Tax Deadline Reminders for Trusts and Estates

Trust and Estates tax filings and payments have annually reoccurring deadlines, except for when the date falls on a weekend or legal holiday in which the deadline will be pushed to the next business day.

The following are annual deadlines to be aware of for Trust and Estates:

January 15
- Fourth quarter prior calendar year estimated tax payments are due.

April 15
- Deadline for filing a Trust and Estates Income Tax Return, Form 1041, or file for an extension. Executors, Trustees or personal representatives of an Estate use Form 1041 to declare any taxable income that an Estate or Trust generated after the decedent passed away and before designated assets were transferred to beneficiaries. Trusts and Estates do file Form 1041 if they have a gross income of $600 or more for the tax year.

- Deadline for first quarter estimated tax payment for the current tax year.

- Deadline for simple Trusts to issue Schedule K-1 to report income distributions to trust beneficiaries and complex Trusts to issue K-1s if they distribute any income to beneficiaries during the year.

June 15
- Second quarter estimated tax payments are due for Trusts and Estates.

September 15
- Third quarter estimated tax payments are due for Trusts and Estates.

September 30
- Deadline for Estate and Trust returns using Form 1041 that had filed for an extension in April.

If you have questions about these deadlines or your Trust or Estate follows a fiscal calendar and needs information about alternative deadlines, please contact our office at accounting@hvandpartners.com or 914-617-7620 and we will direct your call to better assist you.