The Impact:Skipping a deceased person's final tax return isn't just a paperwork issue — it can triggerIRS notices, penalties, or even collection attemptsif the agency assumes taxes are still owed. If the deceased was due a refund, it won't be automatically issued — someone has to file ...
(5) the tax return filed is on behalf of a deceased person, (6) you are filing certain IRS Forms (1310, 4852, 4684, 4868, 1040SS, 1040PR, 1040X, 8888, or 8862), (7) your expected refund amount is less than $500, or (8) you did not receive Forms W-2 or 10...
If you don't know if a donation qualifies, call the charity or visit www.IRS.gov. Then use all the tax advantages you can to support the causes that matter to you. With TurboTax Live Full Service, a local expert matched to your unique situation will do your taxes for you st...
Filing status. Prior-year return and the tax return you're inquiring about. Any IRS correspondence you've received (via email or your online account). If you're calling on behalf of someone else or someone who is deceased, you'll need to have a few extra things gathered in addition to...
If you receive a tax refund check for a deceased person, you must return the check to the IRS. Write “VOID” on the back of the check and mail it to the IRS location listed on the enclosed letter. If no letter is included, contact the IRS for further instructions. How Can I Correc...
You may have heard about new tax law that trigger a tax form if you receive more than $600 from any one of these types of platforms. While this rule was put on hold for 2022 and 2023 taxes, a transition threshold of $5,000 is expected to apply for 2024 taxes (2025 filing season)...
Innocent spouse:if you file as MFJ, both individuals are equally responsible for all taxes owed if there is a balance due. This is also called joint and several tax liability as a married filing jointly couple is liable for taxes even if the additional taxes are the result of income, deduc...
But it's only worth claiming them if the total is more than the standard deduction you're entitled to claim for your filing status. Otherwise, you'd be paying tax on more income than you have to.16 The Bottom Line Preparing a tax return and paying any taxes you might owe can certainly...
LLCs are taxed like one of the 4 existing types of business: Sole Proprietorship, Partnership, C-Corporation, & S-Corporation.
If you make more than that amount and still got a payment, the IRS will likely expect you to return all or some of it. However, if you made more in 2020 than you did in 2019 but you get a stimulus check before filing your taxes, you won't be expected to return that money. ...