A payroll is a company's list of its employees, but the term is commonly used to refer to: 1  the total amount of money that a company pays to its employees. 2  a company's records of its employees' salaries and wages, bonuses, and withheld taxes.  the company's department that calculates and pays these.
Report Abuse. yes a beneficiary can act as an executor, usually one is appointed by probate attorney, by family of deceased, or it may be stated in the deceased persons will. Remember, the executor must remain neutral and decisions made on behalf of the estate.es you can. This is actually recommended. The only time that an executor who is not a beneficiary should be named is if a beneficiary is under the age of 18 because someone under this age cannot inherit his/her share until they reach 18.
Executor (or Executrix) Personally Liable for Taxes. One of the duties of an executor is to pay any debts the deceased left behind out of the assets the deceased left behind. These debts can include unpaid federal tax liabilities. If the taxes are not paid, in some cases the executor can be personally liable for them. A recent article in JD Supra, titled T & E Litigation Newsletter - September 2014 #1, tells the story of a federal tax case involving an executrix who was held personally liable for the deceased's tax liabilities.