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• 1. R

     Seizure of trust assets by taxing authorities

     Thank you all! Very helpful! TM - much appreciated!

     • rkl122
     • Post #11
     • Nov 22, 2019
     • Forum: Tax Law
  2. R

     Seizure of trust assets by taxing authorities

     And this would apply to interest and penalties as well? Thank you for responding.

     • rkl122
     • Post #8
     • Nov 22, 2019
     • Forum: Tax Law
  3. R

     Seizure of trust assets by taxing authorities

     Thanks for responding. We are probating (medically indigent) relative's estate, very belatedly (for various reasons). Interest and penalties will be considerable, and we are trying to estimate how much will be left. We'd like to avoid attorney fees if this is a cut and dry situation. All...

     • rkl122
     • Post #7
     • Nov 22, 2019
     • Forum: Tax Law
  4. R

     Seizure of trust assets by taxing authorities

     The tax liability arose from failure to probate estate and file estate tax returns in timely fashion. There was a delay of several years. There was no intent to "hide" assets. The trust assets were accumulated while the decedent was alive. Does this change your opinion? Thanks.

     • rkl122
     • Post #3
     • Nov 22, 2019
     • Forum: Tax Law
  5. R

     Seizure of trust assets by taxing authorities

     What is the name of your state? NY My question: Can the IRS and New York seize revocable trust assets that became irrevocable on decedents death to pay estate taxes - belated probation, interest, and penalties - on decedents estate? Thank you.

     • rkl122
     • Thread
     • Nov 22, 2019
     • Replies: 10
     • Forum: Tax Law