Income in Respect of a Decedent (IRD).

Income in Respect of a Decedent (IRD) is income that a decedent would have received had they not died. This includes items such as wages, bonuses, commissions, and other forms of earned income. IRD is generally taxed at the decedent’s marginal tax rate. However, there are some special rules that apply to IRD, such as … Read more