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Which Trust Comes under Reg 221907 Form

Which Trust Comes under Reg 221907 Form

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[Music] hi i'm paul grow director of the estates administration department at the law offices of daniel hunt they say that the only certain things in life are death and taxes but did you know that dying doesn't excuse you from paying taxes it's true when a settler of the trust dies the successor trustee is responsible for handling the decedent's unfinished tax business in total there are four main types of tax returns that the trustee has a responsibility to prepare and file the first is the decedent's final tax income return as a trustee you'll be responsible for filing the decedent's final tax return and paying any taxes due if the decedent was married and the surviving spouse is still alive consult with a cpa about possibly filing a joint return with the surviving spouse if this would be beneficial for the estate second final income tax returns for the estate as trustee one of the last tasks you will likely perform in your role is filing the final tax return or form 1041. form 1041

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