What are the tax problems associated with payments received by a wife from her deceased husband's employer? (Assume the wife renders no services to the employer.)
An amount paid in respect of compensation owed to the employee at the time of his death is taxable to the spouse, just as the amount would have been taxable to the decedent if he had received the money prior to death. Additional noninvested amounts paid by the employer probably should be totally excluded from the spouse's income as a gift. However, the IRS generally considers such payments to be compensation for past services rather than gifts.
Payments received from the employer's qualified pension or profit sharing plan are subject to taxation. Also, if the employee contributed to the pension and profit sharing plan, the beneficiary is allowed to treat this amount as a nontaxable recovery of capital.
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Which of the following is true of financial services provided by persons working in banks, insurance companies, and brokerage firms?
A. Persons working in banks, insurance companies, and brokerage firms help investors achieve the highest earnings per share. B. Persons working in banks, insurance companies, and brokerage firms help individuals and companies determine how to invest money to achieve their financial goals. C. Persons working in banks, insurance companies, and brokerage firms help corporations fulfill the regulations required by the Sarbanes-Oxley Act. D. Persons working in banks, insurance companies, and brokerage firms help public corporations follow environment-friendly practices. E. Persons working in banks, insurance companies, and brokerage firms help corporations in framing their bylaws.
Violations of OSHA regulations are civil, there are no criminal penalties
a. True b. False Indicate whether the statement is true or false
In computer networks, the data transmission rate is also referred to as the bandwidth and is measured in ____ per second.
A. packets B. bits C. pixels D. data
If the S&P 500 Index futures contract is overpriced relative to the spot S&P 500 Index, you should __________.
A. buy all the stocks in the S&P 500 and write put options on the S&P 500 Index B. sell all the stocks in the S&P 500 and buy call options on S&P 500 Index C. sell S&P 500 Index futures and buy all the stocks in the S&P 500 D. sell short all the stocks in the S&P 500 and buy S&P 500 Index futures