Probate - When is a tax identification number necessary for an estate?
Question
We are opening a Petition and Order file to get stock transferred
to the surviving spouse. The owner/spouse died in 1994. The
value of the stock is $2394.00. We are working with the corporation
to get this done. Do we need to request a tax identification number
(TIN) for this?
Answer
Technically you do not need one. If a probate estate has gross income
of less than $600 it need not file a tax return. If you are expecting
the only order from the probate court to be the distribution to the surviving
spouse and the unpaid dividends (assuming there are any) are also ordered
to the surviving spouse then you will not need one.
After this long a period, sometimes the transfer agent has additional
questions.
If the transfer agent insists, it is easier to do what they want then
to fight them. If you go to IRS.gov and have either a power of attorney
(2848) allowing you to get an EIN, or the client at your desk, you can
get one online in about 15 minutes. (IRS.gov or go directly to https://sa2.www4.irs.gov/modiein/individual/index.jsp)
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Last Updated: 4-9-08
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