Any trust required to file Federal Form 1041 (except for revocable or grantor-type trusts) must obtain a Taxpayer Identification Number (TIN). A TIN for a decedent’s estate is needed if the estate ...

The IRS recently issued a revised Form 5227, Split-Interest Trust Information Return, for use in preparing returns for tax years beginning on or after Jan. 1, 2007. Among its numerous changes, the ...

Beginning in 2018, individual taxpayers did NOT get deductions for miscellaneous itemized deductions on Schedule A of form 1040. The Tax Cuts and Jobs Act of Dec. 22, 2017 eliminated those deductions ...

Split-interest charitable trusts are required to file the form required by the Secretary of the Treasury each year. Historically this has been Form 1041-A, Trust Accumulation of Charitable Amounts.

A living trust is a common solution for many people with estate planning needs. However, few people know about its tax-filing requirements. Generally, any trust with at least $600 in annual income ...

Beginning on January 1, the Internal Revenue Service plans to limit the number of e-file signature authorization documents for filing Form 1041 estate and trust tax returns to a single 1041 return ...

The IRS requires a means to identify taxable entities, whether that person is a person or an organization. Social Security numbers (SSNs) are the primary way of identifying people for tax purposes.

I have a simple Trust left to me by my father upon his death. He left a simple trust and I received $90,000 from it. I used $60,000 to payoff my mortgage. Will I be required to pay taxes on any of ...