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I am the executor for an estate where the deceadent owed property taxes and federal income taxes. The state of New York took the deed to the real estate associated with the estate while we are making payments to them for what we owe.

My question is that the estate also owes money on back Federal Income Tax. Can the Federal Government take the deed from the state in this instance?

2007-06-05 16:40:14 · 1 answers · asked by fa98 2 in Business & Finance Taxes United States

1 answers

No. But if you clear the issue with NY and get the deed back, the IRS can take it from the estate.

2007-06-05 21:29:52 · answer #1 · answered by Bostonian In MO 7 · 0 1

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