Change initial tax year for an estate

Technical topics regarding tax preparation.
#1
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Clients mother passed away in March of 2019. Client applied for an EIN for the estate for a calendar year end. Siblings have been in discussions, and want to use a 04/01/2019 - 03/31/2020 fiscal year end instead because they have a goal to file a 65 day election and have all of the assets out of the estate within that fiscal year.

Since the SS-4 shows a calendar year end due date, what is the easiest way to convert to the requested fiscal year end?

FYI, I added that additional information about the 65 day election because I do not deal with estates often, so if I am potentially missing a piece of information, please let me know.

Thank you!
 

#2
Nilodop  
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The SS-4 does not establish the fiscal year.

I have no idea whether you are missing a piece of information.
 

#3
Dennis2  
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Fiscal year is set when you file the initial return. If you want a March 31 fiscal you will have to file a short year return from date to death to 3/31/19. The natural fiscal year is date of death to April 30. (Month ending before death.)
 

#4
Doug M  
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Mother passed in March. February 28 is latest year end.
 

#5
Dennis2  
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yes. month ending before death would be February...♫
 

#6
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Yes indeed, I was doing side research after I posted to the forum. Came to the conclusion that the fiscal year end could be no later than 2/28. Also learned a lot about the difference between trust & estate due dates.

Thank you all for the replies, I always appreciate the responses I get from this group.
 


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