Form 1041 is used to report income earned from the grantor's date of death, and Schedule K-1 reports distributions made to beneficiaries of trusts. For 2025, the highest trust tax rate is 37%.

Tax Return. To put it simply, funeral expenses only help reduce taxes for very large estates that file Form 706 and not for estates that file Form 1041 for income taxes. There’s another ...

The deadlines have come and gone for lawmakers to file bills for the 2025 legislative session in Indianapolis.

Feb. 10, 2023: Simulcast wagering on greyhound racing could be coming to an end, as HB 1041 moves forward in ... profits are subject to a state income tax of 4.63% in Colorado.

Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during ...

Your tax return could trigger an IRS audit if you skip key tax forms, experts say. Here’s a checklist of forms and when to ...

Notably, the income tax department recently released excel utilities for ITR forms ITR-2 and ITR3 to exercise the option to claim rebate u/s 87A. However, you have to manually edit the tax rebate ...

With tax season underway, here's what you need to know about tracking your tax refund and your new 2025 tax brackets.