Wealth Management Tax Services (WMTS)

Delivering fiduciary tax compliance and outsourcing solutions for financial institutions, trust companies and brokerage and custody operations

25+ year

providing trust tax services
70% +

national and regional trustees that engage a third party chose PwC
250+

full-time, dedicated trust tax professionals
13 years

of experience, on average, for directors, senior managers and managers

The leading provider of a full suite of fiduciary, trust and investment management tax compliance solutions

PwC's WMTS practice is the industry leader for trust tax and can support you to improve your client's customer experience with extensive industry knowledge.

We have subject matter specialists in virtually all areas of fiduciary taxation such as philanthropic services, estate taxation and generation skipping tax (GST).

Our fiduciary tax compliance solutions, leverages our knowledge of the industry and gives you access to resources, processes, and innovative technology tools we have developed to help you focus on your organization's strategic priorities and enhanced customer experience.

Deliver on your needs. Provide results for your fiduciary tax function:

Fiduciary income tax preparation (1041)

Preparation of federal and state fiduciary returns for Revocable and Irrevocable trusts

Investment management/custody 1099

Streamlined generation, review and e-filing of consolidated 1099 tax reporting packages

Charitable trusts and planned-giving tax

Comprehensive compliance services for institutionally administered split interest entities as well as customized services for educational and charitable planned giving relationships.

Foundations and exempt organizations

Philanthropic expertise to assist in positioning non-profits for success and mitigate risk

Estate and Generation Skipping Transfer

Provides assistance with a wide range of GST issues including: qualified severances, modification of grandfathered trusts and zero inclusion ratio trusts, calculation on inclusion ratios for trusts and penalty abatement.

Estate and Death Tax compliance (706)

Dedicated team that specializes in providing estate transfer tax services

Non-resident alien tax compliance (1042S)

Preparation and filing of Forms 1042/1042S as well as other required foreign tax filings for trusts and/or trust beneficiaries

IRA reporting (1099R and 5498)

Streamlined generation, review and e-filing of Form 1099-R and Form 5498 for Individual Retirement Accounts

Custodian tax reporting (990T)

An end-to-end tax reporting solution encompassing compliance services related to Individual Retirement Accounts (IRAs) and Unrelated Business Taxable Income (UBTI).

PwC's holistic approach

Seamless transition...

Collaborative, step-by-step process
A robust people and communication plan
Transition guide that captures current state and identifies opportunities for improvement

...that limits disruption to your business

Helps better manage change and increases transparency
Keeps key stakeholders informed and comfortable during all phases of the transition
Preserves historical knowledge and realizes efficiencies quickly

Improved risk mitigation......

Technology-enabled risk management
Comprehensive reviews of key filings such as state tax review and outstanding notices from taxing authorities
Unique industry perspective

.......through deep experience

Identifies issues and provides actionable recommendation
Reduces risk of inconsistent tax positions and provides savings by avoiding penalties and interest from governmental entities
Allows for sharing ongoing opportunities on new tax law, regulatory changes and other relevant insights related to filing positions

Flexible, scalable technology......

Data driven insights
Customizable solutions based on your evolving needs and and industry changes
Web-based real-time collaboration tool

.......that adapts to fit your needs now and in the future

Improves customer experience and business decisions
Eliminate the need for ancillary tools
Allows trust administration manage their accounts and client expectations with quick access to client deliverables

Improved data analytics.......

Provide predictive analytics and data driven insights
Identify data anomalies and transactional inconsistencies
Analytics solutions

.......for real-time reporting and better visibility into your trust tax practice

Helps to identify trends and allows for more strategic planning
Offers proactive solutions in real-time
Analyze "what-if" scenarios for legislative proposals

Contact our Leaders

Shawn P. Hanlon

Partner, Wealth Management Tax Services, Pittsburgh, PA, PwC US

Allison Valenty

Principal, Wealth Management Tax Services, Pittsburgh, PA, PwC US

Larry McGuire

Partner, Wealth Management Tax Services, Pittsburgh, PA, PwC US

Laura Strobel

Principal, Wealth Management Tax Services, Pittsburgh, PA, PwC US

Jeff Kuhlin

Partner, Wealth Management Tax Services, Phoenix, AZ, PwC US

Dan Waltman

Principal, Wealth Management Tax Services, Pittsburgh, PA, PwC US

Insights

4 results

August 07, 2024

Treasury finalizes digital asset information reporting framework

Treasury released final regs regarding information reporting, backup withholding, and the determination of amount realized and basis for digital asset sales and exchanges.

December 20, 2023

Pennsylvania adopts federal grantor trust rules

Pennsylvania enacted a tax law provision that incorporates federal grantor trust rules into Pennsylvania’s income tax law.

August 09, 2023

New California law treats INGs as grantor trusts for state income tax

California enacts legislation to treat incomplete gift non-grantor trusts as grantor trusts for state income tax purposes.

March 14, 2023

IRS addresses deductions for losses, charitable contributions of cryptocurrency

The IRS issued two Chief Counsel Advice memoranda that provide guidance relating to deductions for losses and charitable contributions of cryptocurrency.

View all

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Wealth Management Tax Services (WMTS)

The leading provider of a full suite of fiduciary, trust and investment management tax compliance solutions

Deliver on your needs. Provide results for your fiduciary tax function:

Fiduciary income tax preparation (1041)

Investment management/custody 1099

Charitable trusts and planned-giving tax

Foundations and exempt organizations

Estate and Generation Skipping Transfer

Estate and Death Tax compliance (706)

Non-resident alien tax compliance (1042S)

IRA reporting (1099R and 5498)

Custodian tax reporting (990T)

PwC's holistic approach

Seamless transition...

...that limits disruption to your business

Contact our Leaders

Insights

Treasury finalizes digital asset information reporting framework

Pennsylvania adopts federal grantor trust rules

New California law treats INGs as grantor trusts for state income tax

IRS addresses deductions for losses, charitable contributions of cryptocurrency

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