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| *Loan,banking and credit>>>income tax |
If a person dies, does the family still have to file income taxes? |
If a person dies, does the family still have to file income taxes? If the deceased had any income, he (via his estate) has to pay income tax like any living person. And if his estate is worth more than the statutory limit for the state where he lives, he will probably be hit with estate taxes. Estates must obtain tax numbers (EIN numbers) like individuals obtain Social Security numbers. Uncle Sam takes from the living AND the dead, and most of it seems to be going into the pockets of our government leaders for their huge salaries and perks and retirement benefits in exchange for a few months of "work". Too bad we can't get some of our money back when THEY die.Yes. It's called a "final" return. Both Federal and State must be filed. I believe the State return is filed in the State where the deceased last resided. Tax money may be owed to the deceased Estate. duh |
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