Death and tax obligations
Generally, after an individual has passed away, someone will become responsible to ensure that the the final income tax return and any other un-filed tax returns are filed with the IRS and the Department of Revenue and that all matters related to taxes are addressed. This person may be an executor, an administrator or one of the decedent’s family members.
After a loved one has passed away, you may find yourself dealing with their final matters related to tax returns, taxes due or refunds. If you do not properly address these matters, you may be held legally and financially responsible to the IRS, the Department of Revenue and to beneficiaries. If you need guidance regarding these matters you should consult with a professional.
A man chose his long-time friend to be the executor of his estate. After the man passed away, his friend assumed the executor role overseeing the man’s estate. Accordingly, he “stepped into the shoes” of the decedent and was now responsible to prepare and file the man’s final tax returns and any other tax returns that had not already been filed. He contacted the IRS on his own and was given conflicting information. Failing to honor these tax obligations may make him responsible to the IRS and the decedent’s beneficiaries. Attorney Gregory Dzialo guided him through the process to increase the likelihood that he will meet his duties as executor.