When a family member passes away, you’ll have a lot on your plate as you handle their estate. One of your financial concerns: filing any lingering tax paperwork for the deceased. In addition to a standard form 1040—the decedent’s final tax return, reporting income up to the date of death—you may need to file a form 1041, the federal estate tax return that reports income related to sales of the decedent’s assets. You’ll also likely need to have the fair market value of remaining assets calculated for estate purposes.
This can be a lot to take on when you’re already grieving the loss of a loved one. For expert tax help during this difficult time, turn to the pros at Taxation Solutions, Inc. We’re Austin’s trusted tax resolution specialists, well versed in all sorts of tax matters. We’ll help you in gathering paperwork, submitting everything to the IRS in a timely fashion, and dealing with any issues that may arise. We’re committed to helping our clients avoid further tax problems. Accuracy and professionalism are our top priorities. To learn more, contact Taxation Solutions, Inc. today.