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Who is responsible for your tax debt after your death?

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2012-02-25 17:47:16
2012-02-25 17:47:16

The estate is responsible for the tax debts of the deceased. That means before the estate can be settled, all debts, including taxes, have to be cleared. If there is not enough in the estate to cover them, they may not get paid.

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If a dependent parent dies then the estate will be responsible for their tax debt. If you are over their estate then you would have to ensure that the government gets their taxes.



It will depend on whether she was listed in the debt documents. In most cases the estate will be responsible and if there are not enough assets, the debt goes unpaid.


No, you are not responsible for the debt. The power of attorney terminated at the death of the deceased. The estate is responsible to resolve the debts.


Heirs are not responsible for any debt. The debt is the responsibility of the estate. If there are not adequate assets, the debtors don't get paid and the heirs will not receive anything.


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The estate of the spouse is responsible. IF both are on the same checking account then the FULL amount of that checking account can be considered the spouses estate too. Even if the account is closed just prior or just after death, then the amount in the account months prior is still considered a portion of the estate.


The borrower, i.e., the person who signed the note, is responsible for payment. If the borrower has died their estate is responsible. If there is no estate the creditor is out of luck. If there was a co-signer then they will be held responsible for paying the debt.


No, I don't think you would ever be responsible for their taxes. You may be liable for their debt though... agreeably a different matter.


Actually, the answer is the credit card holder is responsible for the debt if single, otherwise the spouse may be responsible for a partners debts. If it was made while they were married, otherwise, the bank can't collect the debt.


Your estate is responsible. Other card holders on the account have a responsibility as well.


AnswerNo, you need to send a copy of the death certificate to the credit card company. You are not responsible for your father's debt.


Tax debt refers to the tax paid on the amount of debt the company has outstanding still. This varies significantly by company and non-profits do not pay tax.


who is responsible for baptist church debt


The child is not responsible for the debts of the parents. The estate has to resolve all of these before they can close it out.


The student's estate is responsible for paying their debt unless there was a co-signer. If there is no estate the lender is out of luck. If there was a co-signer the lender will seek payment from that party.




Yes. Your estate is responsible for your debts after your death.


That is a great questions and it relies on a couple key points of information. A spouse is only responsible for tax debt if they: A. filed a joint return during the year the tax event (or debt) occurred B. The spouse filed separately, but shares a bank account with an individual who has a tax lien or levy filed against them as the IRS may seize the bank account (and in doing so seize the spouses money as well). The good news is there are ways to detach a spouse from the liability via an Innocent spouse claim. Additionally, there are many ways to resolve back tax debt via IRS resolution programs aimed at assisting tax payers to resolve back tax liabilities. These include IRS settlements, income based repayment plans, and/or non collectible statuses where the tax payer's expenses exceed their income and show they have an inability to afford the tax debt. We always recommend consulting with an experienced tax practitioner who deals specifically with back tax debt and IRS & State tax resolutions.


The estate is responsible for all debts, including taxes. The spouse benefited from the income.



I live in California, and my grandmother passed away and I contacted the credit card companies, told them she died, sent a death certificate, and they took care of the debt.


There is no specific amount of years that you are responsible for a debt. This depends entirely of the terms of the debt.


Both of the spouses are responsible for the debt. They both benefited from the debt, so they are held responsibility.



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