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 the above, including verbal/written authorization, a valid Form 8821 or Form 2848, and relevant paperwork such as a death certificate or court letter [2...
Some tax issues will require professional advice but the site is an excellent tax law resource for those in need of quick answers. You'll see topics ranging from "How Do I File a Deceased Person's Tax Return?" to "Is My Residential Rental Income Taxable and/or Are My Expenses Deductible?
The dependent definition is fairly simple in many every day cases: it’s a person who relies on another taxpayer for financial support. But, when you’re talking about taxes and a tax dependent, the person must meet specific requirements. We’ll cover the details throughout this post. So,...
The form starts with a “yes” or “no” question about whether your business is both an “applicable corporation” for purposes of the Corporate Alternative Minimum Tax (CAMT) and an “applicable taxpayer” for purposes of the Base Erosion Anti-Abuse Tax (BEAT). These are generally ...
B) If you are *** then you have entered a deceased date for you of 8/6/2022. If you wish to do this for your deceased spouse please do this in the spouse section. Click onName & Addresson the left and change this at the top and add this in the lower section....
If you filed an amended return, it may take 10-12 weeks for the IRS to process it. The IRS does not track amended returns on their "Where's My Refund?" tool, but you can check the status using the IRS amendment status tool. If it has been more than 16 weeks without receiving your...
Form 1040 isn't as long as it used to be, thanks to a few new schedules. This article provides guidance for filling out Schedule 3 and explains which taxpayers may need to use it.
Probate is the legal process by which a deceased person’s assets are categorized and distributed to his heirs and creditors. When a person dies with assets, a personal representative of the decedent (either the executor or a person who wishes to become the administrator) should open a probate...
What Happens if a Deceased Person Owes Taxes? Personal Finance What Is a Fiduciary Income Tax Return? Personal Finance How to Write a Letter to Creditors When Someone Dies Form 56 and Bankruptcy A trustee in bankruptcy is another type of fiduciary, since this person is in a position of confi...
As the IRS notes, for nine out of ten tax filers it takes a maximum of 21 days to receive a tax refund (when eligible) after their tax return has been accepted. But this is still just an estimate based on past IRS refund schedules and not a guarantee. Fu