When is a tax release, also commonly known as an inheritance tax waiver, required to be filed with the tax commissioner?
The tax commissioner no longer requires Application for Consent to Transfer Property of a Resident or Nonresident Decedent for assets equal to $25,000 or less per account. Also, tax releases are not required to be obtained for assets passing to a surviving spouse alone, regardless of the dollar amount. Tax Forms Click here to see news release for more information regarding this topic.
