Evaluate your tax situation

How much does the IRS say you owe?

$0
$125,000 $250,000
$0
$125,000 $250,000
Do you have unfiled tax returns?
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Evaluate your tax situation

By evaluating your tax situation, you can identify areas where you may be able to reduce your tax burden.

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When someone passes away, it can be hard to know what happens with their property. Many people aren’t sure if they owe back taxes if the family is responsible for them or not. Many of the tax professionals in the area make it easier for families to know what to do when it comes to their taxes.

Learn How to Establish How Much Tax is Owed

You cannot simply go by what the IRS claims that the person owes in taxes. A tax relief professional in Raleigh, NC can help you know what steps to take to determine how much taxes are really owed. They may be able to help you find deductions for the person to lessen the amount.

How Are Taxes Paid?

If money is owed, it’s hard to determine if anyone is responsible to pay for it. Before the assets of the person can be divided, all taxes have to be paid. The average income in Raleigh, NC is a little over $30,000. This means there is a chance that the estate may not cover the amount owed. If the estate cannot cover the cost, that is owed, the remaining balance is transferred. Typically, when someone passes, anyone who cosigned on an agreement with them will be responsible to pay remaining debts. The family typically doesn’t have to pay off the remaining debt that the estate doesn’t cover.