§ 450.94 — Return — determination — appeal

Iowa § 450.94

• Jurisdiction: Iowa
• Title X: FINANCIAL RESOURCES
• Ch. 450: INHERITANCE TAX

Text

1. “Taxpayer”asusedinthissectionmeansapersonliableforthepaymentoftaxasstated
in section 450.5.
2. Unless a return is not required to be filed pursuant to section 450.22, subsection 3, or
section 450.53, subsection 1, paragraph “b”, the taxpayer shall file an inheritance tax return
on forms to be prescribed by the director of revenue on or before the last day of the ninth
monthafterthedeathofthedecedent. Whenaninheritancetaxreturnisfiled,thedepartment
shall examine it and determine the correct amount of tax. If the amount paid is less than
the correct amount due, the department shall notify the taxpayer of the total amount due
togetherwithanypenaltyandinterestwhichshallbecomputedasasumcertain, withinterest
computed to the last day of the month in which the notice is dated.
3. If the amount paid is greater than the correct tax, penalty, and interest due, the
department shall refund the excess with interest in accordance with section 421.60,
subsection 2, paragraph “e”. However, the director shall not allow a claim for refund or
credit that has not been filed with the department within three years after the tax payment
upon which a refund or credit is claimed became due, or one year after the tax payment
was made, whichever time is later. A determination by the department of the amount of
tax, penalty, and interest due, or the amount of refund for excess tax paid, is final unless
the person aggrieved by the determination appeals to the director for a revision of the
determination within sixty days from the date of the notice of determination of tax, penalty,
and interest due or refund owing or unless the taxpayer contests the determination by
paying the tax, interest, and penalty and timely filing a claim for refund. The director shall
grant a hearing, and upon the hearing the director shall determine the correct tax, penalty,
and interest or refund due, and notify the appellant of the decision by mail. The decision
of the director is final unless the appellant seeks judicial review of the director’s decision
under section 450.59 within sixty days after the date of the notice of the director’s decision.
4. Payments received must be credited first to the penalty and interest accrued and then
to the tax due.
5. a. The amount of tax imposed under this chapter shall be assessed according to one of
the following:
(1) Within three years after the return is filed with respect to property reported on the
final inheritance tax return.
(2) At any time after the tax became due with respect to property not reported on the final
inheritance tax return, but not later than three years after the omitted property is reported
to the department on an amended return or on the final inheritance tax return if one was not
previously filed.
(3) The period for examination and determination of the correct amount of tax to be
reported and due under this chapter is unlimited in the case of failure to file a return or the
filing of a false or fraudulent return or affidavit.
b. In addition to the applicable periods of limitations for examination and determination
specified in paragraph “a”, subparagraphs (1) and (2), the department may make an
examination and determination at any time within six months from the date of receipt by
the department of written notice from the taxpayer of the final disposition of any matter
between the taxpayer and the internal revenue service with respect to the federal estate,
gift, or generation skipping transfer tax. In order to begin the running of the six months
assessment period, the notice shall be in writing in form sufficient to inform the department
of the final disposition of any matter with respect to the federal estate, gift, or generation

skipping transfer tax, and a copy of the federal document showing the final disposition or
final federal adjustments shall be attached to the notice.

Legislative History

[S13, §1481-a43; C24, 27, 31, 35, 39, §7396; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §450.94; 81 Acts, ch 131, §17]