Do you pay estate taxes for the deceased plus federal taxes on what the beneficieciers get as regular income?
If someone dies and you pay the estate tax to the state on their assets at time of death (say 4%), do the heirs then also pay a federal tax on the amount that they get distributed from the balance of the estate?
Public Comments
- The estate pays the estate tax. This is done BEFORE any beneficiary gets a bequest. There is no federal inheritance tax. Very few states have one.
