Taxes are the last thing anyone wants to deal with after the death of a loved one, but it’s important to understand them when transferring an estate to a beneficiary. W & H Tax Services can help. Virginia does not collect taxes on inheritance in accordance with the 2006 General Assembly House Bill 5018. There are several federal forms and returns that may be filed for a deceased person and the estate. Our enrolled agent can help make sure you’re filing in compliance with all federal laws. Don’t file on your own and risk a problem with your estate. Call W & H Tax Services today.
There are numerous costs associated with the distribution of an estate. The basic taxes everyone should be aware of in the event of a death are: