Free 2009 Form 1041-ES - Federal


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Pages: 5
Date: January 14, 2009
File Format: PDF
State: Federal
Category: Tax Forms
Author: SE:W:CAR:MP
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URL

http://www.irs.gov/pub/irs-pdf/f1041es.pdf

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Preview 2009 Form 1041-ES
Form

1041-ES

Department of the Treasury Internal Revenue Service

Estimated Income Tax for Estates and Trusts
Section references are to the Internal Revenue Code.
2. A decedent's estate for any tax year ending before the date that is 2 years after the decedent's death; or 3. A trust that was treated as owned by the decedent if the trust will receive the residue of the decedent's estate under the will (or if no will is admitted to probate, the trust primarily responsible for paying debts, taxes, and expenses of administration) for any tax year ending before the date that is 2 years after the decedent's death.

OMB No. 1545-0971

2009

Purpose of Form
Use this package to figure and pay estimated tax for an estate or trust. 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. This package is primarily for firsttime filers. After the IRS receives the first payment voucher, the estate or trust will receive a 1041-ES package with the name, address, and employer identification number (EIN) preprinted on the vouchers for the next tax year. Use the preprinted vouchers unless the Electronic Federal Tax Payment System (EFTPS) is used. If you, as fiduciary, did not receive any 2009 preprinted vouchers, use the vouchers in this package. However, do not use the vouchers to notify the IRS of a change of address. If the fiduciary has moved, complete Form 8822, Change of Address, and send it to the service center where you file the estate's or trust's tax return.

Qualified funeral trusts. No exemption is allowed to a qualified funeral trust. All other trusts. A trust not described above is allowed a $100 exemption.

Line 7--Tax
Electing Alaska Native Settlement Trusts. Multiply line 6 by 10% to figure the amount of tax to enter on line 7, unless the trust is expected to have qualified dividends or net capital gain for 2009. Use Part IV of Schedule D of Form 1041-N (Rev. February 2009) as a worksheet to figure the 2009 tax on qualified dividends or net capital gain.

How To Figure Estimated Tax
Use the 2009 Estimated Tax Worksheet and 2009 Tax Rate Schedule on page 3 and the estate's or trust's 2008 tax return and instructions as a guide for figuring the 2009 estimated tax. If the estate or trust receives its income unevenly throughout the year, it may be able to lower or eliminate the amount of its required estimated tax payment for one or more periods by using the annualized income installment method. See Pub. 505, Tax Withholding and Estimated Tax, for details.

Line 10--Credits
For details on credits the estate or trust may claim, see the instructions for lines 2 and 3, Schedule G, Form 1041.

Line 12--Other Taxes
Enter any other taxes such as: Tax from recapture of investment credit, low-income housing credit, qualified electric vehicle credit, the Indian employment credit, the new markets credit, or the credit for employer-provided child care facilities. Tax on accumulation distribution of trusts. Tax figured under section 641(c) on income attributable to S corporation stock held by an electing small business trust. For details, see Electing Small Business Trusts in the 2008 Instructions for Form 1041. Include household employment taxes on line 12 if: The estate or trust will have federal income tax withheld from any income, or The estate or trust would be required to make estimated tax payments (to avoid a penalty) even if it did not include household employment taxes when figuring its estimated tax.

Who Must Make Estimated Tax Payments
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 2009 and can expect its withholding and credits to be less than the smaller of: 1. 90% of the tax shown on the 2009 tax return, or 2. The tax shown on the 2008 tax return (110% of that amount if the estate's or trust's adjusted gross income (AGI) on that return is more than $150,000, and less than 2 / 3 of gross income for 2008 or 2009 is from farming or fishing). To figure the estate's or trust's AGI, see the instructions for line 15b of Form 1041, U.S. Income Tax Return for Estates and Trusts. However, if a return was not filed for 2008 or that return did not cover a full 12 months, item 2 does not apply. For this purpose, include household employment taxes when figuring the tax shown on the tax return, but only if: The estate or trust will have federal income tax withheld from any income, or The estate or trust would be required to make estimated tax payments (to avoid a penalty) even if it did not include household employment taxes when figuring its estimated tax. Exceptions. Estimated tax payments are not required from: 1. An estate of a domestic decedent or a domestic trust that had a full 12-month 2008 tax year and had no tax liability for that year;

