Expect the Unexpected: Valuation, Penalty, and Liability Issues in the Context of the Federal Estate Tax

Texas Tax Lawyer, Vol. 42, No. 3 (Spring 2015)

37 Pages Posted: 4 May 2015 Last revised: 12 Jan 2016

Date Written: May 3, 2015

Abstract

Failing to timely file the estate tax return, timely pay the estate tax, and properly report the values of the gross estate and related deductions can result in significant financial penalties not only to the estate, but to the personal representative and beneficiaries of the estate, as well. This article explores statutes and recent case law regarding issues involving valuation, penalties, and liability that can crop up when dealing with the federal estate tax.

Keywords: estate tax, valuation, penalties, executor liability, transferee liability

Suggested Citation

Laing, Nikki, Expect the Unexpected: Valuation, Penalty, and Liability Issues in the Context of the Federal Estate Tax (May 3, 2015). Texas Tax Lawyer, Vol. 42, No. 3 (Spring 2015). Available at SSRN: https://ssrn.com/abstract=2601973 or http://dx.doi.org/10.2139/ssrn.2601973
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