she can pay the tax when she files the tax return since the IRS allows her to file jointly in the year her spouse dies. The IRS can audit the estate tax return at any time and canpursue the estate for taxes owed
My thinking about taxes won’t change when I’m 65; I guarantee I’ll care way more about the size of my tax obligation than I will about the size of the font on my 1040. Contact us today for more information or a free consultation! IRS Gives Private Debt Collection Firms More Power...
When someone dies with assets, those assets must be distributed through a process calledprobate. A court-appointed personal representative of the estate (called either theexecutororadministrator, depending upon whether a will exists) will administer the estate. The administration process begins by openin...
In 2017, the Tax Court ruled that members of a law firm organized as a limited liability company and who actively participated in the LLC's operations and in management weren't mere investors and were liable for self-employment taxes. And just last year, the Tax Court decided that limit...