Estate & Gift Tax: Basics & A View of IRS Practice

[@BreakIntoTax]

We hope you like these short overviews of specialized tax areas. This one also includes a bonus "tax careers" component! Should we make more videos like this?

[@stacypeters2856]

YES I love your channel

[@BreakIntoTax]

@@stacypeters2856 Wow! Thanks so much!

[@issacndu7551]

Yay Professor. ❤️ From a Squaddie

[@ECO473]

Of all of the tax classes I've taken over the years, Estate & Gift Tax is my favorite, with Tax Procedure & Practice a very close second.

[@ECO473]

Great stuff!!! Keep it up!!!

[@BreakIntoTax]

Thank you very much!

[@ECO473]

The marital deduction is quite generous for both the gift tax and estate tax.

[@ECO473]

Question: As I recall, the estate tax is payable from estate resources, and the estate tax return is due nine months from the date of death. Secondly, IRC Section 6324 allows the IRS to go after the beneficiaries for any unpaid taxes after 10 years. Does that still apply?

[@BreakIntoTax]

We can't give legal advice & I'm not an estate tax expert. I'll leave it to others to respond, if they want.

[@ECO473]

@@BreakIntoTax Fair enough. 😊