- 8 - Federal estate tax or addition to tax had been paid by or for the account of decedent's estate. Both decedent's estate and the Marital Trust are insolvent as all assets of decedent's estate, including the Marital Trust assets, have been distributed to Charles L. Govern II. Discussion I. Liability Under Section 6324(a)(2) Section 6901(a)3 establishes a procedure for the assessment and collection by the Commissioner of unpaid Federal income, estate, or gift tax liability from a transferee. Section 6901 does not create or define a transferee's substantive tax liability, and the substantive basis for the assertion of transferee liability under section 6901 must generally be found 2(...continued) we entered a stipulated decision on Aug. 1, 1995, that resolved the amount of the underlying deficiency in estate tax and addition to tax due from decedent's estate. 3Sec. 6901(a) provides, in pertinent part: SEC. 6901(a). Method of Collection.--The amounts of the following liabilities shall, except as hereinafter in this section provided, be assessed, paid, and collected in the same manner and subject to the same provisions and limitations as in the case of the taxes with respect to which the liabilities were incurred: (1) Income, estate, and gift taxes.-- * * * * * * * (ii) of a decedent in the case of a tax imposed by chapter 11 (relating to estate taxes), orPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Next
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