AboutJay Allen Finn, CPA Expertise IRS Audits. All Collection Tax problems; specifically but not limited to, delinquent returns, bank levies, liens, garnishments of wages, Also specializing in Offer in Compromise. Limited to 1040/ personal tax issues
Experience 27 years experience as a CPA in the IRS defense area following a position as an IRS Auditor in the oil and gas industries.
Organizations Texas Society of Certified Public Accountants (Peer Assistance Committee), Houston Chapter of the Texas Society.
Publications Submit your articles.com
Education/Credentials BBA - Bachelors of Business Admin., Magna cum laude, Series 6 and 68 - Registered representative, Series 65 - Financial planner. Certified Public Accountant
Expert: Jay Allen Finn, CPA Date: 7/11/2008 Subject: Are we liable for deceased Fathers taxes
Question Hello,
My father in law died 4/2006. He had actually filled out his 2005 using turbo tax but I chose not to file because I couldn't pay the $528 due. IRS catches up later and I use home eq loan to pay this amt. I chose not to pay the int and penalties of $314. They still want this. Do we legally have to pay this? OR EVEN THE 528? Thank you!
Answer Julee,
This is my opinion only but it had come up once or twice. You should probably call IRS and ask them to explain their position on holding an heir responsible and then write me back. The best number (while there may be a hold) is: 1-800-828-1040.
But again my onion is: Unless you have received any real assets to draw from (IRS may always surmise that you received personal property) and that type of thing but this is not real assets. Again, my opinion: Would relate to what if anything was left to you to derive your settling with IRS should you pay any tax, interest and/or penalty.
