Ask Experts Questions for FREE Help !
Ask
    Mysti777's Avatar
    Mysti777 Posts: 2, Reputation: 1
    New Member
     
    #1

    Jul 12, 2011, 09:21 AM
    Taxes Owed
    My Mom passed in 2010, we just received notification that she owes taxes for 2009. What do we do?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
     
    #2

    Jul 12, 2011, 09:40 AM

    One of the responsibilities of the executor of your mother's estate is to take care of any debts she owed, including taxes. The executor will need to respond to the IRS notification, and if taxes are due pay them out of the estate's assets (as an aside - the executor should have filed an income tax return for your mother for 2010). This is why it is advisable for the executor to not distribute all the estate's assets to the heirs too soon - but rather hold some in reserve for a year or so in case old debts like this come up.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #3

    Jul 19, 2011, 12:52 PM
    Ebaines points are well taken. While I am NOT an attorney, I DO know that the probate process in most state courts require a year to properly notify all parties of the decendet's deaths and to give them time to make a claim against the estate.

    Note that if the estate has insufficient assets to pay the taxes due, neither the heirs NOR the executor are required to pay these taxes UNLESS they were distributed estate assets before the taxes were paid. If there was an early distribution, then the IRS WILL contact the heirs for payment of the taxes.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Taxes owed: [ 1 Answers ]

Myself and my siblings inherited and sold property in New York, we each received a predetermined amount from the sell of this property do we have any taxes to pay 2010 resulting from the sell of this property we all live in Ohio, but one lives in NY

Taxes owed [ 17 Answers ]

If the IRS finds I owe taxes on about 30000 dollars what would Iowe in taxes and penatlys and would they offer a settelment amount and what percentage would you think that would be. I'm being audited ps this is for 2006 2007

K1 Taxes Owed, I Think: What to do? How do I know? [ 3 Answers ]

I recently realized that money I was receiving from a trust was taxable income. I was an F1 student from Fall 2005 to Spring 2007, an F1 on OPT in July 2007, and an H1 since July 2008. My employer deducts taxes from my paycheck. What tax files do I file? Last year I filed a 1040NR-EZ and...

Owed taxes [ 4 Answers ]

I am in the process of attempting to take care of all my tax issues and was told that I may possibly owe approximately $18,000.00 from 2003 due to capital gains what should I do there is no way I could pay that

Taxes owed - IRS notice [ 3 Answers ]

Hello…I received a notice from IRS saying that I owed $21,000 taxes and penalties for securities that I did not report on my 2005 tax return. The securities belonged to my mother who died on 12/30/2004. After the holiday, I notified that my mother had died. You should know this: When my...


View more questions Search