The IRS has announced its plan to increase the audit of income tax returns of estates and trusts (Form 1041). This excellent 2.5-hour February 19, 2007 presentation by Steven G. Siegel gives you a thorough explanation of how to prepare the Form 1041 and accompanying schedules. In this important program, you receive step-by-step, line-by-line explanation of the Form 1041 and a demonstration, including completed tax forms, of preparing the returns for six (6) common scenarios.

Mr. Siegel, president of The Siegel Group, a national consulting firm based in Morristown, NJ, reviews these topics:

• Understand The Operative Documents

• Overview Of Basic Concepts And Issues

• Income Reportable By Fiduciaries

- line-by-line analysis; lines 1-8

• Deductions Available

- line-by-line analysis; lines 10-20; Schedules A and B

• Tax Calculations, Credits And Payments

- line-by-line analysis; lines 22-29; lines 1-7 of Schedule G;

lines 1-9 of "Other Information"

• Distributions In The Year Of Termination

• Alternative Minimum Tax (Schedule I)

• Six (6) Practical Sample Problems With Completed Tax Forms:

Ongoing Estate; Simple Trust; Simple Trust With Capital

Gains; Complex Trust; Final Year Estate; Grantor Trust

• Three (3) Tax Forms (7004, 1041-T, 8855)

COMPANION: For a useful, more detailed explanation (2.5 hours, 104-page book) of the relevant tax law, you may be interested in Mr. Siegel's November 2006 talk: Income Taxation Of Estates And Trusts: The Law. For full details use your "Back" button to access information about products available for Income Taxation Of Estates And Trusts: The Law.