Actually, no. The IRS will do what they can to get the donor and donee in court to amicably come up with a situation to get compensated, but they can not force a tax upon an individual who is not responsible. Transferee liabilty will not come into play here at all.

quote:
ransferee at law arises when a person/entity is responsible for the transferor's tax liability because of a contractual agreement with the transferor. In this situation, a valid contract must exist and the government must prove that the tax liability was within the terms of the contract

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Posted by MMauler

Member since Jun 2013

19216 posts

Posted on 2/8/16 at 2:29 pm to lsupride87

quote:
Actually, no. The IRS will do what they can to get the donor and donee in court to amicably come up with a situation to get compensated, but they can not force a tax upon an individual who is not responsible. Transferee liabilty will not come into play here at all.

Hey F*CKWAD, quit making a complete f*cking a$$ of yourself.

quote:
6324(b) Lien For Gift Tax
Except as otherwise provided in subsection (c), unless the gift tax imposed by chapter 12 is sooner paid in full or becomes unenforceable by reason of lapse of time, such tax shall be a lien upon all gifts made during the period for which the return was filed, for 10 years from the date the gifts are made. If the tax is not paid when due, the donee of any gift shall be personally liable for such tax to the extent of the value of such gift.

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I could count on 1 hand how many times I have seen people actually file this

Because very few people are in an estate tax position. Those that are file the f*cking return to get the statute of limitations running - mainly for valuation purposes.

PLEASE, PLEASE, PLEASE tell me you aren't a CPA or lawyer.

This post was edited on 2/8/16 at 2:33 pm

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