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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
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IRS Death Penalty
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BobKamman
Level 15
04-10-2023
04:55 PM
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Wife died in 2021. Husband was already under hospice care by April 2022 when he found a helpful CPA to prepare the returns. He didn't have the 1099-R for wife's IRA withdrawal so estimated it at $8,000. Helpful CPA puts it on Schedule B with no explanation. Then, helpful CPA sets up automatic quarterly payments even though all of the income is going to medical expenses at nursing home. Taxpayer dies September 14, but the September 15 payment still goes through. Distant relative who reluctantly agreed to administer estate, closes that bank account but doesn't know how to stop next payment. January 15 payment of $2,000 fails, and now IRS assesses $40 penalty for "unacceptable check."
That's why I don't set up 1040-ES auto-pay. But I guess some practitioners figure it only hurts those who die.
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