IRS Form 56 Walkthrough (Notice of Fiduciary Relationship)

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  • เผยแพร่เมื่อ 10 เม.ย. 2023
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    Please feel free to check out our article, where we've written step by step instructions to help you walk through this tax form! www.teachmepersonalfinance.co...
    If you’re looking for tutorials for other IRS Forms that you can file directly through the IRS website, check out our free fillable forms page: www.teachmepersonalfinance.co...
    Address change
    You cannot use IRS Form 56 to notify the IRS of an address change. You must use either IRS Form 8822 or IRS Form 8822-B to do so.
    Find more information in our articles and videos for each change of address form below:
    IRS Form 8822, Change of Address
    Article: www.teachmepersonalfinance.co...
    Video: • IRS Form 8822-B walkth...
    IRS Form 8822-B, Change of Address or Responsible Party - Business
    Article: www.teachmepersonalfinance.co...
    Video: • IRS Form 8822-B walkth...
    Power of attorney or declaration of representative.
    You cannot use IRS Form 56 to notify the IRS of a power of attorney or to declare yourself as the taxpayer's representative. Instead, you must use IRS Form 2848, Power of Attorney, to do so. Find more information in our articles and videos for IRS Form 2848, below.
    IRS Form 2848, Power of Attorney & Declaration of Representative
    Article: www.teachmepersonalfinance.co...
    Video: • IRS Form 2848 walkthro...
    Users will use IRS Form 56 to notify the Internal Revenue Service of any fiduciary relationships they are starting or terminating.
    In a fiduciary relationship, the fiduciary will act as if he or she is the actual taxpayer. This means that the fiduciary has the rights and responsibilities of the actual taxpayer. In contrast, an appointed representative can only perform acts expressly permitted by the taxpayer, and has no responsibilities to act on the taxpayer's behalf without express permission given on IRS Form 2848.

ความคิดเห็น • 89

  • @teachmepersonalfinance2169
    @teachmepersonalfinance2169  ปีที่แล้ว +4

    Please feel free to check out our article, where we've written step by step instructions to help you walk through this tax form! www.teachmepersonalfinance.com/irs-form-56-instructions/

  • @Gigivibe86
    @Gigivibe86 22 วันที่ผ่านมา

    Great breakdown. Thank you!!

  • @psychicbass
    @psychicbass ปีที่แล้ว +2

    Thank you for your explanation...very clear and informative. Glad I came across your channel.

  • @Powernana12
    @Powernana12 5 หลายเดือนก่อน

    Thank you for doing this step by step with explanation 🎉!

  • @Chad-rq7gg
    @Chad-rq7gg 10 หลายเดือนก่อน +2

    Thank you for not complicating this process. Something as simple as articulating the key roles of fiduciary and authorised rep, game changer🎉

  • @Jusbee357
    @Jusbee357 ปีที่แล้ว

    Wow, ty you explained this well

  • @greatone2717
    @greatone2717 2 หลายเดือนก่อน

    Thank you 😊

  • @steveh.9773
    @steveh.9773 7 หลายเดือนก่อน

    Thank you for the helpful video. I do have a question, if you don’t mind: my Dad passed on 04/05/23. Do I file 2023 taxes for him, as well as 2023 taxes on the estate? I assume if a 1099 is for him I would apply that income to his taxes, and if the 1099 is for the estate I would apply that income to the estate taxes?

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  7 หลายเดือนก่อน +1

      You would file 2023 taxes for your father. Generally, the vast majority of people will probably not be subject to estate taxes due to the estate tax exemption (up to $12.92 million for 2023).
      For specific guidance on how to properly account for income items attributable to your father or his estate, you should definitely hire a tax professional. Professional tax preparation and advice are a normal part of estate administration, and the estate should be able to pay the costs. As a fiduciary, you have a responsibility to the estate and its beneficiaries to avoid the costs of improper tax preparation and reporting, so hiring a tax professional is a normal expectation.

    • @steveh.9773
      @steveh.9773 7 หลายเดือนก่อน +1

      Thank you, sir!

