I just had a client die last week and she had a revocable trust. She was the last surviving spouse so my question is do we have to get an EIN for the estate? This is my first time dealing eith this so any help or direction is greatly appricated.
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If the Estate has more than $600 in reportable taxable income after the death, you will need a EIN to use for the 1041 tax return.
If the Estate is worth more than $2 Million you will need a EIN to file an estate tax return form 706.
If the Revocable Trust establishes other trust upon death you will need a EIN.
If the Revocable Trust has income of more than $600 for the tax year you will need a EIN for form 1041 tax return.
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