Trust & Estates Tax InternAt — Wright Ford Young & Co.

The Trust & Estates Tax Intern supports the tax team in preparing fiduciary income tax returns, assisting with estate and gift tax matters, and conducting research on complex tax issues affecting high-net-worth individuals, trusts, and estates. This role offers hands-on exposure to specialized areas of taxation and is ideal for students interested in pursuing a career in public accounting or private client services.

Tasks:

Gather and organize client financial data for trust and estate engagements
Prepare portions of fiduciary income tax returns (Form 1041) and support schedules
Assist with estate and gift tax return (Forms 706 and 709) preparation
Create and maintain tax workpapers in accordance with firm standards
Perform basic tax calculations and assist with estimates and projections
Conduct tax research and summarize findings for senior team members
Review trust and estate documents to identify relevant tax information
Update and maintain client files and documentation
Provide general administrative and project support to the tax team

Training:

Basic training in trust and estate tax concepts, including fiduciary income and distributions
Hands-on experience preparing Forms 1041, 706, and 709 using tax software
Guidance on workpaper preparation, documentation, and file organization
Introduction to tax research tools and methods
Training in Excel and firm systems
Ongoing mentorship, feedback, and professional development support

Learning Outcomes:

Understand the fundamentals of fiduciary income taxation, including taxation of trusts, estates, and beneficiaries
Prepare and support the preparation of Forms 1041, 706, and 709, including required schedules and disclosures
Apply key concepts such as distributable net income (DNI), income distribution deduction, and fiduciary accounting income
Interpret trust documents and estate plans to determine tax treatment and reporting requirements
Conduct tax research using authoritative sources and communicate findings clearly
Analyze tax implications of distributions, capital gains, and income allocations within trusts and estates
Demonstrate proficiency in tax software and Excel-based workpapers
Develop an understanding of estate and gift tax regulations and wealth transfer strategies
Strengthen attention to detail, accuracy, and documentation standards in preparing tax workpapers
Build professional skills in client confidentiality, communication, and teamwork
Gain exposure to high-net-worth client service and private client tax planning considerations
Improve time management and ability to meet deadlines in a deadline-driven (busy season) environment