  • @hvacstudent967
    @hvacstudent967 11 หลายเดือนก่อน +3

    How do I contact you directly? I'm coming out of Minor status, nunc pro tunc, and learning about custodial accounts that exist between my bank and the big Tres. and my person. I've been told 56-F, some FDIC Forms, a couple of trusts, and a good foundation is what I need to sit down with a series 7 / p. Banker and set things straight. I need a mentor during this process. Also Navy vet here.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  11 หลายเดือนก่อน +1

      Thank you for your service. I am not sure that I can help you here. However, I believe you should start by yourself, learning as much as you can about the accounts on your own. From there, you'll probably develop some clearer questions that will point you in the right direction.
      Some might be legal questions about the trust (what can I do, what can I NOT do, do things change when I reach a certain age, etc.). Some might be financial or tax questions. But the most important questions should probably come to the top in terms of priority...then you should seek help from someone who is licensed and registered to provide that help.
      If you still want to contact me, best bet would probably be to DM me on LinkedIn: Forrest Baumhover

    • @sergiydrabott9487
      @sergiydrabott9487 7 หลายเดือนก่อน +1

      Hi, I'm on the same journey, and yes we need to get educated to a level where we can comprehend what steps to take. Otherwise its pointless to have someone else to do it for you. It slike the awakening, noone can do it for you, you have to realize the process.

    • @QueenIndiaAli
      @QueenIndiaAli 3 หลายเดือนก่อน

      Your best bet is contacting the IRS they are there to assist you lol they are the only ones that know who you are

  • @markplmb
    @markplmb 3 หลายเดือนก่อน

    I am personal rep of an estate and became manager of the person's business last yr when they were placed in hospice care. There are employment taxes still to file for 2023 and the 1040 for 2023. In talking with the IRS on the past due employment tax that a notice was sent on, the IRS agent said to file Form 56. Should I list both the EIN and the Decedent SSN and check all those boxes or do I need to file a separate Form 56 for the 1040 and one for the employment stuff?

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  3 หลายเดือนก่อน

      The instructions are not very clear about filing Form 56 for the same person. However, if you're representing two separate tax entities, then you probably should file one Form 56 for the decedent (with SSN), and a separate form for the decedent's business (with EIN).

    • @markplmb
      @markplmb 3 หลายเดือนก่อน

      @@teachmepersonalfinance2169 Thank you!!

  • @blakebuhlig7573
    @blakebuhlig7573 ปีที่แล้ว +1

    Thanks for the video. As you mention pub. 559 says I have to file two copies, one for the decedent whose TIN is his SSN, and one for his estate which has an EIN. What exactly goes in the "Identifying number" and "Decedent's social security no." fields in each of the 2 forms? There seem to be 3 choices -- my TIN, his SSN/TIN, and the estate EIN -- but it isn't clear to me which of those choices apply to each of the fields in each of the 2 forms.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  ปีที่แล้ว +5

      If I understand your situation correctly, the copy you file on behalf of the decedent will contain his SSN as the identifying number. The estate copy will have the estate's EIN as the identifying number.
      For reference, the following is directly from the form instructions:
      If you are acting for an individual, an individual debtor, or other person whose assets are controlled, the identifying number is the social security number (SSN) or individual taxpayer identification number (ITIN). You don't necessarily need to put the SSN in twice.
      If you are acting for a person other than an individual, the identifying number is the employer identification number (EIN). You would enter the decedent's SSN where stated, then use the EIN in the identifying number field.

    • @hvacstudent967
      @hvacstudent967 11 หลายเดือนก่อน

      @@teachmepersonalfinance2169 :) Thank you.

    • @NTWITHOUT-RECOURSE-d5i
      @NTWITHOUT-RECOURSE-d5i 18 ชั่วโมงที่ผ่านมา

      @@teachmepersonalfinance2169 CAN YOU TELL ME WHERE I CAN READ ABOUT INDIVIDUALS ASSETS ARE CONTROLLED?

  • @user-fl9pm7fq8o
    @user-fl9pm7fq8o 4 หลายเดือนก่อน

    if i have power of attorney for my grandfather do i need to fill this form out?

