Who thinks about tax season in July? The answer is likely no one outside of an accountant’s or tax attorney’s office. But the confusion over how to complete tax forms may not go away for executors tasked with administering an estate. Obscure and dense tax forms can be vexing; especially for those who do not regularly deal with them.
But due to legislation passed in 2015, executors must now complete IRS tax form 8971. This post will briefly explain what the form is and why it can be confounding.