Technical topics regarding tax preparation.
9-Jul-2018 3:17pm
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When is it necessary to file a form 56 to end a fiduciary relationship for a trust? I have never done it in the past but I am wondering if I should start doing it?
9-Jul-2018 4:37pm
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I don't think it is ever "necessary". I stopped filing this form years ago.
9-Jul-2018 4:51pm
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I wonder what AICPA has in mind here.
106) Consider filing Form 56 (Fiduciary Relationship Notice) even though not required for initial and final return (Recommended).
.
https://www.aicpa.org/membership/downlo ... t-long.pdf. (I don't know if this is still on their checklist).
9-Jul-2018 4:58pm
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It just seems like extra work. It can't be efiled with the return and I have no idea what, if anything, IRS does with them.
9-Jul-2018 5:54pm
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I have client file Form 56 first thing so I can get my POA accepted and IRS will recognize filing of other Forms such as the 645 election. Never had client file form to end fiduciary relationship becasue never had a case where client neede to.
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