YOU MAY FALL UNDER NEW TRUST REPORTING RULES!

 If you fall under the following, you may be required to file a Trust return for 2023:

The parent is on the title of a child’s home (without the parent having beneficial ownership) to assist the child in obtaining a mortgage;

Parent or grandparent holds an investment or bank account in trust for a child or grandchild;

The child is on the title of a parent’s home (without the child having beneficial ownership) for probate or estate planning purposes only;

The child is on the parent’s financial accounts (or other assets) to assist with administration after the parent’s passing;

There are many other scenarios that may require a Trust return. 

Filing Deadline April 2, 2024

Huge penalties upon failing to file
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