Chapter 2: Final Tax Returns for Deceased Individuals Flashcards
What is the due date for balance owing for living individuals?
The balance owing is due on April 30 of the year following the tax year, regardless of whether the individual qualifies for the June 15 filing due date.
What is the balance due date for a deceased individual?
The balance due date for a deceased individual is generally April 30 of the calendar year following the year of death.
If death occurs after October or between November 1 and April 30, the balance due date is extended by six months.
When must the final income tax return for a deceased individual be filed if death occurs after October of the tax year?
The final tax return must be filed by six months after the date of death.
If Joanne Rivers dies on March 31, 2025, what are the due dates for filing her final returns and paying the balance owing?
Joanne’s 2024 tax return is due by September 30, 2025, and the final 2025 return is due by June 15, 2026, with any balance owing for 2025 due by April 30, 2026.
