Which tax is assessed by the federal government against the estate of deceased person before it is passed to heirs?

Question

Quizplus · Accepted Answer

The federal government assesses an estate tax on the assets and property of a deceased person before it is passed on to their heirs. This tax is based on the total value of the estate and can be a significant amount for larger estates. Inheritance taxes, on the other hand, are assessed at the state level and are based on the value of the assets received by each individual heir, rather than on the total value of the estate. Excise taxes and flat taxes are different types of taxes that are not relevant to this specific question.

Which Tax Is Assessed by the Federal Government Against the Estate