Uncover the Essential Taxes You Must Pay During Probate

Which Taxes Need To Be Paid During Probate?

In accordance with national law, the passing of a taxpayer triggers two primary actions. Firstly, it marks the final year for which the deceased must file an income tax return. Secondly, it establishes a separate entity for tax purposes, commonly referred to as the ‘estate.’ Various federal tax regulations come into play, necessitating the completion […]