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  4 หลายเดือนก่อน

      IRS Form 56 allows a fiduciary to act as if he or she is the taxpayer, which might not be what you want. You could consider filing IRS Form 2848, which is the IRS' Power of Attorney form (see below):
      IRS Form 2848, Power of Attorney and Declaration of Representative
      Article: www.teachmepersonalfinance.com/irs-form-2848-instructions/
      Video: th-cam.com/video/VOeWSHKXr1g/w-d-xo.html

  • @user-xr1oh9pd4t
    @user-xr1oh9pd4t 11 หลายเดือนก่อน

    good morning - hope all is well with everyone. which fax number would i use to fax this form 56 to IRS? thank you and have a blessed day

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  11 หลายเดือนก่อน

      The form instructions specify sending your Form 56 to the IRS center where the taxpayer normally files your income tax return, but does not state whether you can fax your completed form there. You may have to contact the IRS office near you to see if you can even fax Form 56 to the IRS, but I highly doubt that you can.

    • @user-xr1oh9pd4t
      @user-xr1oh9pd4t 11 หลายเดือนก่อน

      @@teachmepersonalfinance2169 saw that much and thought maybe there was a direct method, but thank you for your quick reply. have a blessed evening

    • @texasmade2719
      @texasmade2719 2 หลายเดือนก่อน

      ​@@teachmepersonalfinance2169Is there a penalty filing the Form-56 after 90 days establish a Fiduciary relationship with the descendant or when the relationship started without filing a Form 56 and 56-F?
      If there is a penalty is it the same as a Frivolous Penalty or a small fine for late filing.
      I guess what I'm saying is if a 56-F was filled out and filed them there must be a Form 56 on file withing 90 days or it is considered late, correct?

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  2 หลายเดือนก่อน +1

      @@texasmade2719 The form instructions do not indicate any fines related to not filing. But there are multiple non-IRS sites (mostly attorney websites) which state that the IRS often will send a notice of deficiency, which starts the collections process, and which the fiduciary might not receive if the Form 56 is not on file.
      So it becomes much more difficult to stop the collections process if you don’t get a form 56 on file, but I don’t see any specific penalties listed.

    • @texasmade2719
      @texasmade2719 2 หลายเดือนก่อน

      @@teachmepersonalfinance2169 ok thanks very much!

  • @USMCGuerrillaKilla
    @USMCGuerrillaKilla 3 หลายเดือนก่อน

    Curious, if I am doing a from 56, will this effect my previous contracts within the DOD? I am retired 100% disabled.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  2 หลายเดือนก่อน

      It shouldn't. I don't believe that having the IRS recognize someone as a fiduciary on your behalf would jeopardize your VA disability benefits or your DoD pension. Is there something in particular that you've heard or that you're concerned about?

  • @ChannieChauni
    @ChannieChauni ปีที่แล้ว +5

    Form 56 is forever unless you terminate the form.
    Form 2848 nullified when person pass away or unless court documents are appointed.

    • @QueenIndiaAli
      @QueenIndiaAli 3 หลายเดือนก่อน +1

      But, you are a decedent lol the straw man is a dead entity

  • @steveh.9773
    @steveh.9773 5 หลายเดือนก่อน

    Hello, I am the executor of my Dad’s estate. I received an Air Force check of about $400 for his arrears retirement pay. On the W-2 the recipient ID Number field is my SSN. However, the W2 is addressed as:
    Steve Herron
    A/C Johnie Herron RET/DEC
    My question is, is that W-2 for my taxes or for the estate taxes?
    Thank you.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  5 หลายเดือนก่อน

      Good question. Before I answer that, I'll address a point of clarification.
      If your dad was receiving a retirement check, then you should have received Form 1099-R, not W-2. There doesn't appear to be much difference between them, but this is how it impacts you. W-2 pay (employee pay) is subject to FICA taxes (Medicare & Social Security), while Form 1099-R income is not. So I would definitely suggest that you know for sure which type of tax form they sent you, so you don't end up reporting (and paying) taxes that probably shouldn't be paying.
      To your question, it seems that this would be for your taxes. Here's a link to a banker's website that discusses this (substitute VA for Air Force): www.bankersonline.com/qa/va-comp-check-john-doe-ac-frank-doe-ac-mean

    • @steveh.9773
      @steveh.9773 5 หลายเดือนก่อน

      Yes you are right, it is a 1099R. Thank you for the answer and the link.

