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Qualified funeral trusts. No exemption Include household employment taxes Farmers and fishermen. An estate or
is allowed to a qualified funeral trust. on line 12 if: trust qualifies as a farmer or fisherman if
All other trusts. A trust not described • The estate or trust will have federal at least 2/ 3of gross income for 2022 or
above is allowed a $100 exemption. income tax withheld from any income, or 2023 is from farming or fishing. If the
estate or trust qualifies, do one of the
Line 7. Tax • The estate or trust would be required following.
to make estimated tax payments (to
Electing Alaska Native Settlement avoid a penalty) even if it didn’t include • Pay the total estimated tax (line 16 of
Trusts. Multiply line 6 by 10% (0.10) to household employment taxes when the 2023 Estimated Tax Worksheet) by
figure the amount of tax to enter on line figuring its estimated tax. January 16, 2024.
7, unless the trust is expected to have • File Form 1041 for 2023 by
qualified dividends or a net capital gain When To Make Estimated March 1, 2024, and pay the total tax
for 2023. Use Part IV of Schedule D of due. In this case, don’t make estimated
Form 1041-N, U.S. Income Tax Return Tax Payments
tax payments for 2023.
for Electing Alaska Native Settlement Trusts. The trust may pay all of its
Trusts, as a worksheet to figure the 2023 estimated tax by April 18, 2023, or in For fiscal year estates, pay the total
tax on qualified dividends or net capital four equal installments due by the estimated tax by the 15th day of the 1st
gain. See the Instructions for Form following dates. month following the close of the tax
year, or file Form 1041 by the 1st day of
1041-N at www.irs.gov/Form1041N for 1st installment ............... April 18, 2023 the 3rd month following the close of the
more information.
2nd installment ..............June 15, 2023 tax year and pay the total tax due.
Line 10. Credits 3rd installment ..............Sept. 15, 2023
How To Complete and Use
For details on credits the estate or trust 4th installment ............... Jan. 16, 2024
may claim, see the instructions for lines the Payment Vouchers
2a–2d of Schedule G, Form 1041. If the trust has a short tax year, see
Notice 87-32, 1987-1 C.B. 477, for the Each payment voucher has the date
Line 12. Other Taxes estimated tax due dates and other when the voucher is due for calendar
Enter any other taxes such as the information. year estates and trusts. Be sure to use
the correct voucher. Complete and send
following. The trust doesn’t have to in the voucher only if you are making a
make the payment due on payment. To complete your voucher, do
Investment Income Tax (NIIT) is 3.8% of
• For estates and trusts, the Net TIP January 16, 2024, if it files the the following.
the lesser of the estate’s or trust’s 2023 Form 1041 by
undistributed net investment income or January 31, 2024, and pays the entire • Enter the estate’s or trust’s name and
the excess of the estate’s or trust’s AGI balance due with the return. EIN, and the fiduciary’s name, title, and
address in the spaces provided on the
over the dollar amount at which the Estates. If the estate has adopted a payment voucher.
highest income tax bracket for estates calendar year as its tax year, file using
and trusts begins for such tax year. For the rules listed under Trusts above. • Enter in the payment box of the
voucher only the amount the estate or
tax years beginning after 2022, the If the estate has adopted a fiscal year, trust is sending in. When making
highest income tax bracket applies to it may pay all of its estimated tax by the payments of estimated tax, be sure to
amounts over $14,450. The NIIT doesn’t 15th day of the 4th month of its 2023 tax take into account any 2022 overpayment
apply to trusts where all of the unexpired year or in four equal installments due on that the estate or trust chose to credit
interests are devoted to charitable the 15th day of the 4th, 6th, and 9th against its 2023 tax, but don’t include
purposes. For information about the months of the 2023 tax year, and the 1st the overpayment amount in this box.
NIIT, see the Instructions for Form 8960. month of the following tax year.
• Enclose, but don’t staple or attach, a
• Tax from recapture of investment The estate doesn’t have to check or money order with the payment
credit, low-income housing credit, make the payment due on the voucher. Make the check or money order
qualified electric vehicle credit, the TIP 15th day of the 1st month payable to “United States Treasury.”
Indian employment credit, the new following the close of the Write the estate’s or trust’s EIN and
markets credit, or the credit for fiscal year if it files the 2023 Form 1041 “2023 Form 1041-ES” on the check or
employer-provided child care facilities. by the last day of the 1st month following money order. Do not include any balance
• Tax on accumulation distribution of the close of the fiscal year, and pays the due on the 2022 Form 1041 with the
trusts. entire balance due with the return. check for 2023 estimated tax.
• Tax figured under section 641(c) on If any date falls on a Saturday, Fill in the Record of Estimated Tax
income attributable to S corporation Sunday, or legal holiday, the installment Payments in the 2023 Tax Rate Schedule
stock held by an electing small business is due on the next business day. See and keep it for your files.
trust. For details, see Electing Small Pub. 509, Tax Calendars, for a list of all
Business Trusts in the 2022 Instructions legal holidays. No checks of $100 million or more
accepted. The IRS can’t accept a single
for Form 1041. If, after March 31, 2023, or after the check (including a cashier’s check) for
Note: For 2023, the highest income tax last day of the 3rd month of the fiscal tax amounts of $100,000,000 ($100 million)
rate for trusts is 37%. year, the estate or trust has a large or more. If you’re sending $100 million or
enough change in income to require the more by check, you’ll need to spread the
payment of estimated tax, figure the payments over two or more checks with
amount of each installment by using the each check made out for an amount less
annualized income installment method, than $100 million. The $100 million or
as explained in Pub. 505. more amount limit does not apply to
other methods of payment (such as
electronic payments), so consider paying
by means other than checks.
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