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Are adult children responsible for tax arrearages of a deceased parent who had no estate?
It could depend on what kind of taxes. If it's US Federal or state income tax, only the person(s) signing the return are liable. If it is property taxes, the house will be sold at auction after it is seized by the tax collector. The IRS/State can take the filer's property, real or personal to be sold for back taxes.
More input from FAQ Farmers:
- In most cases no, because they were not the childrens' taxes, now if there is anything "left" to the children, it may be taken by the IRS or other agency and auctioned off until the debt is paid. Usually they will give the executor of the estate a time frame (sometimes 90 days) to sell off any assests of the deceased and submit payment, after this time is up they come in and auction it for themselves. If there is "nothing left" in possession of the deceased it usually won't fall to the childrens' responsibility unless they possess some of the deceased money or possessions.
What else can I help you with?
Is the Power Of Attorney responsible for deceased parents tax arrearages from 2 years ago?
A Power of Attorney is extinguished when the principal dies. The estate of the debtor is responsible for paying their tax arrearages.
Are children responsible for paying back taxes owed on deceased parents house in Michigan?
The estate of the deceased is...of course that may essentially be simply a reduction of what the children would get. But the tax does not go away..the property owes it and if it must be sold to collect it, by the estate (or the tax jurisdcition), it has to be, before clear title can go to anyone else.
Is an adult child responsible deceased parents credit card bills in Illinois?
In Illinois, adult children are generally not responsible for their deceased parents' credit card bills unless they were joint account holders or co-signers on the accounts. The deceased's estate is responsible for settling any debts, including credit card bills, before any assets are distributed to heirs. If the estate lacks sufficient funds, the debts may go unpaid, and creditors typically cannot pursue the adult children for those debts. It’s advisable for adult children to consult with a probate attorney for guidance specific to their situation.
Who is responsible for your tax debt after your death?
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.
Is the surviving spouse responsible for deceased spouse's federal income tax?
I take it that the two of you filed separate returns and kept your funds separate. You are probably not responsible for your deceased spouse's federal income tax. However, your deceased spouse's estate is responsible for his or her federal income tax. That is if there is enough money in the estate to pay the taxes. Otherwise, you may need a good tax lawyer.
Is the Power Of Attorney responsible for deceased parents tax arrearages from 2 years ago?
A Power of Attorney is extinguished when the principal dies. The estate of the debtor is responsible for paying their tax arrearages.
Are children responsible for the debts of their deceased mother in Illinois?
The estate of the deceased is responsible for the debt.
Are adult children responsible for paying deceased parents real estate taxes?
No, the estate is responsible for the medical bills of the deceased. Only after they are resolved can the estate be closed any remainder distributed.
Are children of deceased parent responsible for bills in ga?
In Georgia the estate is responsible for the medical bills of the deceased. Only after they are resolved can the estate be closed and any remainder distributed.
Are the children responsible for bills if deceased is indigent in Ohio?
In Ohio the estate will be responsible for the medical bills of the deceased. Only after they are resolved can the estate be closed and any remainder distributed.
Are children of deceased responsible for his debt in Colorado?
The estate is responsible for the debts of the deceased. That means before the estate can be settled, all debts have to be cleared. If there is not enough in the estate to cover them, there are some people who will not get paid.
Are children of deceased responsible for his debt in California?
The estate is responsible for all the debts of the deceased. That means before the estate can be settled, all debts have to be cleared. If there is not enough in the estate to cover them, there are some people who will not get paid.
Are children responsible for a deceased parent in the state of Pennsylvania?
The estate is responsible for all the debts of the deceased. The children are not required to pay them from their own funds, but it will reduce the amount they inherit.
Are children responsible for deceased parents dental bills in Oregon?
The estate is responsible for all the debts of the deceased including dental bills. The children are not required to pay them from their own pocket.
Are children resonsible for their deceased parents' debts in Virginia?
The estate will be responsible, not the children. They will not be able to inherit until they are resolved.
Are children of deceased responsible fo his debt in Idaho?
As in all states, Idaho require the estate to be responsible for all the debts of the deceased. That means before the estate can be settled, all debts have to be cleared. If there is not enough in the estate to cover them, there are some people who will not get paid.
What if deceased mother left bills with no estate?
The children are not personally responsible for the bills, unless they co-signed them. However, the estate is responsible. Which means that the estate may be depleted and a lien placed on the house. The children may not inherit anything.
