Son liable for father's unpaid taxes

In Scott B. Rubenstein v. Commissioner, The Tax Court affirmed an IRS determination that a son is liable for his father's unpaid taxes as the transferee of his father's Florida condominium. Florida's Uniform Fraudulent Transfer Act (FUFTA) did not protect the son from the liability. T...

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Bibliographic Details
Published inJournal of Accountancy Vol. 210; no. 3; pp. 70 - 71
Main Authors Cooley, Karen M, Pulliam, Darlene
Format Magazine Article Trade Publication Article
LanguageEnglish
Published New York American Institute of CPA's 01.09.2010
American Institute of Certified Public Accountants
Subjects
Condominiums
Fines & penalties
Fraud
Government regulation
Internal Revenue Code
Laws, regulations and rules
Liability
Liens
Property transfers
Section 6901(a)
State court decisions
Tax court decisions
Tax courts
Tax evasion
Tax liens
Taxes
United States > US
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Summary:In Scott B. Rubenstein v. Commissioner, The Tax Court affirmed an IRS determination that a son is liable for his father's unpaid taxes as the transferee of his father's Florida condominium. Florida's Uniform Fraudulent Transfer Act (FUFTA) did not protect the son from the liability. The Tax Court sided with the lRS. The court held that the condo was properly considered an asset for purposes of the FUFTA, since the IRS could have reached it to collect Jerry Rubenstein's taxes either by an administrative levy or by bringing a lien-foreclosure suit in federal court, regardless of any homestead exemption.
ISSN:0021-8448
1945-0729