The Line-By-Line Preparation of Form 1041 (MLC863L)

  Pre Recorded Webinar
  150 minutes
   Tue, August 30, 2016

How to Properly Use Form 1041 to Report Taxes for an Estate Fiduciary

When a decedent leaves a fiduciary in charge of his or her estate, the fiduciary must fill out a special form with the Internal Revenue Service (IRS) to report what happens with the estate or trust. Income, deductions, gains and losses, as well as income that is distributed to beneficiaries or accumulated or held for future distribution to them, and any income tax liability of the estate or trust, must all be reported, according to the IRS. And don’t forget any household employees and their wages – the fiduciary must ensure employment taxes are reported to the IRS.

The resulting tax compliance issues can be dizzying, especially to practitioners who have never worked with fiduciary reporting and Form 1041 before. Preparing a U.S. income tax return for an estate or trust involves many issues that are not intuitive and that require some practice to get right. Don’t let your client be a test case! Join this course, the third of three parts, with tax attorney Arthur Joseph Werner and get a clear idea of how to handle the Form 1041 and all its reporting complexities.

Session Highlights

Session Agenda

NASBA & IRS Category of Study: Taxes

Level: Basic

Who Should Attend:

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Arthur Joseph Werner, JD, MS (Taxation), received his B.S. in Accounting and his M.S. in Taxation from Widener University. He holds a J.D. in Law from the Delaware Law School. His lecture topic specialties extensively include the areas of Estate Planning, Financial Planning, and Estate and Gift Taxa... More info


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