  • @mubystubuff764
    @mubystubuff764 3 หลายเดือนก่อน

    if executor submitting form to file deceased mothers' final taxes, do I put my mom's address of residence where she lived/died (vs MY EXECUTOR ADDRESS whic is now the address of her estate?). Also, did I understand correctly that I must submit TWO SEPARATE forms: 1 for her final tax filing and 1 as executor of her estate?
    Thanks

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  3 หลายเดือนก่อน +1

      You would enter both your mother's address (estate address) and your address (fiduciary's address).
      You shouldn't have to file a separate Form 56 for your mother's final income tax return: www.irs.gov/individuals/file-the-final-income-tax-returns-of-a-deceased-person.

    • @mubystubuff764
      @mubystubuff764 3 หลายเดือนก่อน

      thank you

  • @privatejustice4704
    @privatejustice4704 6 หลายเดือนก่อน +1

    I am needing information on how to use f56 in traffic court to appoint judge under 1951 Powers of Appointment Act. Can anyone help?

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  6 หลายเดือนก่อน

      This might be more of a legal question than a tax question. I'm not sure that I'm qualified to help you, since I'm not an attorney.

    • @QueenIndiaAli
      @QueenIndiaAli 3 หลายเดือนก่อน +2

      Neither is the attorney he is just a board member lol

  • @tassothomas5186
    @tassothomas5186 4 หลายเดือนก่อน

    Does anyone know how to find out if my Form 56 was received by the IRS? Calling to get a live person at the IRS is nearly impossible.

    • @Nebo888
      @Nebo888 3 หลายเดือนก่อน +5

      When mailing correspondence always mail it certified or registered requiring a return signature and notification of delivery. Especially when correspondence sent to the United States Corporation Democracy or any united States of America Republic office.
      The Post Office Bank (PRIVATE) not to be confused with the Postal Service Corporation (PUBLIC) are two separate jurisdictions.
      Also always affix a physical stamp or stamps to anything you mail. That way it’s under the jurisdiction of the Universal Postal Union aka The UPU.
      The Pitney Bowes machines are metered mail which is mail fraud.

  • @OGKhmerFit
    @OGKhmerFit 4 หลายเดือนก่อน

    I went to IRS center to file Form56 so I can file taxes for my brother as I am his guardian of property. I showed people there the guardianship papers that was awarded by court but still wasn't enough. IRS people sent me to the court for letter of administration, I show court clerk Form 56 and explain the situation, they said I should talk tax people. I don't understand why the awarded guardianship of property is not enough because that paper alone should covered everything from filling taxes to other financial stuffs. now I'm stuck. do I need the letter of administration from the court to file this form with the IRS?

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  4 หลายเดือนก่อน +1

      I'm sorry to hear about your situation. I can only research and tell you what the instructions, publications, or other applicable guidance say. However, there is a person who processes these transactions, and ultimately their interpretation is the one that matters.
      What I can say is that the instructions (or anything that I've been able to find online) are fairly vague on what constitutes acceptable documentation. So the only thing that I can tell you is to try again. You can either try through the same office (and hope that you get a different person, or someone that recognizes your situation), or you can request assistance from the IRS taxpayer advocate service (TAS).
      You can either file IRS Form 911 (see below) or go to the TAS website: www.taxpayeradvocate.irs.gov/
      IRS Form 911, Request for Taxpayer Advocate Service Assistance
      Article: www.teachmepersonalfinance.com/irs-form-911-instructions/
      Video: th-cam.com/video/lQ7ULmVQjUA/w-d-xo.html

    • @OGKhmerFit
      @OGKhmerFit 4 หลายเดือนก่อน

      thanks for your response. I will try again to see if I can get a different answer. if not then I go with Form 911 route. Thanks again. @@teachmepersonalfinance2169

  • @jt6685
    @jt6685 หลายเดือนก่อน

    My father passed away recently. He left no property or assets. As his son, it seems the responsibility to file his final taxes falls onto me. I know he has owed taxes every year in the past and promptly paid what he owed. He will probably owe this year, too. If he has no assets to pay for the taxes, do I need to file a Form 56 to protect myself from what he owes? What do I list under the "Authority" section of the form? D or G? Or, do I need to go through a completely different process? Much thanks for your help!

