Letters of Administration are documents issued by a court that grant an executor the authority to manage the estate of a deceased person. The executor is responsible for collecting and distributing the assets of the estate, paying any debts, and filing the necessary tax returns. The executor must...
Filing Taxes for a Deceased Person The executor is responsible for filing a tax return on behalf of the deceased individual and paying all taxes that are due. In most cases, the executor will use Form 1040 to report income on behalf of the deceased. This is separate to the estate taxes w...
You'll need a tax payer identification number for the estate toopen the account. Once you're appointed executor or administrator, you can apply for the tax payer ID number online through the IRS website, IRS.gov. Complete IRS Form SS-4, Application for Employer Identification Number. Although...
If the person was receiving federal benefit payments to their account, such as Social Security payments, the account is subject to a reclamation review for paid federal benefits after date of death. These funds may be required to be returned to the issuing federal agency before any funds may ...
Also, in the year of the death of the deceased, the surviving spouse, trustee, executor or administrator should file the IRS Form 56, which alerts the Service as to the person who is responsible for filing the final tax return for the deceased. This return will report the income of the ...