Form 1041 Reporting Requirements

Duration: 60 Minutes
With more and more trusts being used today and audits of Form 1041 (U.S. Income Tax Return for Estates and Trusts) on the rise, it has never been more critical to understand the ins and outs of income taxation of trusts and estates and the preparation of the Fiduciary Income Tax Return. Recent shifts and changes in the taxation of estates and trusts have also changed some of the planning techniques that practitioners should consider when advising clients.
Form 1041 Reporting Requirements
Instructor: Paul Wigg-Maxwell
Product ID: 502022
Objectives of the Presentation
  • Help clients make the right choices in estate and trust planning
  • Understand the concepts of fiduciary income taxation
  • Describe the various trust options available in estate planning
  • Prepare a Form 1041 correctly
Why Should you Attend
This webinar will improve return preparers' familiarity with preparing Form 1041, such as calculating distributable net income, allocating income between the trust and beneficiaries and understanding reporting rules for revocable and irrevocable trusts. All tax preparers, accountants, attorneys and financial planners who advise clients on tax planning, estate planning and wealth management matters will benefit from this webinar.

Areas Covered
  • Preparing Form 1041
  • What is the difference between a Grantor Trust and other Trusts
  • Taxable income
  • Calculating distributable net income
  • Allocating income between trust and beneficiaries
  • Deductions
  • Selecting a year end
  • Reporting rules
Who will Benefit
This course is essential for
  • CPAs
  • CFPs
  • Enrolled Agents
  • Estate Planners
  • Bank Trust Officers
  • Tax Attorneys and other professionals who advise clients on tax, retirement and estate planning and other wealth management matters
$300
Recorded Session for one participant
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How it works
Live Session - How it works
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  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Paul D. Wigg-Maxwell is an International Tax Attorney with over thirty years experience advising on international tax matters. He received his JD from Columbia Law School and an LLM in Taxation from NYU Law School. He worked in the Tax Departments of large New York City law firms for eight years before establishing his private practice in New Jersey.
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