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  หลายเดือนก่อน

      I'm sorry to hear about your father. However, you may not have to file IRS Form 56 for your father.
      What you might need to do is the following:
      1. File your father's final tax return. You do not need to use Form 56 for this, though. The Form 1040 Instructions state:
      The person who files the return must enter “Deceased,” the deceased taxpayer's name, and the date of death across the top of the return.
      As the executor or personal representative, you should be able to file this return. If, for some reason, your father was owed a refund, you would need to complete IRS Form 1310, Statement of Person Claiming Refund Due a Deceased Taxpayer:
      IRS Form 1310, Statement of Person Claiming Refund Due a Deceased Taxpayer
      Article: www.teachmepersonalfinance.com/irs-form-1310-instructions/
      Video: th-cam.com/video/CE8hop1CaD4/w-d-xo.html
      2. You might consider looking up your father's tax transcript, to make sure there aren't any outstanding taxes. If you have access to an online IRS account, you might be able to do this online. However, you can also file IRS Form 4506-T to request his tax transcript:
      IRS Form 4506-T, Request for Transcript of Tax Return
      Article: www.teachmepersonalfinance.com/irs-form-4506-t-instructions/
      Video: th-cam.com/video/szu6_cH5QpY/w-d-xo.html
      3. The IRS has a page with information to help people better this situation. It might be worth taking a look just to make sure you don't miss anything: www.irs.gov/individuals/deceased-person#file

    • @jt6685
      @jt6685 หลายเดือนก่อน

      @@teachmepersonalfinance2169 Thank you so much for the many resources provided. I have copies of his tax returns for the last 3 years, and had to pay taxes every year, which he promptly paid each year.
      I anticipate he will have to pay taxes again this year. He definitely will NOT be getting a tax refund. Since my father had no properties or assets, I am most concerned that I will be responsible for paying his taxes as the person filing his final tax return. I did not sign any documentation that makes me liable for what he owes. I'm trying to do the right thing by filing his final tax return, but if that action makes me liable for a debt I am not responsible for, I don't see the point to file.
      Will I be responsible to pay or is there a way to protect myself from paying his taxes? Some of the resources you provided mentions "estate", which is a term that confuses me. Since my father did NOT have any properties or assets, I don't see how I need to file for an "estate" that doesn't exist. I'm totally confused.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  หลายเดือนก่อน

      @@jt6685 I can't really answer all of your questions without stepping into legal advice (which I'm not allowed to give, since I'm not an attorney). If your father left zero assets (not even money in a banking account), and you did not inherit *anything* then the IRS wouldn't come after you for his tax bill. According to the Internal Revenue Manual (the IRS playbook), the IRS would probably not pursue your father's taxes if they were unpaid and there were no assets transferred (i.e. an inheritance): www.irs.gov/irm/part5/irm_05-001-011r
      However, the Internal Revenue Manual also states that the IRS *would* go after a transferee (someone who received assets at less than full, fair, and adequate consideration, such as an inheritance) for a deceased taxpayer's debt, if that person inherited assets that the IRS would have had a claim to (such as a tax balance due): www.irs.gov/irm/part4/irm_04-011-052

    • @jt6685
      @jt6685 หลายเดือนก่อน

      @@teachmepersonalfinance2169 Thank you for the answer. I had no inheritance. I had to pay for the funeral. I guess the bottom line of my questions is:
      1. Am I liable to pay for his taxes when he had no assets and I received no inheritance?
      2. If I am liable, is there a form such as Form 56 or another form that will release me from any liability.
      I'm not sure if you can answer these questions, but I really appreciate the input you have provided. To be on the safe side, I may need to hire a lawyer.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  หลายเดือนก่อน +1

      @@jt6685 Based on what I've found, I don't think that you would be liable for your father's tax liability, since you didn't receive any inheritance from him. You may consider calling the IRS to discuss the Internal Revenue Manual references above, or not.
      But the IRS cannot impose a tax liability on you, unless you actually received an inheritance from your father. In that case, the IRS would be claiming assets that should have been used to pay your father's tax bill.
      I hope this helps.

  • @maykonmills1598
    @maykonmills1598 ปีที่แล้ว

    I’m slightly confused as to why you would file separate Form 56’s for the decedent and the estate of the decedent.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  ปีที่แล้ว +3

      This is understandable.
      However, according to the IRS, a decedent’s estate is a taxable entity separate from the decedent that comes into existence at the time of the decedent’s death.
      From the form instructions: File a separate Form 56 for each person for whom you are acting in a fiduciary capacity. For example, if you will be filing the decedent’s final Form 1040 and are the executor/administrator of the decedent’s estate, file one Form 56 entering the name of the decedent as the person for whom you are acting and file one Form 56 entering the name of the estate as the name of the person for whom you are acting.

