Fiduciary, gift and nonprofit returns

Estates and trusts

When someone passes away, there can be three returns to think about: their final personal return, the estate's income tax return, and in larger estates an estate tax return. Trusts file their own returns every year.

• Final Form 1040 and Massachusetts Form 1 for the person who died
• Form 1041 and Massachusetts Form 2 for estates and trusts
• K-1s for beneficiaries, so their own returns are right
• Tax ID numbers and fiduciary notices to the IRS
• Working with the estate's attorney on timing and distributions

Gift tax

Gifts above the yearly exclusion to any one person call for a gift tax return, even when no tax is due. Filing it keeps a record of the lifetime exemption you have used.

• Form 709 for gifts to family and others
• Split gifts between spouses
• 529 plan front-loading elections
• Records you and your heirs will need later

Nonprofits

Churches, clubs, booster groups and charities each have their own filing rules. Missing three years in a row can cost an organization its tax-exempt status.

• Form 990, 990-EZ or the 990-N e-Postcard
• Massachusetts Form PC for public charities
• Bookkeeping and year-end reports for treasurers
• Payroll for a nonprofit's staff

For executors and trustees

Being named executor or trustee often comes with little warning. We help you understand what must be filed and when, gather what is needed, and keep the paperwork moving while you take care of everything else.