will the money from the house get taken away from my dad since he has never paid his taxes? he lives in washington
2007-01-02 15:36:58 · 9 answers · asked by girlbld 1 in Politics & Government ➔ Law & Ethics
Washington state has no state income taxes. As for federal income taxes, the inheritance will surely throw a red flag to the IRS and they will be checking. Not only can your father be held liable, and fined and expected to pay back taxes, but all his assets will be possed by the IRS (that means anything he has in his name that is not debt bearing) but also can be put in prison for many many many years.
It's the best thing the government does. They are inadequate at everything else, but taxes are even more certain than death. Even Al Capone couldn't evade his tax responsibilities.
2007-01-02 15:47:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
there are diverse wild guesses right here! who's merchandising the homestead - you or the executors? If the executors are merchandising, then the homestead will join the valuables and Inheritance Tax would be payable by skill of the valuables if the entire sources includes better than £285k, including the homestead proceeds. in spite of the incontrovertible fact that, if the homestead has actual been handed to you and registered on your call, you would be liable to Capital constructive factors Tax on the adaptation between the Probate fee and £135k, besides the reality that as a prior answerer has suggested, you have an annual exemption of £9200. As you do no longer seem to pay tax, the chargeable income would be taxed at 22% EDIT: merchandising fee 135k much less Probate fee 98k = income of 37k (yet you additionally can think approximately sources brokers and legal expenses). First 9200 is exempt, so the tax would be approximately £6000 at 22%, yet once you're nonetheless being paid by skill of your organization, it may push you into the 40% bracket. no longer person-friendly to be extra precise with out understanding your earnings for this tax 12 months. the tax isn't payable till 31 Jan 2009 - if that facilitates!
2016-10-29 21:07:20 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Not if he gets the money before the IRS finds out.
Unless it's property taxes. Then he's screwed. Christine (our governor) WILL find out and place a lien on the property.
2007-01-02 15:42:08 · answer #3 · answered by nkroadcaptain 4 · 0⤊ 1⤋
If he has a warrant anything of value, that is in his name, can be taken to pay his tax bill!
2007-01-02 15:41:05 · answer #4 · answered by Anonymous · 1⤊ 0⤋
yes to pay the taxes, but if the title is change before anyone finds out, you could get the house
2007-01-02 15:44:27 · answer #5 · answered by nerie 1 · 0⤊ 1⤋
Yes. to the extent of whats owed plus penalties and compounded interest. She should have willed it to you.
2007-01-02 15:46:12 · answer #6 · answered by McDreamy 4 · 0⤊ 0⤋
Tax liens will override any wills, bancruptcies.. anything
2007-01-02 15:44:31 · answer #7 · answered by Anonymous · 1⤊ 0⤋
yes if his name is on the dotted line.
2007-01-02 15:41:05 · answer #8 · answered by ????? 2 · 2⤊ 0⤋
The IRS will get it.
2007-01-02 15:47:41 · answer #9 · answered by Yak Rider 7 · 0⤊ 0⤋