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.
Escheat(noun) the falling back or reversion of lands, by some casualty or accident, to the lord of the fee, in consequence of the extinction of the blood of the tenant, which may happen by his dying without heirs, and formerly might happen by corruption of blood, that is, by reason of a felony or attainder.