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I have a client whom was Deceased 12/13/2023, I did a tax return for him for 2023. His kids are now getting and IRS notice stating he should have done a 2024 tax return. Looking into this further the kids did not take his name off of the Wells Fargo Consolidated 1099 and they did receive a 1099 with interest income on this statement (with his name still on it). Of course this went to the IRS and they want a tax return done. How should I proceed???
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Dead men tell not tales ------------------ and don't file tax returns. Get a tax ID number for the estate. Prepare an estate return. If the accounts are still in dad's name, pay the tax due on the estate return. Write a letter to the IRS in response to the notice and include the estate return with the explanation of - oops, my clients have no clue what they are doing.
Slava Ukraini!
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Thanks Iron Man!!!
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Someone was getting that income. No one filed the 1099 info on their own taxes? Because you can reply that it was filed on XXX tax return. Or, they thought no one would notice?
Don't yell at us; we're volunteers
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This does not pass the smell test. 2024 filing season has not even ended, for those who filed extensions. IRS is not sending any notices yet, for underreported income. What exactly did "his kids" receive? How would IRS even know where to send the notice? Did someone apply for an EIN for the estate and the IRS notice when it was issued, as they all do, told them to file a Form 1041? Does an IRS notice apply to the 2023 return?
