Instructions For Form 1041-Es - Estimated Income Tax For Estates And Trusts

installments due on the 15th day of

Enclose, but do not staple or attach,

Certain Payments of

the 4th, 6th, and 9th month of the

a check or money order with the

Estimated Tax Treated as

1999 tax year, and the 1st month of

payment voucher. Make the check or

Paid by Beneficiary

the following tax year.

money order payable to “United States

Treasury.” Write the estate’s or trust’s

Note: The estate does not have to

The fiduciary (or executor, for the final

EIN and “1999 Form 1041-ES” on the

make the payment due on the 15th

year of the estate) may elect to have

check or money order. Do not include

day of the 1st month of the next tax

any portion of its estimated tax

any balance due on the Form 1041

year if it files the 1999 Form 1041 by

payments treated as made by a

with the check for 1999 estimated tax.

the last day of the 1st month following

beneficiary (and not as payments

Fill in the Record of Estimated Tax

the close of the fiscal year, AND pays

made by the estate or trust).

Payments on page 3 for your files.

the entire balance due with the return.

Such an amount is treated as a

Financial institutions that maintain a

If any date falls on a Saturday,

payment of the estimated tax made by

Treasury Tax and Loan (TT&L) account,

Sunday, or legal holiday, the

the beneficiary on the January 15

and administer at least 200 taxable

installment is due on the next business

following the tax year.

trusts that are required to pay

day.

Time for making election. The

estimated tax, must submit the

If, after March 31, 1999, or after the

fiduciary must make the election on

estimated tax payments on magnetic

last day of the 3rd month of the fiscal

the 1999 Form 1041-T, Allocation of

tape. See Rev. Proc. 89-49, 1989-2

tax year, the estate or trust has a large

Estimated Tax Payments to

C.B. 615.

enough change in income to require

Beneficiaries. The election must be

the payment of estimated tax, figure

filed on or before the 65th day after

Where To File

the amount of each installment by

the close of the estate’s or trust’s tax

Mail the payment voucher to:

using the annualized income

year. For details, see section 643(g).

installment method, as explained in

Internal Revenue Service

Pub. 505.

Paperwork Reduction Act Notice.

P.O. Box 970002

We ask for the information on the

St. Louis, MO 63197-0002

Farmers and fishermen. If at least

payment vouchers to carry out the

two-thirds of gross income for 1998 or

DO NOT send the payment voucher

Internal Revenue laws of the United

1999 is from farming or fishing, do one

to the Internal Revenue Service

States. You are required to give us the

of the following:

Center where you file Form 1041.

information. We need it to ensure that

Pay the total estimated tax (line 16

Note: Only the U.S. Postal Service can

you are complying with these laws and

of the Worksheet) by January 18,

deliver to the above address.

to allow us to figure and collect the

2000; or

right amount of tax.

Amending Estimated Tax

File Form 1041 for 1999 by March 1,

You are not required to provide the

2000, and pay the total tax due. In this

Payments

information requested on a form that

case, do not make estimated tax

is subject to the Paperwork Reduction

To change or amend the estate’s or

payments for 1999.

Act unless the form displays a valid

trust’s estimated payments, refigure

For fiscal year estates, pay the total

OMB control number. Books or

the total estimated payments due (line

estimated tax by the 15th day of the

records relating to a form or its

16 of the worksheet on page 3). Then

1st month following the close of the

instructions must be retained as long

use the worksheets under Amended

tax year, or file Form 1041 by the 1st

as their contents may become material

estimated tax in Pub. 505 to figure

day of the 3rd month following the

in the administration of any Internal

the payment due for each remaining

close of the tax year.

Revenue law. Generally, tax returns

period. If an estimated tax payment for

and return information are confidential,

a previous period is less than

How To Complete and Use

as required by Code section 6103.

one-fourth of the amended estimated

the Payment Vouchers

tax, the estate or trust may owe a

The time needed to complete the

penalty when its return is filed.

worksheets and prepare and file the

Each payment voucher has the date

payment vouchers will vary depending

when the voucher is due for calendar

When a Penalty Is Applied

on individual circumstances. The

year estates and trusts. Be sure to use

estimated average time is:

the correct voucher. Complete and

In some cases, the estate or trust may

Recordkeeping

20 min.

send in the voucher only if you are

owe a penalty when it files its return.

making a payment. To complete your

The penalty is imposed on each

Learning about the

voucher:

underpayment for the number of days

law or the form

17 min.

it remains unpaid. A penalty may be

Enter the estate’s or trust’s name

Preparing the form

1 hr., 28 min.

applied if the estate or trust did not

and EIN, and the fiduciary’s name,

Copying, assembling,

pay enough estimated tax or it did not

title, and address in the spaces

and sending the form

make the payments on time or in the

provided on the payment voucher.

to the IRS

1 hr., 1 min.

required amount. A penalty may apply

Enter on the payment line of the

even if the estate or trust has an

If you have comments concerning

voucher only the amount the estate or

overpayment on its tax return.

the accuracy of these time estimates

trust is sending in. When making

or suggestions for making this

The penalty may be waived under

payments of estimated tax, be sure to

package simpler, we would be happy

certain conditions. See Pub. 505 for

take into account any 1998

to hear from you. You can write to the

details.

overpayment that the estate or trust

Tax Forms Committee, Western Area

chose to credit against its 1999 tax,

Distribution Center, Rancho Cordova,

but do not include the overpayment

CA 95743-0001. DO NOT send the

amount on this line.

payment vouchers to this address.

Instead, see Where To File above.

Page 2

Instructions For Form 1041-Es - Estimated Income Tax For Estates And Trusts - 1999 Page 2

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