Thursday, May 13, 2010

Will I be able to cash my parents' economic stimulus check if both are now deceased?

I am their designated trustee and am working on settling their estate.Will I be able to cash my parents' economic stimulus check if both are now deceased?
If you cash a federal check by mistake, you (or your heirs) still have to pay it back, perhaps with interest. So it's wise to check on the check.





The stimulus checks specifically include situations where the taxpayer has died. 鈥淪timulus payments will be issued in the name of the individual eligible for payment on a filed 2007 income tax return or to the account designated by the individual on that return. Any issues or concerns involving a decedent's filed return or the related stimulus payment should be addressed by the legal representative of the decedent's estate.'; (From the IRS website)





If one of your loved ones died last year, you may be able to get his or her stimulus check up until Oct. 15. All you have to do is file a tax return. If you don't file a 2007 tax return, you don't get a stimulus check.








http://www.irs.gov/contact/index.htmlWill I be able to cash my parents' economic stimulus check if both are now deceased?
Q. If an individual dies, what happens to his or her direct deposit or stimulus check?





A. Stimulus payments will be issued in the name of the individual eligible for payment on a filed 2007 income tax return or to the account designated by the individual on that return. This includes situations where a person dies after filing a return or where the final 2007 income tax return was filed by a personal representative or surviving spouse. Any issues or concerns involving a decedent's filed return or the related stimulus payment should be addressed by the legal representative of the decedent's estate. See Publication 559 for more useful information for survivors and personal representatives. [Updated 3/17/08]
If you don't have an estate account set up, use form 1310 to get the check reissued.
Yes, it becomes part of their estate
If you bring their certificates of death and your trustee paperwork.





I'm so sorry for your loss.
i think so. was your name on a joint acct w/them?
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