Irs sent notices to their old address for 4 years, found out when we went home for visit by old friends in the area,moved from area same year. irs sent notices to their old address. now bill is 10 thousand more due to interest. any suggestions. need help here folks
2006-07-12 06:02:06 · 3 answers · asked by declappy 1 in Politics & Government ➔ Government
We did receive a cash settlement after it went through the probate courts and was closed by the courts. why did the courts close the estate if there was monies owed? also there were two exec on the estate the monies was split between bother and sister. are both sides reponsible?
2006-07-12 06:16:17 · update #1
They don't owe anything, they're dead. The Irs doesn't know that yet. I'd say to call the number on the form and tell the IRS this or else get an accountant to do it for you.
2006-07-12 06:07:28 · answer #1 · answered by sundragonjess 5 · 0⤊ 0⤋
They're dead. The IRS gets nothing. You are NOT liable to cover their taxes, unless you receive a large cash settlement from their estate. IF you did, you have to pay the IRS. The estate attorney should have taken care of any tax liability. If he didn't, you're going to have to. They WILL figure out where the money went and come to YOU to get it.
2006-07-12 06:07:12 · answer #2 · answered by Quietman40 5 · 0⤊ 0⤋
Talk to a tax lawyer.
If you didn't transfer property out of their estate, then tax would be owed on it.
Any tax that was owed (income or otherwise) while a person is alive is still owed when they are deceased. If there was an unresolved tax bill, it is still owed by the estate and interest and penalties can accrue.
2006-07-12 06:06:30 · answer #3 · answered by justwebbrowsing 3 · 0⤊ 0⤋