Professor McCouch describes a tax collector’s nightmare and whimsically calls it “the problem of disappearing income”. The scenario is as follows: The decedent, who uses
First off, “in respect of” is a bit archaic. IRD is simply ‘income concerning a decedent’. To recap, an individual’s taxable year ends with her
In short, they are qualified to allow an election between making them part of the estate or have them be their own taxable entity. To
We have discussed Income with Respect to a Decedent (IRD) at length, see for example What counts as Income in Respect to a Decedent? IRD
If a married couple has an AB Trust estate plan when the first spouse dies, an amount equal to the federal estate tax exemption will
The IRS requires the filing of an income tax return for trusts and estates on Form 1041 — formerly known as the fiduciary income tax
We don’t spam! No more than five mailings per year.
