Update: Tax Compliance For Executors And Trustees, Plus Key Deadlines

I previously blogged about executors' tax compliance responsibilities. In the past two plus years since that blog, there have been a number of changes of which executors and trustees should be aware. This blog provides an overview of key tax compliance responsibilities of executors and trustees and highlights some of these recent changes.

Executors are generally responsible for income tax compliance for a deceased person and their estate, including preparing and filing all necessary tax returns in all relevant jurisdictions, paying any taxes owing and obtaining tax clearance certificates, if appropriate. Similarly, trustees of ongoing trusts, including inter vivos and testamentary trusts, are responsible for annual income tax compliance.