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.
That's because most trusts are structured to make distributions simple and predictable. For instance, many trusts are set up to pay all the income the trust generates to a particular beneficiary. In that situation, the most common tax result is that all taxable income gets carried out of the trust to the beneficiary.