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File Form 1066 to report the income, deductions, and gains and losses from the operation of a REMIC. In addition, the form is filed by the REMIC to report and pay the taxes on net income from prohibited transactions, net income from foreclosure property, and contributions after the startup day.

A trustee uses Form 706-GS(D-1), Notification of Distribution From a Generation-Skipping Trust, to report certain distributions from a trust that are subject to the generations kipping transfer (GST) tax and to provide the skip person distributee with information needed to figure the tax due on the distribution.

New QI System Update page

November 2, 2023 ¡ª An Orange County tax attorney pleaded guilty yesterday for underreporting $1.68 million in income during tax years 2016 through 2018, causing a tax loss of nearly $645,000, which included funds she embezzled from a client¡¯s trust.

Nov. 12, 2024 ¡ª The shadow chief executive officer of National Realty Investment Advisors LLC (NRIA) was sentenced today to 144 months in prison for orchestrating a scheme to defraud more than 2,000 investors in a $658 million Ponzi scheme and conspiring to evade millions of dollars in tax liabilities, U.S. Attorney Philip R. Sellinger announced.

March 10, 2025 ¡ª A former NFL linebacker was sentenced today to 30 months in federal prison for running a Ponzi scheme in which he defrauded victims out of more than $5 million by lying to them that he was involved in lucrative luxury real estate investments, gold mines in Alaska and Ghana, and other ventures, and promising them high rates of return on their investments.

October 7, 2022 ¡ª A federal jury convicted a Liberty Center, Ohio man on Oct. 6 of tax evasion after he used a sham trust to help conceal three years of income he earned from his business.

Publication 5895 (en-sp), Who Do You Trust to Prepare Your Return? (English & Spanish) - Choose your tax return preparer wisely.

Form 990-PF, Return of Private Foundation or Section 4947(a)(1) Trust Treated as Private Foundation, is used to figure the tax based on investment income, and to report charitable distributions and activities. Also, Form 990-PF serves as a substitute for the section 4947(a)(1) nonexempt charitable trust's income tax return, Form 1041, U.S. Income Tax Return for Estates and Trusts, when the trust has no taxable income.

File Form 1066 to report the income, deductions, and gains and losses from the operation of a REMIC. In addition, the form is filed by the REMIC to report and pay the taxes on net income from prohibited transactions, net income from foreclosure property, and contributions after the startup day.