INHERITANCE TAX Definition

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INHERITANCE TAX is a tax charged on the passing of wealth from one person to another, either during life or at death.

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TAB is Tax Anticipation Bill.

CONSOLIDATION is similar to refinancing, but there is no loan fee. It simplifies loan repayment by combining several types of federal education loans into one new loan. (In the case of Direct Loan consolidation, the interest rate may be lower than one or more of the underlying loans.).

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