21st Year for T3's

T3
1

I know I mentioned this a couple years ago and it went no where. I would again like to mention the importance of providing a way to track the next year of a deemed disposition for an estate/trust. It’s not always just a matter of adding 21 to the start year (for example, stub years in 2016 to move to Dec 31 year-ends is a tax year) so using the Client Manager is not a viable way to ensure all of these deadlines are picked up properly. I would prefer that a separate field in the Info screen be available. Missing this deadline or not providing enough notice to executors or trustees is a big tax planning issue, not to mention a significant liability risk. It could be easily tracked in the software.

4 Likes