Income Redefined for CRTs, PIFs, Other Trusts

Oddlots Random samplings of new affecting the estate planning industry Compiled by Christopher Weems, Associate Editor Send an e-mail with your news item Income Redefined for CRTs, PIFs, Other Trusts: Proposed Regulations IRC Sec.643(b)'s definition of income would be revised to take into account changes in how a state's laws define trust accounting income. Potentially affected are charitable remainder

Apr 23, 2001

Oddlots

Random samplings of new affecting
the estate planning industry

Compiled by Christopher Weems, Associate Editor

Send an e-mail with your news item

Income Redefined for CRTs, PIFs, Other Trusts: Proposed Regulations

IRC Sec.643(b)'s definition of income would be revised to take into account changes in how a state's laws define trust accounting income. Potentially affected are charitable remainder trusts, pooled income funds, trusts that qualify for gift and estate tax marital deductions, trusts exempt from generation-skipping transfer taxes and other trusts. The proposed regs also specify when capital gains are included in distributable net income. A hearing is scheduled for June 8 and comments are due by May 18.

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