What taxes are due on Inheritance and on Ladybird Deed?
This column first appeared in the San Antonio Express News on October 27, 2015. Dear Mr. Premack Historically, Congress has maintained several different tax classifications (all found in the Internal Revenue Code and administered by the IRS). For instance, the income tax is very different from the gift tax or the estate tax or excise taxes (like the taxes we pay on gasoline, alcohol or cell phones). When you are due an inheritance, it may be subject to two taxes before you re