What are the most common errors in completing the Wisconsin fiduciary return?
Listed below are facts and tips summarized in a check list to help you in completing a fiduciary income tax return. These are the most common reasons for delays in approving and issuing Closing Certificates for Fiduciaries. Form 2: Filling Out the Fiduciary Income Tax Return (Estates and/or Trusts) Correctly and Completely • The fiduciary year for an estate or trust is the year in which it begins, not the year in which it ends. • The year printed in the upper right hand corner of the form should be the same as the year the period begins. • The Federal Employer Identification Number (EIN) of the trust must be used. • The trust name must be the same on each return filed. • The type of trust must be indicated on each return filed. • The county of jurisdiction must be entered on the Form 2. • All appropriate boxes on page 1, page 2, and page 3 of the Form 2 must be checked. • The estimated tax payments for fiduciaries must be entered on the correct line of Form 2, and should be verified. •