    • @maykonmills1598
      @maykonmills1598 ปีที่แล้ว

      @@teachmepersonalfinance2169 Thank you for the clarity.

  • @kerriessex1704
    @kerriessex1704 7 หลายเดือนก่อน

    Where do I send the form once completed?

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  7 หลายเดือนก่อน

      According to the form instructions, "File Form 56 with the Internal Revenue Service Center where the person for whom you are acting is required to file tax returns."
      Based on location, this page contains filing information for individual tax returns: www.irs.gov/filing/where-to-file-addresses-for-taxpayers-and-tax-professionals-filing-form-1040

  • @angiebetances
    @angiebetances 5 วันที่ผ่านมา

    Hi, in your website you don't share where to file this form via mail or fax.
    Where I can find it?
    The one I need is for the foreing or international.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  5 วันที่ผ่านมา

      According to the form instructions, you should file Form 56 with the Internal Revenue Service Center where the person for whom you are acting is required to file tax returns.
      Here is the link to the IRS page with more specifics: www.irs.gov/filing/where-to-file-paper-tax-returns-with-or-without-a-payment

    • @angiebetances
      @angiebetances 5 วันที่ผ่านมา

      @@teachmepersonalfinance2169 The taxpayer is foreign. Is not filling forms 1040. I need the foreign address for file the form 56 or 56F
      Thank you!

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  5 วันที่ผ่านมา

      @@angiebetances According to the form instructions, you should file Form 56 with the Internal Revenue Service Center where the person for whom you are acting is required to file tax returns. If the taxpayer is not filing Form 1040, then what type of tax return is the taxpayer filing?
      Each type of tax return has specific filing instructions. Without knowing the type of tax return being filed, it's impossible to give the correct address.

    • @angiebetances
      @angiebetances 5 วันที่ผ่านมา

      @@teachmepersonalfinance2169 ok, if you have the list of all it will helpful. bc is for a foreign company i dont know if is the 1041 return or other thanks

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  5 วันที่ผ่านมา

      @@angiebetances There's not a single list. The IRS website contains information on literally dozens of pages. You will need to know a little more information about your client's situation (such as the type of tax return), so you can navigate to the correct page.
      If you're able to identify the type of tax return your client files, then I can point you in the right direction. Otherwise, the filing location for international taxpayers is located in the IRS instructions for each particular form.

  • @angelf9800
    @angelf9800 9 หลายเดือนก่อน

    I loss my original Certificate of naturalization what can I do 😢

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  9 หลายเดือนก่อน

      I am not sure what you can do. However, I did find a page on the USCIS website containing Form N-565, which appears to be an application for the replacement naturalization certificate. I hope this helps:
      www.uscis.gov/n-565

  • @sj-kp1ks
    @sj-kp1ks 7 หลายเดือนก่อน

    I'm not sure if I should be filing Form 56 or not. I'm the executor named in my brother's will. I do not have letters testamentary, since we did not go through probate. (In WA state, there is a "Declaration of Successor" option to transfer assets for small estates.) When I tried to file his 2022 tax return, his SSA-1099 was missing and the SSA wouldn't send me one because I was not a court-appointed "Personal Representative". So, still trying to get the 2022 1040 form submitted, tried the Taxpayer Assistance Center, They wouldn't make an appointment with me unless I filed Form 56. Not sure I want to take on a "fiduciary responsibility" with unknown ramifications when all I was trying to do was file his final tax return. Don't know what my options are. Any suggestions?

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  7 หลายเดือนก่อน

      There are some challenges. Neither the IRS nor the SSA will give you tax information or allow you to communicate on behalf of your brother's estate unless you are established (in their opinion) as someone with the rights to that information. I don't think that either federal agency would recognize a declaration of successor, since that's a function of one state's law.
      Outside the probate process, I don't really know what you could do with the declaration of successor to get the tax or SSA information that you need. My advice would be to discuss this with either a local CPA or probate attorney to see what options you might have, without going through probate.

    • @sj-kp1ks
      @sj-kp1ks 7 หลายเดือนก่อน

      Thanks very much for your response! Guess I'll try the CPA route.

