IRS Form You Might Need to File if You Handle a Relative’s Estate
If you are the executor of an estate, you may be responsible for filing IRS Form 5495 and IRS Form 4810. These forms are used to request a discharge from personal liability for the decedent's income, gift, and estate taxes.
IRS Form 5495
IRS Form 5495 is a request for discharge from personal liability for a decedent's income and gift taxes. This form can be filed by the executor of the estate or by the trustee of a decedent's trust.
To qualify for a discharge under Form 5495, the executor or trustee must meet all of the following requirements:
IRS Form 4810 is a request for prompt assessment of a decedent's income, gift, and estate taxes. This form can be filed by the executor of the estate or by the trustee of a decedent's trust.
Filing Form 4810 will shorten the statute of limitations on the decedent's taxes from three years to eighteen months. This means that the IRS will have eighteen months from the date of filing to assess any additional taxes that are due.
To qualify for a prompt assessment under Form 4810, the executor or trustee must meet all of the following requirements:
IRS Form 5495 and IRS Form 4810 can be filed electronically or by paper. If you are filing electronically, you can use the IRS's Free File program. If you are filing by paper, you can download the forms from the IRS website.
Once you have filed the forms, the IRS will review your request and notify you of its decision. If your request is approved, you will be discharged from personal liability for the decedent's taxes.
We can help you file IRS Form 5495 or IRS Form 4810 if you are handling an estate of a relative.
IRS Form 5495
IRS Form 5495 is a request for discharge from personal liability for a decedent's income and gift taxes. This form can be filed by the executor of the estate or by the trustee of a decedent's trust.
To qualify for a discharge under Form 5495, the executor or trustee must meet all of the following requirements:
- The executor or trustee must have filed all of the decedent's income and gift tax returns.
- The executor or trustee must have paid all of the decedent's income and gift taxes that are due.
- The executor or trustee must not have been a party to any fraud or misrepresentation that led to the decedent's unpaid taxes.
IRS Form 4810 is a request for prompt assessment of a decedent's income, gift, and estate taxes. This form can be filed by the executor of the estate or by the trustee of a decedent's trust.
Filing Form 4810 will shorten the statute of limitations on the decedent's taxes from three years to eighteen months. This means that the IRS will have eighteen months from the date of filing to assess any additional taxes that are due.
To qualify for a prompt assessment under Form 4810, the executor or trustee must meet all of the following requirements:
- The executor or trustee must have filed all of the decedent's income and gift tax returns.
- The executor or trustee must have paid all of the decedent's income and gift taxes that are due.
- The executor or trustee must not have been a party to any fraud or misrepresentation that led to the decedent's unpaid taxes.
IRS Form 5495 and IRS Form 4810 can be filed electronically or by paper. If you are filing electronically, you can use the IRS's Free File program. If you are filing by paper, you can download the forms from the IRS website.
Once you have filed the forms, the IRS will review your request and notify you of its decision. If your request is approved, you will be discharged from personal liability for the decedent's taxes.
We can help you file IRS Form 5495 or IRS Form 4810 if you are handling an estate of a relative.