IRS Adds New Reporting Code for Charitable IRA Gifts

Learn about the IRS’s new Code Y for reporting Qualified Charitable Distributions (QCDs) from IRAs, effective in 2025.
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IRS shields million dollar inheritances from taxes with key caveats

The IRS offers a significant opportunity for individuals to pass on substantial wealth without incurring federal estate taxes, thanks to a generous exemption threshold. In 2024, estates valued up to ...