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Should some of you East-Coasters try flying to California, so you can get an extra 3 hours to complete your filing? 
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I'm late this year.
Sest La Vy.
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I'm late this year.
Sest La Vy.
Finally got it in the post today.
Not that it'll keep me in hand cream long.....
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I filed my extension for the 2015 stuff last week. I have to work on quarterly taxes, and have them done by Monday.
Oh, and those of you smug sorts who are about to post how happy you are that YOU got yours done AGES ago, I challenge you to reveal whether YOU did it yourself, or you PAID someone to do it for you.
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I filed in February just to get it finished early.
My mom died in 2012, and I was the executor of her estate. I was informed by my accountant that all of the proceeds of my inheritance were TAX-FREE. Well, late last year, the IRS began sending me notices that I owe them $5000 from her estate, which I have since been appealing.
In March, the IRS simply denied me the income tax return from 2015, since they obviously seem to think that I'm guilty until proven innocent.
You won't hear any complaints from me, though.
Yes, I believe the USA is in great need of serious tax reform, however, I am blessed and happy to be a citizen, and I'll never gripe about the cost of living my life here.
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Posted: |
Apr 15, 2016 - 1:42 PM
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By: |
Bob DiMucci
(Member)
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My mom died in 2012, and I was the executor of her estate. I was informed by my accountant that all of the proceeds of my inheritance were TAX-FREE. Well, late last year, the IRS began sending me notices that I owe them $5000 from her estate, which I have since been appealing.
Unless it was an unusually large estate, an inheritance is usually free of gift or estate taxes. As far as income taxes, it depends upon what the assets are. If you sell appreciated assets (such as stock or a home), you may be subject to taxes on the appreciation. If you receive or draw from an regular IRA, 401K, or other pre-tax asset, the income will be taxable to you, just as it would have been taxable to your Mom.
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