Taxes

[steve dave]

ok, nothing here private or anything so just posting instead of IM'ing. Talked to my CPA who I love like my own mother. Their advice is as follows:

1) never call the IRS for anything no matter what. they not only don't know what they are doing but they will waste your time pretending like they do and make stuff worse.
2) if you have their name, address, and SSN there is some form you can file to get that extension but I'm guessing you don't have that SSN
3) are you confident they even needed to file taxes? sounds like maybe they weren't scrooge mcduck. may not have to do anything.
4) if you believe they would have had to file and don't have the info required just do nothing right now. you can file it late but the penalty will be minimal and you should document that they are deceased and the situation when doing so and could get a pass.

[Stupid Fitz]

ok, nothing here private or anything so just posting instead of IM'ing. Talked to my CPA who I love like my own mother. Their advice is as follows:

1) never call the IRS for anything no matter what. they not only don't know what they are doing but they will waste your time pretending like they do and make stuff worse.
2) if you have their name, address, and SSN there is some form you can file to get that extension but I'm guessing you don't have that SSN
3) are you confident they even needed to file taxes? sounds like maybe they weren't scrooge mcduck. may not have to do anything.
4) if you believe they would have had to file and don't have the info required just do nothing right now. you can file it late but the penalty will be minimal and you should document that they are deceased and the situation when doing so and could get a pass.

Thanks SD, give your accountant a kiss from me and tell her thank you. Option 4 is really my only option. The form you are referring to in 2) requires info like "estimated taxes owed" and other stuff I don't have. I've tried to fill out that form 10 times and I can't ever submit it anywhere because info is missing and I don't want to make stuff up. It is what it is at this point.

[Spracne]

ok, nothing here private or anything so just posting instead of IM'ing. Talked to my CPA who I love like my own mother. Their advice is as follows:

1) never call the IRS for anything no matter what. they not only don't know what they are doing but they will waste your time pretending like they do and make stuff worse.
2) if you have their name, address, and SSN there is some form you can file to get that extension but I'm guessing you don't have that SSN
3) are you confident they even needed to file taxes? sounds like maybe they weren't scrooge mcduck. may not have to do anything.
4) if you believe they would have had to file and don't have the info required just do nothing right now. you can file it late but the penalty will be minimal and you should document that they are deceased and the situation when doing so and could get a pass.

Thanks SD, give your accountant a kiss from me and tell her thank you. Option 4 is really my only option. The form you are referring to in 2) requires info like "estimated taxes owed" and other stuff I don't have. I've tried to fill out that form 10 times and I can't ever submit it anywhere because info is missing and I don't want to make stuff up. It is what it is at this point.

Might be worth it to file an extension. This is not legal advice, but you can just estimate it. If you're too far off, you can make up the difference later. If you have an idea how much he "earned" last year, you can just look at the tax tables and multiply by .22, for example (talking federal taxes, here).

[Stupid Fitz]

ok, nothing here private or anything so just posting instead of IM'ing. Talked to my CPA who I love like my own mother. Their advice is as follows:

1) never call the IRS for anything no matter what. they not only don't know what they are doing but they will waste your time pretending like they do and make stuff worse.
2) if you have their name, address, and SSN there is some form you can file to get that extension but I'm guessing you don't have that SSN
3) are you confident they even needed to file taxes? sounds like maybe they weren't scrooge mcduck. may not have to do anything.
4) if you believe they would have had to file and don't have the info required just do nothing right now. you can file it late but the penalty will be minimal and you should document that they are deceased and the situation when doing so and could get a pass.

Thanks SD, give your accountant a kiss from me and tell her thank you. Option 4 is really my only option. The form you are referring to in 2) requires info like "estimated taxes owed" and other stuff I don't have. I've tried to fill out that form 10 times and I can't ever submit it anywhere because info is missing and I don't want to make stuff up. It is what it is at this point.

Might be worth it to file an extension. This is not legal advice, but you can just estimate it. If you're too far off, you can make up the difference later. If you have an idea how much he "earned" last year, you can just look at the tax tables and multiply by .22, for example (talking federal taxes, here).

yeah, i've sort of tried that. One of the free government tax providers is something called "Tax Slayer" and I got through most everything by basically putting zeros in and when I hit submit, it told me that I wasn't eligible to submit it through them and I about lost it. Thanks for the advice, but i'm sticking with option 4 and if the IRS wants to come after the small estate of a dead person, so be it.

[star seed 7]

This is why I plan to die with as much debt as possible and zero estate

[Spracne]

This is why I plan to die with as much debt as possible and zero estate

Spoken like a true boomer.

[star seed 7]

This plan was suggested to me by the boomer executor of my "estate"

[wetwillie]

What’s your target debt load? Can you run that bitch up to 3M?

[star seed 7]

Lol absolutely not. Maybe $100k if I really go all out. Obviously one of the challenges is not adding estate value, though I suppose it doesn't matter because it's all getting confiscated anyway.

[star seed 7]

Oh, boa wants to loan me a bunch of money to go on a month long euro trip? Thanks but you're never getting that money back ahahahaha

It's a little bit the wackycat with student loans approach.

[wetwillie]

The lending environment has shifted quite a bit in the past year. I bet you could have done 300k 12-18 months ago but it’s a lot tighter now.

[Spracne]

Oh, boa wants to loan me a bunch of money to go on a month long euro trip? Thanks but you're never getting that money back ahahahaha

It's a little bit the wackycat with student loans approach.

eff 'em, I say.

[star seed 7]

Well wetwillie, circumstances have changed pretty dramatically for 'ol seven in the past 12 months.

[star seed 7]

Also I don't know if I actually have the moral failings to pull this off.

[wetwillie]

Well wetwillie, circumstances have changed pretty dramatically for 'ol seven in the past 12 months.

Yea sorry buddy


I hope you get to go mid 90’s Jordan on the BOA and the like

[star seed 7]

Idea: enrolling at kats for student loans

[star seed 7]

Probably needs it's own thread to really get the gE hive brain working

[Dugout DickStone]

The lending environment has shifted quite a bit in the past year. I bet you could have done 300k 12-18 months ago but it’s a lot tighter now.

banks will get all slutty again