Q: can they charge you inheritance tax if you never received the inheritance?
Court papers mailed to us saying we owe taxes on an inheritance. We never received an inheritance. We were told that once my husbands dad and uncle pass away then my husband would get what is left over, however when I call the courts it says that it was tax on an amount down to the penny. I called my uncle and he said it is for "just in case we get money" I am so confused.
A: The tax is based on the fair market value of what the beneficiary receives, even though the actual receipt may be postponed. The lawyer will need more facts to answer.
Julie Fowler agrees with this answer
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