    • @sabrinac4820
      @sabrinac4820 5 หลายเดือนก่อน

      Sorry about your loss...however, when a person dies everything dies with them. You DO NOT have to file there taxes, pay there bills nothing!!! Don't open mail write on outside DECEASED RETURN TO SENDER!! You weren't responsible for them while they were alive you cant be when there dead. 40 yrs paralegal speaking 😊

    • @sj-kp1ks
      @sj-kp1ks 5 หลายเดือนก่อน

      @@sabrinac4820 Thank you! I like this answer a lot, mostly because it relieves me of any responsibility.
      The problem is, according to the IRS website: "If there's no appointed representative and no surviving spouse, the person in charge of the deceased person's property must file and sign the return as "personal representative."
      Maybe there's a difference between de jure and de facto?
      I guess I'm worried that in two years, or five, the IRS will show up at my door with demand for payment, plus interest.
      Like most sane people throughout history, I want as little to do with the government as possible.

    • @sabrinac4820
      @sabrinac4820 5 หลายเดือนก่อน

      Trust...I have had hundreds of ppl die they cant come after you if you DONT ACCEPT THE JOB filing the 56 form is voluntarily accepting a job that you were not appointed to by the deceased or the court then you will be responsible for getting the paperwork done. You are a private individual, no one can tell you what to do for ANOTHER ADULT DEAD OR ALIVE. Just put on the mail deceased return to sender the BUCK stops there....DO NOT SAY CONTACT ME....they are just looking for money from a dead man or anyone who is willing to give them some! BE SILENT DO NOTHING IT WILL PASS. If anyone does call/contact you just tell the TRUTH "I have no authority to handle the deceased business"

  • @garlandk77
    @garlandk77 หลายเดือนก่อน

    My father died recently and has a will, but the will won’t be probated because there is no property needing property. There is no trust involved. On Form 56, under Authority should I select option (d) = Fiduciary of intestate estate? Or should I select option (g) = OTHER and then add something like this: I am named as executor in decedent's will, but the will won't be probated so there is no appointed executor.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  หลายเดือนก่อน

      I'm confused as to why you're filing IRS Form 56 in this situation. If your father left no property requiring probate, then I'm not sure what you need to do with Form 56.
      If your father has a tax refund owed to him, then you might consider filing IRS Form 1310:
      IRS Form 1310, Statement of Person Claiming Refund Due a Deceased Taxpayer
      Article: www.teachmepersonalfinance.com/irs-form-1310-instructions/
      Video: th-cam.com/video/CE8hop1CaD4/w-d-xo.html
      If you do this, you could answer the questions as follows:
      1. Yes
      2a. No
      2b. No
      3. Yes
      Is there any other matter where you think you need to file IRS Form 56?

    • @garlandk77
      @garlandk77 หลายเดือนก่อน

      ​@@teachmepersonalfinance2169 Many thanks for your reply. I must file my father's tax return for 2024 and Form 1310 to receive his refund. My understanding is when you file a deceased person's tax return, it's standard practice to also file Form 56. Is that correct? People have reported that if you file Form 1310 but no Form 56 has been filed, IRS will ask you to file Form 56 before sending the refund. If I need to file Form 56, would your advice be to select option (d) or (g) under Authority on Form 56? When there is a will but no probate, IRS publications don't explain exactly to how Form 56 should be filled out, and I haven't found the answer by searching Google.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  หลายเดือนก่อน

      @@garlandk77 Here is the IRS page regarding deceased taxpayers: www.irs.gov/individuals/deceased-person
      The problem with selecting option (d) is that your father did not die without a valid will. I cannot give you legal advice as to whether you're required to probate your father's will (I'm not an attorney), but that's probably the resistance that you'll encounter if you file Form 56.
      If you selected option (g), then you would also have to (from the IRS instructions): Enter the date you were appointed or assets were transferred or assigned to you on Line 2b.
      I'm not sure how to advise you to navigate this situation without probating your father's estate. Technically, any tax refund would likely be part of a probate estate, and should go through the probate process. But an attorney might be able to better help you navigate through this.

