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Question

Decedent died 1965. Estate still open. Federal Estate tax return filed February 5th, 2006. No assessment of tax to date. Is the Executor insulated from exposure to tax liabilty by IRC 6501 so that final distribution of all assets can be made?

Submitted: 400 days ago.
Category: Tax
Value: $30
Status: CLOSED

Accepted Answer

Hello and thanks you for using Just Answer. The executor is responsible for paying the federal estate tax, IRC 2002,. The executor can request a discharge of personal liability for federal estate tax by making a written request before or after the estate tax return has been filed. The executor can request a discharge of liability of the decedent's income using Form 5495, www.irs.gov/pub/irs-pdf/f5495.pdf, that must be filed after the estate return has been filed.

 

The statute of limitations on tax year 2006 expire on April 15, 2010.

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Expert: Marvin,EA
Pos. Feedback: 98.5 %
Accepts: 1431
Answered: 2/14/2009

Enrolled Agent

10 years self employed , Income Tax Preparation & Representation

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