may not have the means to pay the taxes on the items.
Why do we have to an inheritance tax when the previous owners paid taxes on them when they purchased them?
Inheritance taxes and property taxes are entirely separate issues. Regardless of whether or not we agree with taxes you still have to abide by them. I personally don't agree with the scope of inheritance taxes, however the government considers an inheritance taxable income.
Do you have to pay inherit taxes on money willed to you in NC?
If you inherit money willed to you in the state of North Carolina, you must pay taxes on the money. Inheritance taxes are more than regular employee taxes.
What is an income tax refund?
An income tax refund is money that you receive back from the government from all the withheld taxes that were on your employment income. You usually receive this money through your bank or in the mail.
Why do governments have an inheritent tax?
Inheritance taxes, as with other taxes such as income and sales tax, is a way for the government to get revenues that can be used for various expenses that are incurred by the government for the benefit of its citizens.
Does Inheritance taxes prevent the rich from controlling too much money?
Inheritance tax is charged to everyone whether they are rich or poor. It is just another way for the government to collect tax, it is not created to penalize the rich in particular.
What do you pay if you have an inheritance that arrive from a different country?
I will get money from inheritance already taxed in Germany. Do I have to pay taxes in California too ?
Do you have to claim inheritance money on taxes?
Inheritances are not taxed by the federal income tax.
Can the government just take a property from you if you have been willed the property it and it can not be sold?
Because of taxes, yes....unless you have money to pay the taxes on it (one of them is the inheritance tax)That's in the United States, not sure about other places
