The charge-out rate is and expression of fee earnings in terms of Rand per R1000. of average total package earned, calculated as follows: charge-out rate = [overhead factor x mark-up / utilisation rate] / [available hours / 1000] A summary of the hourly fee rates for consultants is set out in Annex One.
For example, someone collecting from a deceased personâs 401(k) or traditional IRA would have a deduction of the federal estate tax on that portion of the decedentâs assets, recovered over time in the year the income was received.
The same filing requirements apply to a deceased taxpayer that apply to any other individual taxpayer. Even if the deceased isnât subject to filing requirements, file a return to get a tax refund of any taxes that were withheld. The return is due by the filing deadline for the tax year in which the taxpayer died; tax returns for people who died in 2011 are due on or before April 17, 2012. Whose responsibility is it to file? The person in charge of the estate is responsible for making sure the tax return is filed. This could be the executor, spouse or anyone else in charge of the decedentâs property. If the taxpayer was married at the time of death, the surviving spouse may file the return for the year using the married filing joint status.