Father passed away 9-15-06. Will we need to put in a tax return for him this year, or do we just leave it alon

Question

Serious answers appreciated please. Thank you.

Answer 1

I'm sorry about your loss.
You will have a better idea about filing a tax return once you receive all of the tax forms in January. Even if a return is not needed it is often suggested that a return be filed so that the statute of limitations will run out. Otherwise that tax year will never close. Also, you didn't mention if your father was married, but that can also change the facts. The 1040 is still due the regular time (but I would get help for what info should be on the 1040, etc.) If more than $600 is received after he died a Form 1041 will need to be filed. That is when you would need to obtain an EIN.
If you haven't consulted an attorney I would recommend it. The attorney may offer to do the tax return, but that's not necessary. I would go see either an enrolled agent or a CPA that does taxes (not all CPA's do taxes) to help with the final return. They will charge a lot less to do the tax return than an attorney will.

Answer 2

If he had any income for the year, yes.. You will need to file a final filing with the IRS. It would be best to have an agency such as H&R Block or a regular tax preparer to handle it.

You will have to open an new tax ID for your father. By the end of the year, you will need to make sure all his bank accounts are closed so there is not interest in 2007 or you will need to file one for 2007 as well

Answer 3

You might have two returns to file - one for him and one for his estate. So far as his personal return is concerned, one must be filed if he meets the filing requirements. Working full-time or receiving a full social security pension would probably mean that one must be filed.
As for the estate, you can either file on a calendar year basis or for the period up to the end of the month preceding your father's death, in this case 8.30.07. Depending on the complexity of the estate, it might be worth running the estate's income through to next August.
I think it is essential that you engage a CPA (and an attorney if the estate warrants it) unless you know exactly what you are doing.

Answer 4

yes u need to sort out ur father tax return this year or you will end up hard times with the tax people. I am sorry to hear about your father pass away.

Answer 5

If you get a program like turbotax there is a box to check that says the person died this year. It will walk you through all the appropriate forms you need to file.

Just make sure to screen his mail for anything that says "important tax info"

Plus you will want to make sure you look through the mail carefully for bank statements or other things that you might not know he had.

Sorry about your loss.

Answer 6

Yes, you must have a final tax return prepared for your father.

Answer 7

We went through this last tax season for my deceased mother-in-law. As the others have said, you do need to file taxes for the deceased person, however, you do not have to do their taxes.... I strongly suggest taking them to a tax prep service.

Answer 8

Please allow me to answer it for with some free advice. I too lost my dad back in 1996 and we had to put everything in order. My best recommendation is to consult with his accountant, since he is the one who knew your dad for a long time, and have him (the c.p.a.) to fill a tax return and also the accountant must advise that your dad is dead.


Good luck, and I am sorry to hear about your dad. How old was he when he died?

Vote for me, please

Answer 9

I am sorry about your father. The taxman wants the forms, if you do nothing you could get involved with some nasty problems with the IRS. Get in touch with them as one source of just exactly you have to do.

Answer 10

Two returns actually. one for personal for the portion of the year he was alive and one for the estate for the other portion of the year.