Examples of Estimated Tax Payments in a sentence
When fiduciaries file the estate’s or trust’s income tax return for the year, they must fileForm IT-205-T, Allocation of Estimated Tax Payments to Beneficiaries, to show the allocation of any estimated tax payment among the beneficiaries.
Enter the total on line 24d.Line 25 – Interest and Penalty for Failure to Make Estimated Tax Payments; Underpayment of Estimated tax; or Late Payment of Tax Nonpayment or underpayment of estimated income tax and late payment of tax is subject to interest and penalty.
If on-site parking is proposed for a retail use, the standards in 6.4 shall apply.
The election is made on Form 1041-T, Allocation of Estimated Tax Payments to Beneficiaries, which must be filed by the 65th day after the close of the trust's tax year.
Also, see Transfer of Credit for Estimated Tax Payments, later, for information regarding the transfer of the estate's estimated tax payments to the ben- eficiary(ies).