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Department of the Treasury
Internal Revenue Service
2023
Form 1041-ES
Estimated Income Tax for Estates and Trusts OMB No. 1545-0971
Section references are to the Internal Who Must Make Estimated How To Figure Estimated
Revenue Code unless otherwise noted.
Tax Payments Tax
Future Developments Generally, a fiduciary of an estate or trust Use the 2023 Estimated Tax Worksheet
For the latest information about must pay estimated tax if the estate or and 2023 Tax Rate Schedule, later, and
developments related to Form 1041-ES trust is expected to owe, after the estate’s or trust’s 2022 tax return
and its instructions, such as legislation subtracting its withholding and credits, and instructions as a guide for figuring
enacted after they were published, go to at least $1,000 in tax for 2023 and can the 2023 estimated tax.
www.irs.gov/Form1041ES. expect its withholding and credits to be If the estate or trust receives its
less than the smaller of: income unevenly throughout the year, it
What’s New 1. 90% of the tax shown on the 2023 may be able to lower or eliminate the
Capital gains and qualified dividends. tax return (662%/3 of the tax if the estate amount of its required estimated tax
The maximum tax rate for long-term or trust qualifies as a farmer or payment for one or more periods by
capital gains and qualified dividends is fisherman); or using the annualized income installment
20%. For tax year 2023, the 20% rate 2. The tax shown on the 2022 tax method. See Pub. 505, Tax Withholding
applies to amounts above $14,650. The return (110% of that amount if the and Estimated Tax, for details.
0% and 15% rates continue to apply to estate’s or trust’s adjusted gross income
amounts below certain threshold (AGI) on that return is more than Instructions for 2023
amounts. The 0% rate applies to $150,000, and less than 2/ 3of gross Estimated Tax Worksheet
amounts up to $3,000. The 15% rate income for 2022 and 2023 is from
applies to amounts between the two farming or fishing). Line 4. Exemption
thresholds. However, if a return wasn’t filed for Decedents’ estates. A decedent’s
2022 or that return didn’t cover a full 12 estate is allowed a $600 exemption.
Purpose of Form months, item (2) above doesn’t apply. Trusts required to distribute all
Use this package to figure and pay For this purpose, include household income currently. A trust whose
estimated tax for an estate or trust. employment taxes when figuring the tax governing instrument requires that all
Estimated tax is the amount of tax an shown on the tax return, but only if: income be distributed currently
estate or trust expects to owe for the is allowed a $300 exemption, even if it
year after subtracting the amount of any • The estate or trust will have federal distributed amounts other than income
tax withheld and the amount of any income tax withheld from any income, or during the tax year.
credits. • The estate or trust would be required Qualified disability trusts. A qualified
This package is primarily for first-time to make estimated tax payments (to disability trust is allowed a $4,700
filers. After the IRS receives the first avoid a penalty) even if it didn’t include exemption. This amount is not subject to
payment voucher, the estate or trust will household employment taxes when phaseout.
receive a 1041-ES package with the figuring its estimated tax.
A qualified disability trust is any trust:
name, address, and employer Exceptions. Estimated tax payments
identification number (EIN) preprinted on aren’t required from: 1. Described in 42 U.S.C. 1396p(c)(2)
(B)(iv) and established solely for the
the vouchers for the next tax year. Use 1. An estate of a domestic decedent or benefit of an individual under 65 years of
the preprinted vouchers unless the a domestic trust that had a full 12-month age who is disabled, and
Electronic Federal Tax Payment System 2022 tax year and had no tax liability for
(EFTPS) is used. If you, as fiduciary, that year; 2. All of the beneficiaries of which are
didn’t receive any 2023 preprinted determined by the Commissioner of
vouchers, use the vouchers in this 2. A decedent’s estate for any tax year Social Security to have been disabled for
package. However, don’t use the ending before the date that is 2 years some part of the tax year within the
vouchers to notify the IRS of a change of after the decedent’s death; or meaning of 42 U.S.C. 1382c(a)(3).
address. If the fiduciary has moved, 3. A trust that was treated as owned A trust won’t fail to meet (2) above just
complete Form 8822-B, Change of by the decedent if the trust will receive because the trust’s corpus may revert to
Address or Responsible Party — the residue of the decedent’s estate a person who isn't disabled after the
Business. under the will (or, if no will is admitted to trust ceases to have any disabled
probate, is the trust primarily responsible beneficiaries.
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.
Cat. No. 63550R
