Important Tax Due Dates for Estates and Trusts in 2024
Form 1041 Deadlines
Executors or trustees of domestic decedents estate trusts or bankruptcy estates are required to file Form 1041 to report the income, deductions, gains, losses, and other information related to the estate or trust.
While the 2024 Form 1041 is not yet available, estates or trusts must indicate their 2024 tax year on the form.
Calendar Year End Deadline
For calendar year 2023, Form 1041 must be filed by April 15, 2024.
Final Short-Year Period Deadline
In the case of a final short-year period, the return is due by the 15th day of the fourth month following the end of the short-year period.
Other Form Deadlines
Some other important tax due dates for estates and trusts in 2024 include:
- Form W-2, W-3, 1099-NEC: January 31, 2024
- Form 5227: April 15, 2024
Tips for Filing on Time
To ensure timely filing and avoid penalties, estates and trusts should:
- Gather all necessary financial records and documentation.
- Review the instructions for Form 1041 carefully.
- Use tax preparation software or consult with a tax professional if needed.
- File the return electronically to expedite processing.
- File an extension if necessary, but only if they anticipate being unable to file on time.
By adhering to these deadlines and filing requirements, estates and trusts can fulfill their tax obligations and avoid potential penalties or complications.
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