Start studying Digestive System (anatomy of alimentary canal). Learn vocabulary, terms, and more with flashcards, games, and other study tools.
Estimated Income Tax. Trusts that earn income must pay estimated tax payments during the year. These payments are due on April 15, June 15, September 15 and January 15 for calendar year trusts. Calculate the estimated payments on IRS Form 1041ES. The instructions for this form provide complete detail about how to pay this tax.
Youâll need exact values later, but this will help the attorney know if an estate tax return will need to be filed (due no later than nine months after the grantorâs death). If there is a surviving spouse or if the trust has a tax planning provision, the attorney may need to do some tax planning right away.