I received the following from a client about a week after another client faxed me a copy of similar email she had received:
Subject: Is this a scam?–>> Tax refund – Online form
Kerry
I got the below notice – supposedly from the IRS. There is a link to push – but I see the words –redirect- and I think this is some kind of scam to get my ss# or who knows what.
After the last annual calculations of your fiscal activity we have determined that you are eligible to receive a tax refund of $620.50. Please submit the tax refund request and allow us 3-6 days in order to process it.
A refund can be delayed for a variety of reasons. For example submitting invalid records or applying after the deadline.
To access the form for your tax refund, please click here
Note: For security reasons, we will record your ip-address, the date and time. Deliberate wrong inputs are criminally pursued and indicated.
Regards, Internal Revenue Service
Copyright 2008, Internal Revenue Service U.S.A. All rights reserved.
My Reply:
That URL appears to be in Japan.
That is one of the scams that IRS has been warning people about.
The Kennedy Klan has been promoted to a status of as close to royalty as can be attained in this country, in spite of the fact that their fortune was amassed by Joe Kennedy through illegal bootlegging and stock fraud activities. To top it off, they have long used trusts to avoid having to pay the kinds of estate taxes that they want everyone else to pay.
Hello: I read your blog, but could not figure out how to ask you a question. My 90 year old mother died in 9/2007. Prior to her death she had been gifting $12,000 per person and paying tuition directly to institutions. The estate has not yet settled because the executor asked for an extension. I just received my tuition bill for $11,000. 1) Do the $12,000 per person gifts continue after death, and 2) do the tuition payments continue after death? When you answer, could you point me to the appropriate IRS literature? Thank you,
A:
This isn’t really a tax issue that you are dealing with. It is more of an estate settlement issue that you need to work out with the attorney and executor who are handling the disposition of your mother’s estate. Some of the exact answers will depend on the rules for your mother’s particular state of residence when she passed away.
Basically, when a person passes away, her ability to make gifts terminates at the same time. So, the annual gifts your mother was giving you can’t continue.
however, this is when her will or living trust kicks in. She may have left you a lump sum of money to use to continue your education or she may have designated that a trust be established for your benefit, out of which your tuition will continue to be paid. Both of these, as well as other variations and combinations, are common estate planning scenarios.
Again, you need to consult with the attorney and executor to see how you will be affected.
Good luck.
Kerry Kerstetter
Follow-Up:
Kerry: Thank you so much for your response! I thought that her ability to gift died with her, but I could not find anything that actually said it. Sincerely,
Posted in Gifting | Comments Off on Gifting ceases with death
Tax Guru - Ker$tetter Letter 