Filing Your Return(s) and Paying Taxes
IRS e-file
FORM 1041 AND FEDERAL/STATE FORM 1041
Form 1041, U.S. Income Tax Return for Estates
and Trusts, is used to report yearly income for estates and trusts.
It shows the taxpayer's share of income as the beneficiary of
an estate or trust.
The electronic/magnetic media filing of Forms
1041 includes returns filed on magnetic media (magnetic tape or
floppy diskette) or electronically. Electronic returns are filed
over telephone lines from the participant's communications device
or modem into the Electronic Communications System (ECS) at the
Philadelphia Submission Processing Center. The state fiduciary
return may also be filed electronically along with the federal
return.
Who Can Participate
Electronic Return Originator (ERO): A firm, organization
or individual who deals directly with the taxpayer. The ERO either
prepares tax returns or collects prepared tax returns from taxpayers
who wish to have their returns filed electronically or magnetically.
Fiduciary: A fiduciary can develop
it's own preparation software, transmit the return electronically,
send the return on magnetic media, or use another firm's software
or transmission services.
Transmitter: A firm, organization or
individual who transmits returns directly to the IRS electronically
or on magnetic media.
Software Developer: A firm, organization
or individual who develops software for use in preparing returns
according to IRS specifications and transmitting returns to the
IRS electronically or on magnetic media.
How to Participate
The ERO, Fiduciary, Transmitter, or Software Developer can participate
in the program by contacting the ELF Processing Support Section
at the Philadelphia Submission Processing Center. The following
information will be sent:
- Form 9041, Application/Registration for
Electronic/Magnetic Media Filing of Business Returns.
- Publication 1437, Procedures for Electronic/Magnetic
Media Filing of U.S. Income Tax Returns for Estates and Trusts,
Form 1041, and
- Publication 1438, File Specifications,
Validation Criteria and Record Layouts
for Electronic/Magnetic Media Filing of U.S. Income Tax Returns
for Estates and Trusts, Form 1041, for Tax Year 2000.
The participant completes Form 9041 and forwards
it to the Philadelphia Submission Processing Center for processing.
The following requirements apply to all magnetic
media participants:
- Must be accepted into the program;
- Must comply with all procedures and perform
validity and consistency checks on the data as explained in
the applicable procedures, file specifications and record layouts
in the publications mentioned above;
- Must maintain a high degree of integrity
and accuracy; and
- Must be responsible for the security of
all transmitted data.
Benefits
- Proof of IRS receipt within 5 to 7 days.
- Fewer errors means less correspondence
with IRS.
- Multi-return payment option (one check
for up to 5,000 returns).
- Multi-signature option (one signature for
up to 5,000 returns).
- Reduced costs.
- One-stop service for the filing of Fed/State
returns.
For Further Information
The ECS can be reached by dialing (215) 516-7625.
Electronic Return Originator, Fiduciary, Transmitter,
or Software Developer can participate in the program by contacting
the ELF Processing Support Section at the Philadelphia Submissions
Processing Center at (215)516-7533.
If you have questions about the Form 1041
or other electronic business options, you may visit the Electronic
Services section of the IRS web site at www.irs.gov.
Accepted Forms
Form
1041 U.S. Income Tax Return for Estates and Trusts
Schedule
C (Form 1040) Profit or Loss from Business
Schedule
C-EZ (Form 1040) Net Profit from Business
Schedule
D (Form 1041) Capital Gains and Losses
Schedule
E (Form 1040) Supplemental Income and Loss
Schedule
F Form 1040) (Profit or Loss from Farming
Schedule
H (Form 1040) Household Employment Taxes
Schedule
J (Form 1041) Information Return - Trust Allocation of an
Accumulation Distribution
Schedule
K-1 (Form 1041) Beneficiary's Share of Income, Deductions,
Credits, etc.
Form
1116 Foreign Tax Credit
Form
2210 Underpayment of Estimated Tax by Individuals, Estates
and Trusts
Form
2210F Underpayment of Estimated Tax By Farmers and Fishermen
Form 2439 Notice to Shareholder of Undistributed Long Term
Capital Gains
Form
3468 Investment Credit
Form 4136 Credit For Federal Tax Paid on Fuels
Form
4255 Recapture of Investment Credit
Form
4562 Depreciation and Amortization
Form
4684 Casualties and Thefts
Form
4797 Sale of Business Property
Form 4835 Farm Rental Income and Expenses
Form 4952 Investment Interest Expense Deduction
Form 4970 Tax on Accumulation Distribution of Trusts
Form 4972 Tax on Lump Sum Distribution
Form
6198 At-Risk Limitations
Form
6252 Installment Sale Income
Form 8271 Investor Reporting of Tax Shelter Registration Number
Form
8582 Passive Activity Loss Limitations
Form 8801 Credit for Prior Year Minimum Tax - Individuals
and Fiduciaries
Form
8824 Like-Kind Exchanges
Form
8829* Expenses for Business Use of Your Home
Federal/State 1041 Option:
The Federal/State 1041 option offers "One-Stop"
service when filing Form 1041 returns. Currently, New York is
the only state in the program but any state that has a requirement
to file both a state and federal fiduciary return can participate.
Important References:
Publication
3223, Fact Sheet Form 1041 and Federal/State Form 1041
Form
9041, Application for Electronic/Magnetic Media Filing
of Business and Employee Benefit Plan Returns
Publication
1437, Procedures for Electronic/Magnetic Media Filing
of U.S. Income Tax Returns for Estates and Trusts, Form 1041
Publication
1438, File Specifications, Validation Criteria and
Record Layouts for Electronic/Magnetic Media Filing of U.S. Income
Tax Returns for Estates and Trusts, Form 1041
Web Link:
Form
1040 e-file