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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 6182
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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A client paid me for the preparation of a 2012 1040. The funds

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A client paid me for the preparation of a 2012 1040. The funds were paid out of an estate. If a refund is due, it would be appropriate for me to issue a check to the estate, correct? What I'm afraid of is that the client wants to use any overage for his personal return.
Submitted: 4 years ago.
Category: Tax
Expert:  Stephen G. replied 4 years ago.

Stephen G :

Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything that is not clear.

Stephen G :

Hi Chris...........Whose 1040 were you paid for the decedent's final return?

Stephen G :

If your client is the beneficiary of the estate and he wants to use the overage to pay for your work on his personal return, then there's no problem. If he isn't the only beneficiary, then there may be an ethical issue & yes the estate should receive any overpayment from you. However, my comments are based upon there being significant $ involved, so I would want to know the facts before making a specific comment on what I would do.

Customer:

I just wrote my reply and now it disappeared

Customer:

I was paid $ 625 for a return I will probably charge $ 175 for. Very simple. He is not the only beneficiary.

Customer:

Hi Steve!

Customer:

Yes, I was paid for the decedent's final return.

Stephen G :

So you won't have to do a fiduciary return?

Stephen G :

If not then you were correct in what you should do; I guess the question would be what did you think you were accepting the check for in the first place?

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Expert:  Stephen G. replied 4 years ago.

As a final comment, I don't think you can really be sure that the decedent's final return is accurate without either preparing or having the detail behind the fiduciary income tax return. So as a minimum you should be able to review the fiduciary return and have access to the preparer.
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