Washington Final Accounting Supplement (WAS) is an optional form provided by the Washington State Department of Revenue for businesses to report additional information about their finances. It provides detailed information about the financial activities of a business that is not reported on the standard Washington state business tax return. WAS can be used to report the gain or loss on the sale of a business, depreciation expenses, income from rental real estate, and other items. There are two types of Washington Final Accounting Supplement forms: Form R-103 for C-Corporations and Form R-104 for all other entities.
Washington Final Accounting Supplement
State:
Washington
Control #:
WA-SKU-1008
Format:
PDF
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Final Accounting Supplement
How to fill out Washington Final Accounting Supplement?
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FAQ
Every family situation is unique, so there is no set time that an executor can expect to work. If you are named to serve in this role, check with an attorney in the decedent's state to find out what to expect.
If you believe that the executor is not living up to their duties, you have two legal options: petition the court or file a civil lawsuit. Beneficiaries can petition the court to have the executor removed from their positon if they can prove they should be removed for one of the reasons listed above.
Typically, fees ? such as fiduciary, attorney, executor, and estate taxes ? are paid first, followed by burial and funeral costs. If the deceased member's family was dependent on him or her for living expenses, they will receive a ?family allowance? to cover expenses. The next priority is federal taxes.
The short answer is yes, you have to show an accounting unless the heirs or beneficiaries of the estate waive the requirement. And even if they waive it, probate best practice is to show a thorough summary of what was done so you reduce the chance of disputes later on.
Under Washington State law, your descendants (aka your children) are considered your heirs, but your heirs do not have to be your descendants. If you die without a will, Washington law requires your assets to be given to certain members of your family, if they are alive at the time of your death.
Informal Accounting: What is it? Informal accounting of an estate is performed by the executor, who was appointed by the deceased. During the process of informal accounting, the executor reviews and interprets the will to determine the deceased's wishes for asset distribution.
Under Washington probate law, any person who has the deceased person's will must turn it over either to the probate court or to the personal representative within 30 days of finding out about the death. And if the personal representative has the will, they have 40 days to turn it over to the Washington probate court.
The short answer is yes, you have to show an accounting unless the heirs or beneficiaries of the estate waive the requirement. And even if they waive it, probate best practice is to show a thorough summary of what was done so you reduce the chance of disputes later on.