What kind of account is it that you anticipate taxes would be owed? Is it an investment account? And how is the account titled? Jointly? With rights of survivorship?
Zoom, chances are your Mom is the primary holder of said account thus it is her social security number to ID the account..... for IRS she would get a statement showing how much interest she had earned.
I would say no. Do you share the account or just on there for convenience? Mom owes taxes this year? She can't pay them? Did she have a tax preparer? If so, ask him if a payment plan can be set up with IRS.
The next question would be, why does Mom owe? Depending on income, SS isn't always taxed. Are taxes taken from her pension? Does she now have to pay taxes on IRAs?
The next question would be, why does Mom owe? Depending on income, SS isn't always taxed. Are taxes taken from her pension? Does she now have to pay taxes on IRAs?