The IRS recently proposed a new fee schedule that would take effect at the beginning of 2017 for taxpayers who enter installment agreements. While the overall fee increases, direct debit and online options will reduce the total you pay.
Federal taxes are in large part paid through income withholdings by employers. The employer is trusted to withhold the right amount from employee wages and turn that sum over the IRS.
This month, Airbnb starts collecting taxes from hosts of short-term rentals in Los Angeles. Massachusetts will not follow this lead. Even after Airbnb lobbied for a recent tax proposal that would have extended hotel levies to short-term rentals.
This was not solely a Swiss account inheritance. But it does raise issues for anyone who inherits a financial portfolio that includes international bank or investment accounts.