Can I Write Off Funeral Expenses on My Taxes?
Some people are under the assumption that since you’re able to write off your medical expenses, that you’re also able to write off funeral expenses. They say that the only things in life that are guaranteed are death and taxes, so it makes some sense that funeral expenses would be tax deductible. After all, there’s little to no way to avoid them and it seems easy to assume that it would be unfair for the IRS not to allow this.
This is a wrong assumption to make, and no matter how much you might want to argue this, the Internal Revenue Service (IRS) will win. You just can’t do it. If you try, at the very least, your tax refund will get delayed. You also may be penalized resulting in a deduction of your refund, or if you owe, adding an additional amount to what you’re already required to pay. You could even risk getting audited! It’s just like making any other questionable deduction.
In short, anything that doesn’t seem to be adding up right on your annual tax filing is subject to an additional amount of scrutiny, and it’s up to the IRS to determine how they’re going to deal with this discrepancy. Unfortunately, it can be hard to predict how individual IRS agents are going to address the difference.
Sometimes it even seems like how they react depends largely on what the individual gets assigned to work your case! If you’re really concerned about a deduction, though, then there’s a place you can turn to.
It’s Best to Check!
It’s best to verify with a professional tax service or with the IRS as to whether or not you can write off funeral expenses, or anything thing else for that matter. Success Tax Relief, a tax relief firm located in LaPorte, Texas, has over three decades of experience filing tax returns for people all over the country. Furthermore, our company specializes in alleviating tax debt situations for taxpayers who have found themselves in a considerable amount of debt with the IRS.
We’ve handled hundreds of cases where people thought they could claim something or write off an expense that they weren’t supposed to, and helped rectify that error with minimum penalties simply by communicating to the IRS on behalf of our clients.
You don’t have to let it get that far out of hand. By simply educating yourself about the tax laws, you’ll be much better off in handling the way you file your tax return.
Making Sure It’s Done Right
Whether you’re the person who prefers to do your own taxes or hire someone to do it for you, make sure that whoever is handling your annual taxes is well informed because at the end of the day, if something’s not right on your annual filing, the IRS will be coming for you!
That being said, you shouldn’t get too worked up about this possibility. If you do find yourself in trouble, then you should take a deep breath first to avoid making any bad moves. You don’t want to potentially make the situation much worse than it already is after all!
Once you feel a little more comfortable, you can get in touch with professionals who will help you through a difficult time.
Now, About Those Funeral Expenses…
While you cannot file funeral expenses, there is an exception and that’s only if you paid for it from an estate.
Sandy Kaduce stresses the importance of pre-planning funeral arrangements in an article titled, Are funeral and cremation expenses tax deductible? on the National Cremation website. In it, Kaduce writes, “Although the cost of a pre-planned funeral cannot be deducted from your own taxes while you are still alive, pre-planning saves your heirs and loved ones from being forced to pay the cost of the funeral without any tax relief at a price higher than what a pre-planned cremation and memorial would cost.” Likewise, pre-planning your tax filing with a reputable tax relief service can save you and your loved ones from financial stress.
Naturally, you might think that it’s very unfair for the IRS to not allow you to deduct final expenses from a tax form. In many ways, it is. There are few times that you want to be troubled with such things, but it’s even worse when you’re grieving. Worst of all, it makes it look as though the IRS doesn’t want people to escape taxes even if they were laid to rest! However, there really is a logical reason behind it.
Unfortunately, some people would try to abuse it if they did grant a deduction here. Some unscrupulous sorts would probably hide money away by claiming that it was spent on a loved one’s funeral. The thought of trying to abuse such a terrible circumstance is horrific, but there are certainly people out there that would attempt to cheat the system in that way.
The good news is that there are also people out there who are on your side.
You can contact us online at Success Tax Relief to avoid financial stress no matter what your circumstances might be. Get in touch with us through the form on our site and let us know more about your specific case. Our crews are standing by at all times to help you no matter what the situation might be. Best of all, they’ll be a breath of fresh air even if tax issues have got you down!