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How Do I File As An Executor or Personal Representative?

If you are appointed to be the executor or personal representative of a decedent's estate, you should be aware of your responsibilities and liabilities connected with that position. You will have a responsibility to the estate and its beneficiaries to collect and safeguard the assets of the estate, pay the debts of the decedent, and carry out the administration of the estate in accordance with the deceased's wishes, as well as federal and state laws. This may include the filing of an estate tax return, as well as income tax returns for income earned by the estate during administration.

Depending on the size and complexity of the estate, you may need to engage legal and/or tax professionals to assist you. This is especially true if the estate is large enough to be subject to federal estate taxes, since the law holds the executor or personal representative PERSONALLY responsible for this tax if distributions are made to beneficiaries and the estate is then unable to pay the tax.

IRS Publication 559 provides basic information on estate administration and required tax filings. It can be obtained by calling 1-800-TAX-FORM.

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We do not offer legal advice. All information provided on this website is for informational purposes only and is not a substitute for proper legal advice. If you have legal questions, we recommend that you seek the advice of legal professionals.

Tax Disclaimer: To ensure compliance with IRS Rules, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer under the Internal Revenue Code, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.

Copyright 2017 Wink Tax Services / Wink Inc.
Last modified: January 30, 2017