Handling a Decedent’s Final Federal Income Tax Return, Estate Income Tax Returns, and Postmortem Elections

By on    Black Family  

Handling a Decedent’s Final Federal Income Tax Return, Estate Income Tax Returns, and Postmortem Elections

By Brian Figeroux, Esq. When an individual passes away, their financial and tax obligations do not automatically disappear. Instead, various tax returns must be filed to ensure compliance with federal tax laws. The process involves handling the decedent’s final federal income tax return, the estate’s income tax returns, and evaluating postmortem tax elections that can […]

The Tax Issue of Innocent Spouse Relief: Retroactivity and Implications

By on    Black Love  

The Tax Issue of Innocent Spouse Relief: Retroactivity and Implications

By Brian Figeroux, Esq. | Editorial Credit: sirtravelalot/ shutterstock.com  The tax system in the United States recognizes the potential for inequity when one spouse bears undue liability for tax understatements or penalties caused by the other spouse. To address such situations, the Internal Revenue Service (IRS) offers Innocent Spouse Relief, a provision that shields an […]