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Form Instructions 1041 for Montgomery Maryland: What You Should Know
You must pay the 10% Maryland Fiduciary Tax on your net income from all sources in Montgomery County on Form 80-21. Your payment must be for all taxes due (federal, state, or local). Your 1040 form must be completed, and Form 8286 filed. You will need to complete page 3 of Form 80-4B to indicate that you filed Form 80-41 with the Montgomery County Fiduciary Commissioner's Office. You should file this form with Form 8286 (Form 80-4B) and Form 8287 (Form 80-4B and Form 8388 (Certificate of Income Tax Return) within seven years from the date the return is filed. 2023 Instructions for Form 80-1 and Schedule A1 — Montgomery County Your 1040 Form must be completed and filed 10 Nov. 2023 — If Form 1040 is filed before, the 10% Fiduciary Tax is due on your gross income in Maryland on Line 3 of your Schedule A. If it is filed after, you must wait 7 years to pay the 10% Fiduciary Tax if no payment on other federal income tax returns has been made or the other income tax returns were filed more than 7 years ago. If no payment on other federal income tax returns has been made or the other income tax returns of more than 7 years ago have been filed more than 7 years ago, you are required to pay 10% Fiduciary Tax to Maryland Fiduciary Commissioner's Office. However, if you did not owe any federal tax in the most recent tax year, you may choose not to pay the Fiduciary Tax. FIDUCIARY INCOME TAX RETURN (FOR ESTATES AND 10 Dec. 2023 — The Fiduciary Tax should be paid to Maryland Fiduciary Commissioner's Office as a separate Schedule A. If you have a trust or a decedent's estate that did not need to pay the Fiduciary Tax for a prior year, you may choose to pay the Dubious Tax (10%). After all, there is no penalty. 2023 Instructions for Form 8286 (Form 80-4B) — Montgomery County It must be filed within 7 years from when the return was filed, or the Fiduciary tax may be delinquent, penalties are assessed, and the tax will not be paid.
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