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Odoni Partners LLC - Certified Public Accountants > News > Accounting > Filing Taxes for a Deceased Person: Short Guide
  • Dante Odoni, CPA
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Depending on the circumstances, filing taxes for a deceased person can be complicated and emotionally exhausting. This is why it’s important to have the right information at the beginning of your journey.

If you are reading this article because you are responsible for filing taxes for a deceased loved one, our experts at Odoni Partners LLC can help you navigate the process.

Check the Deceased’s Tax Records

The first thing you’ll want to do is check the deceased’s tax records for the year of death. This information will give you an idea of what type of return you need to file.

If the deceased had a final tax return on file, that is the one you will need to submit. If there was no final return, or if the estate is still open, you will need to file a final return for the individual.

Compile Important Information

Now that you know which return you need to file, it’s time to compile the information you need to complete it. This includes income, deductions, and credits from the deceased’s final year.

If you’re the deceased’s beneficiary and received a part of their income or assets after their death, then your tax return may be affected. There are, however, some cases that allow you to exclude the assets or income from your tax return. A certified public accountant can help you determine whether this applies to your situation.

File the Deceased’s Taxes

Once you have all of the information together, you can file the deceased’s taxes, which can include:

  • Federal income tax
  • State tax
  • Local/city tax
  • Business tax
  • Self-employment tax
  • Gift tax
  • Generation-skipping transfer tax

We understand that filing taxes for a deceased person can be overwhelming. If you need help, our certified accountant in Naperville, IL, can cover every base and guarantee a smooth process.

Complete Estate Tax Returns

If the deceased was married and had an estate that exceeded $11 million at the time of death, or if they died without a will (intestate), you will also need to file an estate tax form.

This tax return requires all sorts of information about any property passed to other people after the date of death, including names, ages, and social security numbers. If you have to file these returns, we generally recommend consulting with a tax professional because the process can be very complicated.

Pay Owed Taxes

It’s important to pay taxes as soon as possible to avoid penalties and interest. If you are a surviving spouse, you may be able to take advantage of the joint and survivor filing status.

This allows you to file as married for a tax year by including your spouse’s income on your return. Depending on your financial situation, this may result in lower taxes.

At Odoni Partners LLC, we strive to provide expert accounting advice and information for all of our clients. From accounting terms for business owners to the basics of estate tax filing, we have you covered. If you need assistance filing taxes for a deceased, please don’t hesitate to reach out to us.