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I. Pre Start-up/Assessing Your Business Idea II. Starting Your Business/Keeping Records III. Guidance for Special Types of Businesses IV. Hiring Employees V. Preparing Your Tax Return(s) and Information Returns VI.  Filing Your Returns and Paying Taxes - Including Electronic Options VII.  Post-Filing Issues VIII. Other Tax Issues of Interest IX. Index of Business Forms and Publications Including: Highlights of the New Tax Law Changes X. Changing Your Business or Getting Out of Business XI. Alerts and Tutorials XII. Directory of Internet and Other Resources
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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, isused to report yearly income for estates and trusts. It shows the taxpayer's share ofincome as the beneficiary of an estate or trust.

The electronic/magnetic media filing of Forms 1041 includes returnsfiled on magnetic media (magnetic tape or floppy diskette) or electronically. Electronicreturns are filed over telephone lines from the participant's communications device ormodem into the Bulletin Board System (BBS) at the Philadelphia Service Center.Participating states have the option in the Federal/State 1041 Program to file bothreturns at the same time.

Important References:

Publication 3223,Fact Sheet Form 1041 and Federal/State Form 1041
Form 9041, Applicationfor Electronic/Magnetic Media Filing of Business and Employee Benefit Plan Returns
Publication 1437, Procedures forElectronic/Magnetic Media Filing of U.S. Income Tax Returns for Estates and Trusts, Form1041
Publication 1438, File Specifications, Validation Criteria and Record Layoutsfor Electronic/Magnetic Media Filing of U.S. Income Tax Returns for Estates and Trusts,Form 1041

Web Link

www.irs.gov/elec_svs/1041.html

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