How long do I have to pay the inheritance tax?
May 5, 2024 | 50,00 EUR | answered by Wilhelm Ackermann
Dear tax advisor,
My name is Sandra Hausdorf and I recently inherited some assets. Unfortunately, I am unsure about how much time I have to pay the inheritance tax. This situation is new to me and I am worried that I may be running out of time, leading to additional costs.
I have already researched some information about inheritance tax, but I could not find a clear answer on how long I have to pay the tax. I am aware that the deadline may vary from state to state and also depends on the amount of the inheritance.
Could you please explain to me how much time I have to pay the inheritance tax? Is there a possibility of an extension of the deadline and what steps do I need to take to request this extension? I would greatly appreciate your help and guidance on this matter.
Thank you in advance.
Kind regards,
Sandra Hausdorf
Dear Mrs. Hausdorf,
Thank you for your inquiry regarding inheritance tax and the associated deadlines for payment. I understand that this may be a new and possibly confusing situation for you, so I would like to help you further by providing you with all the necessary information.
The deadline for payment of inheritance tax is usually three months from the moment you become aware of the inheritance. However, this period may vary depending on the federal state, so I recommend that you inquire directly with your local tax office to find out the exact deadline for your federal state. It is important to meet this deadline, as late payment may incur additional costs in the form of default interest or even fines.
If you are unable to pay the inheritance tax within the deadline, you have the option to apply for an extension. To do this, you must submit an informal application to the relevant tax office, explaining the reasons for the extension. For example, it may be that the settlement of the estate takes longer than expected, or that you are unable to pay the tax on time due to financial difficulties. In any case, it is important to submit the application well before the payment deadline expires to avoid possible sanctions.
It is advisable to address the issue of inheritance tax early on and seek professional help from a tax advisor like myself if necessary. I am available to analyze your individual situation and assist you with all steps related to inheritance tax.
I hope that I was able to help you with this information and I am available for any further questions.
Sincerely,
Wilhelm Ackermann
