Tax Information for the incapacitated and their Substitute Decision Makers

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David Rotfleisch Podcast Transcript

David Rotfleisch is both a lawyer and an accountant.  He helps us better understand some of the complicated tax issues that families must be aware of and must deal with. During our conversation, he answers the following questions:

1. Does being incapacitated affect income tax filing requirements?
2. Are there any special tax deductions for individuals with incapacities?
3. What are the record keeping requirements for SDMs
4. What should be done if there is unreported income or unreported offshore assets?
5. What happens to unpaid tax debts during the life of the incapacitated individual?
6. What happens to unpaid debts on death?