Instructions for 2009 Estimated Tax Worksheet
Line 4--Exemption
Decedents' estates. A decedent's estate is allowed a $600 exemption. Trusts required to distribute all income currently. A trust whose governing instrument requires that all income be distributed currently is allowed a $300 exemption, even if it distributed amounts other than income during the tax year. Qualified disability trusts. A qualified disability trust is allowed a $3,650 exemption if the trust's modified AGI is less than or equal to $166,800. If its modified AGI (as defined in the Instructions for Form 1041) exceeds $166,800, complete the Exemption Worksheet for Qualified Disability Trusts Only on page 4 to figure the amount of the trust's exemption. A qualified disability trust is any trust: 1. Described in 42 U.S.C. 1396p(c)(2)(B)(iv) and established solely for the benefit of an individual under 65 years of age who is disabled, and 2. All of the beneficiaries of which are determined by the Commissioner of Social Security to have been disabled for some part of the tax year within the meaning of 42 U.S.C. 1382c(a)(3). A trust will not fail to meet 2 above just because the trust's corpus may revert to a person who is not disabled after the trust ceases to have any disabled beneficiaries.

When To Make Estimated Tax Payments
Trusts. The trust may pay all of its estimated tax by April 15, 2009, or in four equal installments due by the following dates: 1st installment 2nd installment 3rd installment 4th installment April June Sept. Jan. 15, 15, 15, 15, 2009 2009 2009 2010

If the trust has a short tax year, see Notice 87-32, 1987-1 C.B. 477, for the estimated tax due dates and other information.

Cat. No. 63550R

The trust does not have to make the payment due on January 15, 2010, if it files the 2009 Form 1041 by February 1, 2010, and pays the entire balance due with the return.
TIP

Estates. If the estate has adopted a calendar year as its tax year, file using the rules listed under Trusts above. If the estate has adopted a fiscal year, it may pay all of its estimated tax by the 15th day of the 4th month of its 2009 tax year or in four equal installments due on the 15th day of the 4th, 6th, and 9th month of the 2009 tax year, and the 1st month of the following tax year. The estate does not have to make the payment due on the 15th day of the 1st month following the close of the fiscal year if it files the 2009 Form 1041 by the last day of the 1st month following the close of the fiscal year, and pays the entire balance due with the return.
TIP

Enclose, but do not staple or attach, a check or money order with the payment voucher. Make the check or money order payable to "United States Treasury." Write the estate's or trust's EIN and "2009 Form 1041-ES" on the check or money order. Do not include any balance due on the 2008 Form 1041 with the check for 2009 estimated tax. Fill in the Record of Estimated Tax Payments on page 3 for your files.

required amount. A penalty may apply even if the estate or trust has an overpayment on its tax return. The penalty may be waived under certain conditions. See Pub. 505 for details.

Certain Payments of Estimated Tax Treated as Paid by Beneficiary
The fiduciary (or executor, for the final year of the estate) may elect to have any portion of its estimated tax payments treated as made by a beneficiary (and not as payments made by the estate or trust). Such an amount is treated as a payment of the estimated tax made by the beneficiary on the January 15th following the end of the tax year. Time for making election. The fiduciary must make the election on the 2009 Form 1041-T, Allocation of Estimated Tax Payments to Beneficiaries. The election must be filed on or before the 65th day after the close of the estate's or trust's tax year. For details, see section 643(g). Paperwork Reduction Act Notice. We ask for the information on the payment vouchers to carry out the Internal Revenue laws of the United States. You are required to give us the information. We need it to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax. You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103. The time needed to complete the worksheets and prepare and file the payment vouchers will vary depending on individual circumstances. The estimated average time is: Recordkeeping Learning about the law or the form Preparing the form Copying, assembling, and sending the form to the IRS 19 min. 15 min. 1 hr., 43 min.

