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California online Form 5471 (Schedule J): What You Should Know
Filed by: July 15, 2025 3:00 pm Demystifying the 2025 California Income Tax Return, Chapter 11 β IRS The 2025 California return is due by October 15, 2025 (or later if a extension has been requested). Tax-Cal.CFI. Form.5471β_Form5472β_E&P.pdfβ ββThis online-only version of the Guide to a California Income Tax Return contains the most recently released version of the guidance on the state's income taxes for taxpayers with California income tax returns. It is not a full description of the law, but it describes the basic features of the current tax law. For a more comprehensive summary, you should read the text of the Code and the current version of the Income Tax Bulletin (formerly the Income Tax Code Bulletin). You'll also find the guidance on various issues, such as the new state and local income tax rates, the adoption of the alternative minimum tax, filing a state income tax return, and more. βIf you have questions or comments about the 2025 version of this guide, send us copies of the relevant documents, and we will add those to the guide. β About Forms 5471 and 5472 β IRS Form 5471 and Form 5472 β IRS Reforming the Estate Tax β Tax Planning in Light of the Death Tax Reforming the Estate Tax β The Death Tax The estate tax is a federal tax imposed on a deceased person's property inherited from a spouse or surviving family members. The estate tax is imposed on both the deceased individual and, in some cases, on his or her children, grandchildren, parents, brothers and sisters. βTax Planning in Light of the Death Tax About the 2025 Tax Rates, 2025 Tax Rates and the Death Tax β IRS The federal estate tax rate rose from 40 percent in 2025 to 45 percent in 2017. The increase in the tax rate came in response to the death of the tax's namesake, former President Gerald Ford, who died in 2009. The rates are as follows: The first 5.49 million of income received by a married couple or a single person and the assets in excess of 10 million (which is used to determine the estate tax liability) will be taxed at only the 40 percent federal estate tax rate. The amount of the exemption (5.48 million in 2017) was added to the amount of income that is taxed at the 40 percent rate (which was 10.8 million in 2013).
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