Filing status of a federal taxpayer has an immediate impact on the tax rate applied to taxable income. Consider a taxpayer, whose filing status is Single, with a taxable income of $50,000. Per the 2010 Tax Table, the tax liability would have been $8,675, for an average tax rate of 17.35 percent.
Escheat /áµ»sËtÊiËt/ is a common law doctrine that transfers the property of a person who died without heirs to the crown or state. It serves to ensure that property is not left in limbo without recognized ownership.
the reverting of property to the state or some agency of the state, or, as in England, to the lord of the fee or to the crown, when there is a failure of persons legally qualified to inherit or to claim. 2. the right to take property subject to escheat. verb (used without object)