Posts Tagged ‘Form 1041’


Where’s My K-1?

 

This question is asked frequently during tax season.

I suspect it will be asked even more this tax season.

There will likely be even more delays this year than in past years. Congress passed The American Taxpayer Relief Act of 2012 on the last day of 2012. President Obama signed this legislation on January 2, 2013. This has delayed the IRS, which will delay tax preparers.


7 Easy Steps to Manage an Estate in Connecticut

Please review 6 Easy Steps to Open an Estate in Connecticut.

 1) Post a Probate Bond

 

Unless the will specifically indicates a bond is not required, the executor will need to get a Probate Bond. The coverage and insurance premium will be based on the expected size of the estate. The executor may have to front the money to get the bond as the estate checking account may not have been open yet.

  


6 Easy Steps to Open an Estate in Connecticut

 

1) Go to Probate Court and Get Your Appointment

A decedent will list their executor (or executrix) in their will.  If the decedent did not name one or did not have a will, the court will appoint someone to manage the affairs of the estate.

 

This person will be known as an administrator or adminstratrix. The appointment will allow you to manage the affairs of the estate.  Keep in mind the entire process will be overseen by the … Continue reading »


How to Give a Power of Attorney to Your CPA to Deal With the IRS

Today’s routine is similar to many other days until you started opening your mail.  In today’s mail is a notice that you are being audited by the IRS. Now what do you do?  Give your CPA a Power of Attorney.


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