Inheriting property or other assets typically involves filing the appropriate tax forms with the IRS. Schedule K-1 (Form 1041) is used to report a beneficiary’s share of an estate or trust, including ...

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 ...

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 ...

It is not unusual for a tax adviser to suggest that a client involved in estate tax planning leave some assets to a char­ity. Clients who would like to see their charitable endeavors perpetuated are ...

More Americans are dealing with estate and trust taxes as their baby boomer parents and older loved ones pass away. The number of income tax returns for estates and trusts (Form 1041) increased by ...

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.

With another tax season recently behind us, the Internal Revenue Code and its many reporting requirements are fresh in our minds. Do you encounter beneficiaries who want to know why you need so much ...

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 ...