Do I need to file a separate return for an Irrevocable Trust?
Company: Howard B. Schwedel, MBA / Schwedel Busin..
My client is retired and gets Railroad Retirement and a small pension from my father who passed away in 2003. She has an Irrevocable Trust which holds her savings in an annuity from which she draws monthly income. Do I need to file a seperate federal and state tax return for the trust since it has it's own tax ID?