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Printable Form 5495 High Point North Carolina: What You Should Know
If your estate has a trust for the benefit of its children, it will probably ask and see this trust as well. However, if trust beneficiaries do not own all of their own shares, as would typically occur with a family business, or if your estate consists of more trusts than actual beneficiaries, you have to figure out if and how those trusts will pay tax on the trust income. If the executors of a decedent have an estate tax return on file, they can't give you a direct tax number, as the Internal Revenue Service is not the one asking for that information (that is the executor(s) of the estate, not you). However, if this information is on the estate Tax Return, but is not reported to the Internal Revenue Service, it can be given to you by the executors as they do not report such information. In cases where the executor(s) have a separate tax return or Form 4853 for the estate, the executors have to contact the IRS to request information on that return. There are two methods for doing so. The most common method is for the executors to contact the tax return holder, so long as the tax return holder has the actual copy of the estate tax return. The second method is to send the executors Form 1040-EZ and Form 4853. Form 1040-EZ is a Form W-2 that is filed with an executor. If the executor is an employee of the estate, and the executor is claiming wages as employment income, then the executor will fill in Form W-2 with the employer's authorization using the information provided by Form 4853. If Form 1040-EZ wasn't filed with the executor, and no Form 4853 was given to the executor as requested by the executor, the executor must file the Form 1040-EZ and then file the Form 4853 as well. In such cases, Form 1040-EZ with the executor's authorization must be filed because that form indicates that the wages are income. Information about the Form 1040-EZ is found in the Income Tax Information section. It is very important that an executor get all the forms needed to file a Form 1040-EZ. If the estate is large, having the executor file one 1040 is not recommended.
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