Fiduciary's Liability for Penalties for Failure to File or Pay Under IRC Section 6651 and Knappe v. United States (PDF)
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A fiduciary can be liable for penalties for failure to file a decedent's or estate's tax return and failure to pay the taxes. This EIA discusses fiduciary liability for those penalties and looks at a recent decision where a federal court considered whether the IRC Sec. 6651(a)(1) late filing penalty was properly assessed against an executor who had relied on his accountant's advice with respect to the filing deadline for the estate's tax return.
Diane L. Mutolo, J.D., LL.M. is a member of the New York Bar, and her LL.M. is in Taxation. She is the update author for the LexisNexis Matthew Bender treatise, How to Save Time & Taxes Preparing Fiduciary Income Tax Returns.
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