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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.
Many times the solution is delaying the payment of taxes, specifically trust fund taxes. On the same day, Letter 1153, Notice of Proposed Assessment, was issued and mailed by certified mail to all of the officers listed on Form 4183, Recommendation of Assertion of Trust Fund Penalty, as responsible for the penalty.