How does an executor get an employer identification number?

Question

Right now, I am setting up the estate's financial records and bank account and have been told the estate needs an employer identification number. Right now, there may also be a trust involved after the death. The statements, appraisals, and tax forms I have do not all use the same dates or amounts, and I am trying to determine which document should drive the calculation.

Soradin · Accepted Answer

The responsible party can generally apply through the Internal Revenue Service using the estate's legal information. When preparing the return, an estate commonly needs an employer identification number when it opens accounts, receives post death income, or files a fiduciary income tax return. For tax reporting purposes, the estate should not continue using the deceased person's Social Security number for its separate activity. Retain the documents that support the dates, amounts, ownership, and basis, then ask a CPA, enrolled agent, or tax attorney to validate the taxpayer, form, basis, and deadline.

How does an executor get an employer identification number?

Soradin

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