My main point of argument is if they tax the dead person's assets all the time they are alive, why do they again get to tax it when they die?
They're double dipping, and sometimes worse than that...
I have gainfully benefited from losing a loved one. No matter the assets involved, it is just a sucky situation emotionally and it can even tear families apart without everyone else, .gov included, showing up wanting their cut.
I just think it is disgusting that the .gov practically shows up at the end of the year with their vampire teeth in wanting to suck more blood from a corpse they've already bled it's entire life... and they do this even in cases less than the inheritance tax limits...
If you inherit tangible assets that you sell, you have to claim that as income... If you draw interest on any moneys you deposit, you claim that as income... If you do anything other than let property/money sit still, generating nothing, then the .gov wants a cut...
Not that I agree with it, but they aren't really taxing the dead person's assets. They are taxing the one receiving the inheritance because the assets are new to him or her. At least that is the way the government looks at it.
But just for the heck of it.
Now my advise to those who die
Declare the pennies on your eyes
'Cause I'm the taxman
Yeah, I'm the taxman.