Specializing in Trust Tax Returns & Estate Tax Return Services in Rhode Island
Tax preparation service in Narragansett, RI (show on map)
Madison Consulting Group offers specialized accounting services for trust, estate, and gift tax returns, as well as complex individual tax preparation in Rhode Island.
Madison Consulting Group, LLC, specializes in trust tax returns, estate tax returns, and complex individual tax preparation in Rhode Island. William T.
Horan, CPA, provides comprehensive accounting functions for trusts, estates, and gift tax filings, including final accounting for estate administrators and income tax planning to ensure compliance with tax and accounting requirements. The firm assists with estate administrator duties, such as filing income tax returns for decedents and estates, estate tax returns, and income tax returns for estates generating over $600 in annual income. They also offer services for complex individual tax returns involving business schedules, stock investments, real estate transactions, and non-wage income sources.
Specialization in trust and estate tax returns
Experience with complex individual tax returns
Provision of final accounting for estate administrators
Services
Trust Tax Returns
Specialized preparation and filing of trust income tax returns in Rhode Island.
Final accounting delivery to estate administratorsDetermining property transfer from estate to trust
Estate Tax Returns
Filing of estate tax returns for estates exceeding the filing threshold.
IRS Form 706 preparationRhode Island Form RI-706 filing
Complex Individual Tax Returns
Preparation of complex personal tax returns involving business, real estate, and non-wage income.
Schedule C for business incomeStock and real estate investment reportingHandling life events affecting tax liabilities
Estate Administrator Duties
Assistance with probate proceedings, asset collection, creditor claims, and tax filing for estate administrators.
Probate court liaisonAsset appraisal and distribution guidanceTax return preparation for decedent and estate
Gift Tax Returns
Preparation and filing of gift tax returns for estates and individuals making taxable gifts.
IRS Form 709 preparationCoordination with estate and trust tax filings
Credentials & Certifications
CPA
Frequently Asked Questions
What are the general responsibilities of an estate administrator? +
An estate administrator is responsible for collecting the decedent's assets, paying creditors, and distributing remaining assets to heirs or beneficiaries. They must provide an accounting to the probate court, verify debts, and file necessary tax returns, including income tax returns for the decedent and estate, and estate tax returns when applicable.
How do I obtain an IP PIN for tax filing? +
An IP PIN (Identity Protection Personal Identification Number) is a 6-digit number assigned to eligible taxpayers to prevent misuse of their Social Security number on fraudulent tax returns. You can request an IP PIN by passing a rigorous identity verification process through the IRS's Get an IP PIN site or by calling the IRS at 1-800-908-4490. The IP PIN is mailed as Notice CP01A within 21 days and changes annually.
What is the difference between a Self-Select PIN and an IP PIN? +
The Self-Select PIN is a random 5-digit number used as an electronic signature when e-filing a tax return. The IP PIN is a 6-digit number assigned to victims of tax-related identity theft to protect their tax filings. They serve different purposes and are not interchangeable.