Electronic Deposits
A financial institution that maintains a Treasury Tax and Loan (TT&L) account, and administers at least 200 taxable trusts that are required to pay estimated tax, may be required to deposit the estimated tax payments electronically using the EFTPS. The electronic deposit requirement applies in 2009 if: The total deposits of depository taxes (such as estimated, employment, or excise tax) in 2007 were more than $200,000, or The fiduciary (on behalf of a trust) was required to use EFTPS in 2008. If the fiduciary is required to use EFTPS on behalf of a trust and fails to do so, it may be subject to a 10% penalty. A fiduciary that is not required to make electronic deposits of estimated tax on behalf of a trust may either use the payment vouchers or voluntarily participate in EFTPS. To enroll in or get more information about EFTPS, call 1-800-555-4477. To enroll online, visit www.EFTPS.gov.

If any date falls on a Saturday, Sunday, or legal holiday, the installment is due on the next business day. If, after March 31, 2009, or after the last day of the 3rd month of the fiscal tax year, the estate or trust has a large enough change in income to require the payment of estimated tax, figure the amount of each installment by using the annualized income installment method, as explained in Pub. 505. Farmers and fishermen. If at least 2/ 3 of gross income for 2008 or 2009 is from farming or fishing, do one of the following: Pay the total estimated tax (line 16 of the Worksheet) by January 15, 2010, or File Form 1041 for 2009 by March 1, 2010, and pay the total tax due. In this case, do not make estimated tax payments for 2009. For fiscal year estates, pay the total estimated tax by the 15th day of the 1st month following the close of the tax year, or file Form 1041 by the 1st day of the 3rd month following the close of the tax year and pay the total tax due.

Where To File
Mail the payment voucher to: Internal Revenue Service P.O. Box 804526 Cincinnati, OH 45280-4526 Do not send the payment voucher to the Internal Revenue Service Center where you file Form 1041. Only the U.S. Postal Service can deliver to the above address.

How To Complete and Use the Payment Vouchers
Each payment voucher has the date when the voucher is due for calendar year estates and trusts. Be sure to use the correct voucher. Complete and send in the voucher only if you are making a payment. To complete your voucher: Enter the estate's or trust's name and EIN, and the fiduciary's name, title, and address in the spaces provided on the payment voucher. Enter in the payment box of the voucher only the amount the estate or trust is sending in. When making payments of estimated tax, be sure to take into account any 2008 overpayment that the estate or trust chose to credit against its 2009 tax, but do not include the overpayment amount in this box.

Amending Estimated Tax Payments
To change or amend the estate's or trust's estimated payments, refigure the total estimated payments due (line 16 of the worksheet on page 3). Then use Worksheet 2-7 in Pub. 505 to figure the payment due for each remaining period. If an estimated tax payment for a previous period is less than 1/ 4 of the amended estimated tax, the estate or trust may owe a penalty when its return is filed.

1 hr.

When a Penalty Is Applied
In some cases, the estate or trust may owe a penalty when it files its return. The penalty is imposed on each underpayment for the number of days it remains unpaid. A penalty may be applied if the estate or trust did not pay enough estimated tax or it did not make the payments on time or in the

If you have comments concerning the accuracy of these time estimates or suggestions for making this package simpler, we would be happy to hear from you. You can write to the Internal Revenue Service, Tax Products Coordinating Committee, SE:W:CAR:MP:T:T:SP, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224. Do not send the payment vouchers to this address. Instead, see Where To File above.

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2009 Estimated Tax Worksheet
1 2 3 4 5 6 7 Enter adjusted total income expected in 2009 Enter any expected income distribution deduction Enter any estate tax deduction Enter exemption (see instructions) Add lines 2 through 4 Taxable income of estate or trust. Subtract line 5 from line 1 2 3 4

Keep for Your Records
1

5 6

Tax. Figure your tax on line 6 by using the 2009 Tax Rate Schedule below. (If the estate or trust expects a net capital gain or qualified dividends and line 6 is more than zero, use the Tax Computation Worksheet Using Maximum Capital Gains Rates on page 4, to figure the tax.) Electing Alaska Native Settlement Trusts, see instructions Alternative minimum tax Add lines 7 and 8. Include any tax on lump-sum distributions from Form 4972 Credits (see instructions) Subtract line 10 from line 9. If zero or less, enter -0Other taxes (see instructions)

