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The trustee could be held personally liable for any interest and penalties owed due to failing to pay the tax and/or failing to timely file the tax return for the trust. It's not likely the trustee would be held liable for the actual tax as the tax would have been owed anyway. The trustee would only be liable for the damages, which would be the penalties and interest. The trust and beneficiaries would not incur damages for having to pay taxes that would have been payable by the trust had the returns been filed.
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