Fiduciary's Personal Liability for Estate's Unpaid Taxes
Federal law provides that fiduciaries paying any part of another debt before a government claim may be held personally liable for the trust or estate's income tax (and penalties) to the extent of the unpaid government claims. This EIA reviews a fiduciary's personal liability under the Federal Priority Statute and the U.S. District Court's decision in U.S. v. Johnson, which ruled on the effect of an IRC Sec. 6324A special lien on such liability.
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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