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Does an executor of a Will need to file taxes if the deceased received only social security?
If the decedent was not required to file a return then the executor is not really required to file that return. As an executor, I would suggest that you do file a tax return just so that you cannot be questioned by heirs latter for not doing so. It would not be very expensive to file the return, and it could save you lots of problems down the road.
What else can I help you with?
Are the fees for being an executor of an estate subject to social security tax?
No, the fees for being an executor of an estate are not subject to Social Security tax. Executor fees are considered self-employment income, which may be subject to income tax, but they do not fall under the category of wages that are subject to Social Security taxes. Executors should report these fees on their tax returns, but they will not incur Social Security tax liabilities on them.
What does SS on check stub?
The "SS" on a check stub typically stands for "Social Security," referring to the amount withheld from an employee's paycheck for Social Security taxes. This deduction contributes to the federal Social Security program, which provides benefits for retirees, disabled individuals, and survivors of deceased workers. The check stub will usually show the total earnings, the amount withheld for Social Security, and other deductions.
What are social security taxes used for?
Social Security taxes are primarily used to fund the Social Security program, which provides financial assistance to retirees, disabled individuals, and survivors of deceased workers. These taxes help ensure that beneficiaries receive monthly payments to support their livelihoods. Additionally, a portion of the funds is allocated to Medicare, which offers health insurance to seniors and certain disabled individuals. Overall, Social Security taxes contribute to a safety net for millions of Americans.
How do I get a 1099 for earning from SSA for 2012?
These forms are called 1099-SSA and are mailed to Social Security recipients in January of the year following when they received the payments. If you cannot locate this you can request a copy from the Social Security Administration.
Why do we pay Social Security taxes?
We pay Social Security taxes to fund the Social Security program, which provides financial support to retirees, disabled individuals, and survivors of deceased workers. These taxes help ensure a safety net for millions of Americans, contributing to economic stability and reducing poverty among the elderly and vulnerable populations. The program operates on a pay-as-you-go basis, meaning current workers' contributions support current beneficiaries. Ultimately, it promotes intergenerational solidarity by providing a measure of income security for those in need.
How can I legally obtain a deceased person's social security number?
It is illegal to obtain a deceased person's Social Security number without proper authorization. You can request this information through the Social Security Administration or by contacting the deceased person's estate executor or legal representative.
How can I obtain my deceased parent's Social Security number?
To obtain your deceased parent's Social Security number, you can request a copy of their Social Security Administration (SSA) record by submitting a form called "Request for Deceased Individual's Social Security Record" (Form SSA-711). You will need to provide proof of death and your relationship to the deceased parent.
How do you find out a social security number by name?
how to find deceased social security number
Can social security claim money from deceased father after one year?
Yes, social security money can be claimed from a deceased father after one year.
Are the fees for being an executor of an estate subject to social security tax?
No, the fees for being an executor of an estate are not subject to Social Security tax. Executor fees are considered self-employment income, which may be subject to income tax, but they do not fall under the category of wages that are subject to Social Security taxes. Executors should report these fees on their tax returns, but they will not incur Social Security tax liabilities on them.
How can I find the social security number of a deceased parent?
To find the social security number of a deceased parent, you can request a copy of their death certificate from the vital records office in the state where they passed away. The social security number may be listed on the death certificate. You can also contact the Social Security Administration and provide proof of your relationship to the deceased parent to request their social security number.
Social security benefits for children with a deceased parent?
yes the children with deceased parents get social security benefit's. but only if the parents were workers in the US.
Are executor fees subject to social security?
Executor fees are generally considered taxable income, but they are not subject to Social Security taxes. Since executor fees are reported as self-employment income, they are subject to income tax but not to Social Security and Medicare taxes. However, it's important for executors to consult with a tax professional to understand their specific tax obligations.
How can you check SS number for a deceased person?
You can check the Social Security Death Index (SSDI) database to verify whether a Social Security number belongs to a deceased person. This database is maintained by the Social Security Administration and is publicly accessible.
Is the executor required to reveal his Social Security number when liquidating estate holdings?
No, they should not be required to provide their SSN. Estate holdings should be liquidated using the Estate's tax number. If there isn't one, then the executor is slipping up. Worst case would be to use the SSN of the deceased. Transactions have to be associated with a tax number. * The executor/executrix/administrator of the estate (whatever the title) is required to supply his or her SSN as well as that of the deceased or the TID when making a claim for the deceased estate with an insurance company and other such matters.
What is the meaning of an executor and responsibility?
An executor is the e person who is responsible for settling the details of a deceased person's estate. There can be a single executor or one or more people charged with this job. An executor can be related to the deceased person, can be a friend or a lawyer, accountant, or other professional. The main requirement is that the person chosen as executor be at least 18 years old and have not been convicted of a felony. If you have been named the executor of someone's estate, you have been given a job of great responsibility. Some of these responsibilities include: paying creditors and taxes on the estate, notifying social security and other agencies of the deceased death, canceling credit cards among other things, and distributing the assets left in the estate.The executor of an estate has tremendous responsibility from small tasks to large ones. the executor of the deceased's estate must make sure all of the deceased's taxes and debts are paid, and then distribute what is left to the appropriate beneficiaries. The executor has a "fiduciary duty" to act in a manner of good faith and impartiality in making sure the wishes of the deceased are carried out to whatever extent possible
Have you received a social security alert from Discover?
Yes, have you received a social security alert from Discover?
