Stuck With the Bill? Executor Liability for Unreported Foreign Accounts

By Megan L. Brackney and Arnold Y. Kapiloff
Journal of Taxation
September 2009 Edition

Federal law imposes personal liability on fiduciaries who make distributions to benefi­ciaries and certain creditors, knowing that tax liabilities are owing to the gov­ernment. What does this mean for an executor who discovers that the dece­dent had a previously unreported for­eign bank account?

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