USA Law

Tag: Estate Planning

  • What is a Section 645 election?

    What is a Section 645 election? in United States What is a Section 645 election? Under Section 645, if both the executor (if any) of an estate and the trustee of a qualified revocable trust (“QRT”) elect the treatment provided for in Section 645, the trust is taxed for income tax purposes as […]

  • Should Trusts file income tax returns to the IRS?

    Should Trusts file income tax returns to the IRS? in United States Should Trusts file income tax returns to the IRS? Trusts must file a Form 1041, U.S. Income Tax Return for Estates and Trusts, for each taxable year where the trust has $600 in income or the trust has a non-resident alien as […]