Florida Probate Tax Checklist

In a Florida Probate case there are many tax issues that need to be considered. Below is a list of the things that should be done immediately.

1) Shortly after the decedent’s death, someone should contact the decedent’s CPA to get general information regarding the status of the decedent’s income and gift tax returns.

    a) Obtain copies of income tax returns for the last 3 years.
    b) Obtain copies of all filed gift tax returns.
    c) Consider having the PR sign an IRS power of attorney (Form 2848 and 2848 Instructions) which is submitted to the IRS. This will allow the Florida Probate Attorney to talk with the IRS and obtain information regarding the status of the decedent’s federal income taxes and returns. This form can be faxed to the IRS at 866-860-4259

2) the Estimated estate tax liability if any needs to be dealt with immediately. Raise cash for estimated estate tax, debts, and administration expenses.

3)File Form 56 for

a) Decedent’s income tax.
b) Decedent’s Estate, Generation-skipping and gift taxes

4) Consider whether it is necessary to file extensions for decedent’s prior year gift and income tax returns. NOTE an extension does not extend the due date for tax remittance.

5) Retirement plan (IRA) minimum distribution for the year of death. IRC 401(a)(9) and 408(a)(6).

6) If PR is not going to take a PR fee, file a Waiver of Commission in court probate file. See. Rev. Rul. 66-167

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