Executor Tax Liability Discharge Form 5495 – Paul Gaulkin CPA

living trust and estate planningThe executor or administrator for a decedent can request a release from personal liability for the decedent’s income and gift taxes by filing Form 5495 (Request for Discharge from Personal Liability Under Internal Revenue Code Section 2204 or 6905).

This request must be in writing and must be filed after the income or gift tax return has been filed with the IRS. After the tax return has been filed, the IRS has nine months to notify the executor of the income and gift taxes that are due. Once the income and gift tax liability has been paid by the executor, the executor is released from personal liability and the IRS must provide receipt to the executor.

About Paul Gaulkin CPA

Paul Gaulkin is a Certified Public Accountant and enrolled with the U.S. Treasury to practice before the IRS. Mr. Gaulkin possesses unique technical knowledge in the process of securing relief for taxpayers nationwide with IRS and State tax problems. With an accounting degree from Florida International University, he is able to transform complex tax and accounting problems into easy to understand solutions.


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