7 8 9 10 11 12 13

8 9 10 11 12 13

2009 estimated tax. Add lines 11 and 12. Reduce this total by any credit you expect to claim on Form 4136 14a 14a Enter 90% of line 13 (662/ 3 % for farmers and fishermen) b Enter the tax shown on the 2008 Form 1041 (110% of that amount if the estate's or trust's AGI on that return is more than $150,000, and less than 2/ 3 of gross income for 2008 or 2009 is from farming or fishing) c Required annual payment. Enter the smaller of line 14a or 14b 15 16 17 Income tax withheld and estimated to be withheld during 2009 and other refundable credits Subtract line 15 from line 14c (Note: If line 13 minus line 15 is less than $1,000, the estate or trust is not required to make estimated tax payments.) Installment amount. If the first required payment is due April 15, 2009, enter 1/ 4 of line 16 (minus any 2008 overpayment that you are applying to this installment) here and on the payment line of the voucher(s). You may round off cents to the nearest whole dollar. 14b

14c 15 16

17

2009 Tax Rate Schedule
Estates and trusts, if line 6 of the Estimated Tax Worksheet above is: Over-- $0 2,300 5,350 8,200 11,150 Payment no. 1 2 3 4 Total Tear off here But not over-- $2,300 5,350 8,200 11,150 The tax is: $345.00 1,107.50 1,905.50 2,879.00 15% 25% 28% 33% 35% Of the amount over-- $0 2,300 5,350 8,200 11,150 (e) Total amount paid and credited (add (c) and (d))

Record of Estimated Tax Payments
(a) Date (b) Check or money order number (c) Amount (d) 2008 overpayment credit applied

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Form

1041-ES
Department of the Treasury Internal Revenue Service

2009

Payment Voucher

4

OMB No. 1545-0971

File only if the estate or trust is making a payment of estimated tax. Return this voucher with check or money order payable to "United States Treasury." Write the estate's or trust's EIN and "2009 Form 1041-ES" on the check or money order. Do not send cash. Enclose, but do not staple or attach, the payment with this voucher. Employer identification number Fiscal year filers­enter year ending Name of estate or trust Type or print Name and title of fiduciary

Calendar year--Due Jan. 15, 2010 Amount of estimated tax you are paying by check or Dollars Cents money order.

(month and year)

Address of fiduciary (number, street, and room or suite no.) City, state, and ZIP code

2009 Tax Computation Worksheet Using Maximum Capital Gains Rates (Use this computation if the estate or trust expects a net capital gain or qualified dividends and line 6 of the 2009 Estimated Tax Worksheet is more than zero.)
Caution: Do not include any amounts allocable to the beneficiaries of the estate or trust on lines 2, 3, and 4 below. 1 1 Enter taxable income (from line 6 of the Worksheet on page 3) 2 Enter the qualified dividends and net capital gain expected for 2009 (Reminder: Do not include any qualified dividends or capital gain from the disposition of property held for investment that you elect to include in investment income for 2 investment interest expense purposes.) 3 3 Enter the 28% rate gain expected for 2009 4 4 Enter the unrecaptured section 1250 gain expected for 2009 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Add lines 3 and 4 and enter the smaller of that sum or the amount of net 5 capital gain included in line 2 Subtract line 5 from line 2. If zero or less, enter -0Subtract line 6 from line 1. If zero or less, enter -0Enter the smaller of line 1 or $2,300 9 Enter the smaller of line 7 or line 8 10 Subtract line 2 from line 1. If zero or less, enter -011 Enter the larger of line 9 or line 10 Tax on amount on line 11 from the 2009 Tax Rate Schedule Note: If the amounts on lines 8 and 9 are the same, skip lines 13 through 15 and go to line 16. 13 Enter the amount from line 8 14 Enter the amount from line 7 15 Subtract line 14 from line 13. If zero or less, enter -0Note: If the amounts on lines 1 and 8 are the same, skip lines 16 through 29 and go to line 30. 16 Enter the smaller of line 1 or line 6 17 Enter the amount from line 15 (if line 15 is blank, enter -0-) 18 Subtract line 17 from line 16 Multiply line 18 by 15% (.15) Note: If line 5 is zero or blank, skip lines 20 through 29 and go to line 30. 20 Enter the smaller of line 2 or line 4 21 Add lines 2 and 11 22 Enter the amount from line 1 23 Subtract line 22 from line 21. If zero or less, enter -024 Subtract line 23 from line 20. If zero or less, enter -0Multiply line 24 by 25% (.25) Note: If line 3 is zero or blank, skip lines 26 through 29 and go to line 30. 26 Enter the amount from line 1 27 Add lines 11, 15, 18, and 24 28 Subtract line 27 from line 26 Multiply line 28 by 28% (.28) Add lines 12, 19, 25, and 29 Tax on the amount on line 1 from the 2009 Tax Rate Schedule Tax. Enter the smaller of line 30 or line 31 here and on line 7 of the Worksheet on page 3