    • @garlandk77
      @garlandk77 หลายเดือนก่อน

      @@teachmepersonalfinance2169 Thanks for your reply. I’m the only beneficiary of my father’s estate, and my lawyer told me he has no assets needing probate so the will won’t be needed. When I submit Form 1310 to obtain his tax refund, my understanding is that the refund will be made out to my name. Is that right? if so, it does not appear the refund should require probate. But some sources say IRS requires Form 56 before they will issue a 1310 refund. My lawyer is not familiar with Form 56. When a valid will exists but there is no probate, IRS does not explain how to fill out Form 56. This question was asked on TurboTax Forum and a "Tax Expert" said to use option (d) = Fiduciary of intestate estate. But as you said, that is not technically correct. So I don’t know what to do.

  • @Jaebin_under_God
    @Jaebin_under_God ปีที่แล้ว

    So I hear people talking about they want to be the Fiduciary over their let say... crown or government estate right.. well, why would these guys want to be liable? The first time I saw this document was in relation to assigning the fiduciary trustee status to a judge, because they held the grantor beneficiary status over the court, if you stand as surety for another you will smart for it.. right?

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  ปีที่แล้ว

      I apologize for the late response. I'm not sure what your question is, though.

    • @queenstarmary-rs2xo
      @queenstarmary-rs2xo 8 หลายเดือนก่อน +3

      He is not aware of this process, hes still operating under admiralty it seems.

    • @Jaebin_under_God
      @Jaebin_under_God 8 หลายเดือนก่อน

      @queenstarmary-rs2xo the true nature of these documents is never revealed, there are two faces to a coin.

    • @guidingchangesllc.2911
      @guidingchangesllc.2911 5 หลายเดือนก่อน

      can the secretary of state be my fiduciary to file my taxes because I don’t know how to file them correctly

    • @practicalteachingchronicle6631
      @practicalteachingchronicle6631 3 หลายเดือนก่อน

      You better know it. ​@@queenstarmary-rs2xo

  • @atuckertucker
    @atuckertucker 7 หลายเดือนก่อน

    The funny thing is.
    So my mother passed away.
    And I had to file a tax return?
    So if I don’t. What is going to happen?
    Well they can’t arrest my mother. Because she isn’t here.
    And they can’t arrest me because I didn’t care to find out.
    It blows my mind that anyone thinks they are entitled to anything that other people worked for and they owned. It pisses me off that they steal money out of my paycheck then make me jump through hoops to get it back maybe.
    And I am supposed to file a tax return for some one that isn’t even here anymore.??
    I think not.
    And it is obvious we are not supposed to understand the double talk that the Nevada Revised statutes say. So that means you have to hire an attorney or lawyer.
    Then they get a cut of your inheritance..
    What a nice scam..
    my aunt was telling me that if I didn’t sale my mother’s house and give my brother half. Then someone would be coming to kick me out.
    So I told her.
    I will wait for whoever they are to come and kick me out. I have a WILL and my brother wasn’t getting jack.
    My aunt told me the WILL was garbage.
    And lawyers will tell you the same thing.
    Bull crapola.
    I won in court.
    And I am still waiting for who ever they are. To come kick me out.
    My mother told me as long as I pay the property taxes I am good. She paid cash for her house.
    And now I find out that the federal reserve notes are nothing but debt backed by nothing. The property deeds binds us into a contract for a hidden federal tax lien.
    O I could go on on with the scams that have been placed against the people.
    It is nothing but highway robbery.. And the people just go along with it.??
    The Washington District of Columbia corporation and every so called government from local to state to federal. Are corporations like Taco Bell is a corporation. Then they say social security is a benefit?
    I think not.. They stole money out of my paychecks. And they better hold up to their contract. Or give me my money back. What a bunch of liars and thieves we have amongst us. And that is why the nation is so messed up .
    We keep letting the thieves steal. So if they are lying about the social is a benefit? Then what else do they lie about. Well obviously everything!! .

  • @keepitthoro6768
    @keepitthoro6768 3 หลายเดือนก่อน

    What is the point of this...dumb it down please

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  3 หลายเดือนก่อน +1

      The point of Form 56 is to notify the IRS that you are the fiduciary on someone's behalf, who might not otherwise be able to represent themselves on tax matters. This might be on a person's behalf (such as an elderly parent), or on the behalf of an estate or trust (which are not actual people).
      From the form instructions: Examples of fiduciaries include administrators, conservators, designees, executors, guardians, receivers, trustees of a trust, trustees in bankruptcy, personal representatives, persons in possession of property of a decedent’s estate, or debtors in possession of assets in any bankruptcy proceeding by order of the court.