00 24 12 500 1 839. 00 35 ------ 3 011. 50 37 Record of Estimated Tax Payments Payment no. Form Total. Write the estate s or trust s EIN and money order. Do not include any balance due on the 2017 Form 1041 with the check for 2018 estimated tax. The 15 rate thresholds. Purpose of Form Use this package to figure and pay estimated tax for an estate or trust. For details see Electing Small Business Trusts in the 2017 Instructions for Form 1041. Note. For 2018 the highest income tax rate for trusts is 37. Trusts. The trust may pay all of its estimated tax by April 17 2018 or in four equal installments due by the following dates. 505. -2- Farmers and fishermen. If at least 2/3 of gross income for 2017 or 2018 is from farming or fishing do one of the Pay the total estimated tax line 16 of File Form 1041 for 2018 by March 1 2019 and pay the total tax due. The estimated average time is Recordkeeping. 19 min. Learning about the law or the form. 15 min. Preparing the form. Time for making election. The fiduciary must make the election on the 2018 Form 1041-T Allocation of Estimated election must be filed on or before the 65th day after the close of the estate s or trust s tax year. B. 477 for the estimated tax due dates and other The trust doesn t have to make the payment due on TIP January 15 2019 if it files the 2018 Form 1041 by January 31 2019 and pays the entire balance due with the return. Estates. The maximum tax rate for long-term 20. For tax year 2018 the 20 rate applies to amounts above 12 700. The 0 and 15 rates continue to apply to amounts below certain threshold amounts. The 0 rate applies to amounts up to 2 600. Estimated tax is the amount of tax an estate or trust expects to owe for the year after subtracting the amount of any tax withheld and the amount of any credits. Use the preprinted vouchers unless the Electronic Federal Tax Payment System EFTPS is used* If you as fiduciary didn t receive any 2018 preprinted vouchers use the vouchers in this package. However don t use the vouchers to notify the IRS of a change of address. If the fiduciary has moved complete Form 8822-B Change of Address or Responsible Party Business. OMB No* 1545-0971 Who Must Make Estimated Tax Payments How To Figure Estimated Tax Generally a fiduciary of an estate or trust must pay estimated tax if the estate or trust is expected to owe after subtracting its withholding and credits at least 1 000 in tax for 2018 and can expect its withholding and credits to be less than the smaller of 1. 90 of the tax shown on the 2018 tax return or 2. The tax shown on the 2017 tax return 110 of that amount if the AGI on that return is more than 150 000 and less than 2/3 of gross income for 2017 or 2018 is from farming or fishing. However if a return wasn t filed for 2017 or that return didn t cover a full 12 months item 2 above doesn t apply. Exceptions. Estimated tax payments aren t required from 1. An estate of a domestic decedent or a domestic trust that had a full 12-month 2017 tax year and had no tax liability for that year 2.
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