The difference between estate taxes and inheritance taxes is who is responsible for paying the tax. Estate taxes are imposed on the deceased person; from business, investment or other assets not willed or given to a beneficiary. Estate tax returns are usually filed by an Estate tax attorney. (If you need assistance with Estate taxes or transfer Inheritance taxes, please consult with an attorney.) Inheritance tax is paid by the beneficiary that inherits money, property, or other assets after someone dies.
There is no federal inheritance tax. Currently, there are only six states required to file inheritance taxes: Pennsylvania, New Jersey, Maryland, Iowa, Kentucky, Nebraska.
To assure we prepare your Rev-1500 return accurately, please tap the Inheritance Tax button to answer a few questions.
Note: After completing the form, an email from “Secure Client” will be sent, with access to create a secure share file account in our client portal. That account is where you can upload the required documents and receive your finished return.