Taxation of Trusts and Understanding Form 1041

This course will go over the differences between trusts and estates, the different types of trusts and how to compute taxable income and related deductions. We will learn terminology, specific to the trusts and estates, who the parties are within this taxing scheme, as well going over the actual form (IRS Form 1041) and the responsibilities of the parties (trustee, fiduciary, the beneficiaries and the tax professionals). We will discuss the Uniform Principal & Income Act, Distributable Net Income, Specific Bequests, and elections specific to trust taxation.

Jeffrey A. Schneider

EA, CTRS, ACT-E, NTPI Fellow

Live Webinar

4H CE

$120

Summary

An Reporting Agent has the authorization to keep his clients payroll. Through Form 8655, the client authorizes the Reporting Agent to prepare Forms W-2, send Forms 940 and 941 to the IRS, as well as make deposits on behalf of the company and receive any information from the IRS related to payroll.

Objective

Taxation of Trusts and Understanding Form 1041

  • Live Webinar

  • Digital Platform

  • 4H CE

  • Included in the VIP Membership of LABITAX

$120

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