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What Tax Returns May be Required When Someone Dies?

filed in tax returns on Jul.08, 2010

You have likely heard the expression that only two things in life are certain, death and taxes. Our practice combines the two as we prepare the returns for decedents for the year of death and often times, years thereafter. Following is a brief discussion of what returns may be required when someone dies.
Final income tax [...]

Tags: administrative trust, allowable basis adjustments, annual exclusion, April 15 2011, Arizona tax, Casa Grande Tax, death, Estate tax return, estimated payments, executor, federal tax, fiduciary income tax return, final income tax return, Form 1040, Form 1041, Form 706, Form 709, gift tax return, informational return, IRS, local tax, probate assets, Refund, revocable trust, Scottsdale Tax, state tax, tax implications, tax return, Tempe Tax

What’s the IRS’ Perspective on 2010 Estate and Gift Tax?

filed in Estate on Jun.08, 2010

I recently attended a breakfast during which Wesley Scott, with the Office of Chief, Estate and Gift Tax Program at the Internal Revenue Service spoke on this topic. He began his presentation by noting that he could not comment on what’s happening with the legislature because he is part of the executive branch. The IRS [...]

Tags: adjusted basis, allocation, Arizona estate trust and gift services, assets, capital loss carryovers, Casa Grande estate trust and gift services, death, deceased, Estate and Gift Tax, estate or generation skipping tax, executor, fair market value, generation skipping tax, information return, Internal Revenue Service, IRS, lifetime expemption, net operating losses, property, revocable trust, Scottsdale estate trust and gift services, Tempe estate trust and gift services, trustee

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There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.
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Entries Tagged ‘executor’:

What Tax Returns May be Required When Someone Dies?

What’s the IRS’ Perspective on 2010 Estate and Gift Tax?

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