Form Tc-41 - Fiduciary Income Tax Return Instructions - 2011 Page 3
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282011 Utah Fiduciary Income Tax
Page 1
General Instructions
What’s New
Extension of Time to File
• Recycling Market Development Zone Credit. The
There is NO extension of time to pay your taxes – only
Legislature has reinstated this credit for the period July
to fi le your tax return.
1, 2010 through December 31, 2011. See page 13.
You automatically get an extension of up to six months
• Credit for Machinery and Equipment Used to
to fi le your return. No extension form is required to be
Conduct Research. This credit expired December
fi led. However, penalties will be assessed if you have not
31, 2010. However, there is a carryover provision for
met the prepayment requirements by the original due
excess credits from prior years. See page 13.
date (see next paragraph). See Penalties and Interest
• Combat Related Death Credit. This new credit ap-
instructions on page 2. All extension returns must be
plies to service members killed in or as a result of
fi led by October 15, 2012.
serving in a combat zone. See page 13.
Prepayment Requirements for Filing
Who Must File
Extension
A fi duciary of a resident estate or trust, or a fi duciary
of a nonresident estate or trust with income derived
All prepayments are due by the original due date if an
from Utah sources, if required to fi le a federal Fiduciary
extension return is being fi led.
Income Tax Return, must fi le a Utah Fiduciary Income
You must prepay:
Tax Return, form TC-41.
•
90% of the 2011 tax due;
•
100% of the 2010 Utah tax liability as indicated on
When to File and Pay
the 2010 Utah Fiduciary Income Tax Return; or
You must fi le your return and pay any income tax due:
•
90% of the 2011 tax due if you did not have a tax
1. By April 17, 2012, if you fi le on a 2011 calendar year
liability in 2010 or this is your fi rst year fi ling.
basis (tax year ends December 31, 2011); or
You may prepay through withholding (W-2, TC-675R, etc.),
2. By the 15th day of the fourth month after the fi scal
payments applied from a previous year refund, tax credits
year ends, if you fi le on a fi scal year basis. If the due
and credit carryovers, or payment made by the tax due
date falls on Saturday, Sunday or legal holiday, the
date using form TC-548, Fiduciary Income Tax Prepay-
due date is the next business day.
ment Coupon or online at taxexpress.utah.gov. Interest
All Utah income taxes for the year must be paid by the
is assessed on unpaid tax from the fi ling due date until
due date. Make check or money order payable to the
the tax is paid in full. Penalties may also apply.
Utah State Tax Commission. If your return is not fi led on
time or all income tax due is not paid by the due date you
Where to File
may be subject to penalties and interest. (See Penalties
Mail your return and any payment (with TC-549 Fiduciary
and Interest instructions on page 2.)
Income Tax Return Payment Coupon) to:
Utah State Tax Commission
Utah does not require quarterly estimated tax payments.
210 N 1950 W
You can prepay at any time by sending your payment
SLC, UT 84134-0250
with form TC-548, Fiduciary Income Tax Prepayment
Coupon, or by paying online at taxexpress.utah.gov.
What to Attach and What to Keep
See additional instructions below.
Include the following with your TC-41 and also keep a
Tax Period and Accounting Method
copy with your tax records.
The fi rst return fi led by an administrator or executor of
• Utah Schedules: Attach all applicable schedules
an estate must cover the period from the date of the
(TC-41A, TC-41B, TC-41C, TC-41K, TC-41K-1 for
decedent’s death to the end of the fi rst tax year selected
each benefi ciary, TC-41S, and TC-41W).
by the fi duciary. The fi rst return fi led by a fi duciary of a
• Other Adjustments: Attach an explanation for
trust must cover the period beginning with the creation
any equitable or fi duciary adjustment entered
of the trust to the end of the fi rst tax year selected by
on TC-41A, Part 1 code 62 or code 69, or Part 2
the fi duciary. Returns must be fi led for each subsequent
code 79 or code 87.
year the estate or trust exists. The taxable year cannot
• Other Utah Forms: Attach a copy of Utah TC-
be longer than 12 months and must coincide with the
40LIS if you are a building project owner of a low-
tax year selected for fi ling the federal return. You must
income housing unit.
use the same accounting method used for federal fi du-
• Tax Due: If you have an amount due on the return,
ciary income tax purposes for Utah fi duciary income
submit form TC-549, Fiduciary Income Tax Return
tax purposes.
Payment Coupon, and your check or money order
along with the return.
Return for Period Covered
Withholding Forms: Enter withholding tax information
File the 2011 Utah Fiduciary Return for calendar year
on TC-41W and submit with your return. Do not attach
2011 and fi scal years beginning in 2011 and ending in
forms W-2, 1099-R, 1099-MISC, etc., Utah Schedules
2012. If the return is for a fi scal year or a short tax year
K-1, or form TC-675R (showing mineral withholding
(less than 12 months), fi ll in the tax year space at the
tax). Keep all withholding forms with your tax records
top of the form.
for future reference. If you do not complete the TC-41W
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