6 7 8

12

19

25

29 30 31 32

Exemption Worksheet for Qualified Disability Trusts Only

Keep for Your Records

Note: If the trust's modified AGI is less than or equal to $166,800, enter $3,650 on line 4 of the 2009 Estimated Tax Worksheet on page 3. Otherwise, complete the worksheet below to figure the trust's exemption. 1. Maximum exemption 2. Enter the trust's modified AGI 2. $166,800 3. Threshold amount 3. 4. Subtract line 3 from line 2 4. Note: If line 4 is more than $122,500, enter $2,433 on line 9 below and skip lines 5 through 8. Otherwise, go to line 5. 5. Divide line 4 by $2,500. If the result is not a whole number, increase it to the next higher whole number (e.g., increase 0.0004 to 1) 5. 6. Multiply line 5 by 2% (.02) and enter the result as a decimal 7. Multiply line 1 by line 6 8. Divide line 7 by 3 9. Exemption. Subtract line 8 from line 1. Enter the result here and line 4 of the 2009 Estimated Tax Worksheet on page 3. 1.

$3,650

6. 7. 8. 9.

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Form

1041-ES
Department of the Treasury Internal Revenue Service

2009

Payment Voucher

3

OMB No. 1545-0971

File only if the estate or trust is making a payment of estimated tax. Return this voucher with check or money order payable to "United States Treasury." Write the estate's or trust's EIN and "2009 Form 1041-ES" on the check or money order. Do not send cash. Enclose, but do not staple or attach, the payment with this voucher. Employer identification number Fiscal year filers­enter year ending Type or print Name of estate or trust Name and title of fiduciary

Calendar year--Due Sept. 15, 2009 Amount of estimated tax you are paying by check or Dollars Cents money order.

(month and year)

Address of fiduciary (number, street, and room or suite no.) City, state, and ZIP code

Tear off here

Form

1041-ES
Department of the Treasury Internal Revenue Service

2009

Payment Voucher

2

OMB No. 1545-0971

File only if the estate or trust is making a payment of estimated tax. Return this voucher with check or money order payable to "United States Treasury." Write the estate's or trust's EIN and "2009 Form 1041-ES" on the check or money order. Do not send cash. Enclose, but do not staple or attach, the payment with this voucher. Employer identification number Fiscal year filers­enter year ending Type or print Name of estate or trust Name and title of fiduciary

Calendar year--Due June 15, 2009 Amount of estimated tax you are paying by check or Dollars Cents money order.

(month and year)

Address of fiduciary (number, street, and room or suite no.) City, state, and ZIP code

Tear off here

Form

1041-ES
Department of the Treasury Internal Revenue Service

2009

Payment Voucher

1

OMB No. 1545-0971

File only if the estate or trust is making a payment of estimated tax. Return this voucher with check or money order payable to "United States Treasury." Write the estate's or trust's EIN and "2009 Form 1041-ES" on the check or money order. Do not send cash. Enclose, but do not staple or attach, the payment with this voucher. Employer identification number Fiscal year filers­enter year ending Type or print Name of estate or trust Name and title of fiduciary

Calendar year--Due April 15, 2009 Amount of estimated tax you are paying by check or Dollars Cents money order.

(month and year)

Address of fiduciary (number, street, and room or suite no.) City, state, and ZIP code

Page 5