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.
Definition of escheat. 1 : escheated property. 2a : the reversion of lands in English feudal law to the lord of the fee when there are no heirs capable of inheriting under the original grantb : the reversion of property to the crown in England or to the state in the U.S. when there are no legal heirs.