My parents got divorced in 1986. My father didn't file his taxes from 1987 until 1993. He has been living overseas since. Every year, my mom keeps getting tax notices saying her ex-husband owns money to the IRS. My dad can't afford to pay this money now. Am I liable to pay for it? What about if he dies, am I liable? Does anyone know? Would that affect me in the future if I want to apply for a loan?Please let me know. Thank you.
2007-01-29 09:43:35 · 2 answers · asked by pisces81blue 2 in Business & Finance ➔ Taxes ➔ United States
No, only your Dad is liable for his taxes.
When he dies, his estate will probably be attached by the IRS for any taxes that are still outstanding. If he has no property that the IRS can attach, and they often CAN attach foreign property if there is a reciprocal tax treaty, the bill will simply go unpaid.
Once the IRS gets their due out of the estate, anything that is left would be divided according to his will or under the laws of the jurisdiction where he died or where he was domiciled if there was no will.
To sum things up, the only affect that this can have on you is your inheritance. You are not liable and it won't affect your credit rating at all.
2007-01-29 09:56:09 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
You aren't liable for it. The only way it would affect you is if you're his heir when he dies, since his estate would be liable.
2007-01-29 20:50:29 · answer #2 · answered by Judy 7 · 0⤊ 0⤋