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RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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Once the final 1041 for an estate is processed by the IRS,

Resolved Question:

Once the final 1041 for an estate is processed by the IRS, will the IRS automatically remit any balance/credit/overpayment to the personal representive? Or will the rep have to file a form (1310?) to accomplish the request?
Submitted: 6 years ago.
Category: Tax
Expert:  RD replied 6 years ago.

Is this refund on final income tax return of the decedent or Form 1040?

Customer: replied 6 years ago.

This is for the final (second of two) 1041 return for the decedent's estate income. The final 1040 was done back in 2008 for tax year 2007.

Expert:  RD replied 6 years ago.

Since you are the personal representative, you do not need to file Form 1310 to claim the refund.

 

 

Let me know if you have any question.

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

Customer: replied 6 years ago.

Thanks for trying but the response doesn't really answer the question (how to get what's left to the credit of the decedent).

Thanks.

Expert:  RD replied 6 years ago.

Any refund due to the decedent will be refunded to the personal representative. Refund due to the decedent is based on the Form 1040 filed for the decedent.

 

Any excess tax payment made on Form 1041 will be refunded when the Form 1041s are filed for the respective years.

 

 

Let me know if you have any question.

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

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