Sec. 124.010. EFFECT OF EXTENSION OR DEFICIENCY IN PAYMENT OF ESTATE TAXES; LIABILITY OF REPRESENTATIVE. (a) If the date for the payment of any portion of an estate tax is extended:
(1) the amount of the extended tax shall be apportioned to the persons who receive the specific property that gives rise to the extension; and
(2) those persons are entitled to the benefits and shall bear the burdens of the extension.
(b) Except as provided by Subsection (c), interest on an extension of estate tax and interest and penalties on a deficiency shall be apportioned equitably to reflect the benefits and burdens of the extension or deficiency and of any tax deduction associated with the interest and penalties.
(c) A representative shall be charged with the amount of any penalty or interest that is assessed due to delay caused by the representative's negligence.
Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff. January 1, 2014.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle C - Passage of Title and Distribution of Decedents' Property in General
Chapter 124 - Valuation and Taxation of Estate Property
Subchapter A. Apportionment of Taxes
Section 124.002. References to Internal Revenue Code
Section 124.003. Apportionment Directed by Federal Law
Section 124.004. Effect of Disclaimers
Section 124.005. General Apportionment of Estate Tax; Exceptions
Section 124.006. Effect of Tax Deductions, Exemptions, or Credits
Section 124.007. Exclusion of Certain Property From Apportionment
Section 124.008. Exclusion of Certain Temporary Interests From Apportionment
Section 124.009. Qualified Real Property
Section 124.011. Apportionment of Interest and Penalties
Section 124.012. Apportionment of Representative's Expenses
Section 124.013. Withholding of Estate Tax Share by Representative
Section 124.014. Recovery of Estate Tax Share Not Withheld
Section 124.015. Recovery of Unpaid Estate Tax; Reimbursement
Section 124.016. Time to Initiate Actions to Recover Unpaid Estate Tax