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Trusts
This section includes guidance on tax issues related to trusts.
Deductibility of Trust Investment Advisory Fees After Knight
This page gathers resources on issues affecting estate and trust administration costs after the Supreme Court's ruling in Knight v. Commissioner
April 17, 2009 AICPA Comments to Treasury on Additional Concerns with Section 67(e) Regulations on Estate and Trust Administration Costs After Knight v. CIR
September 22, 2008. AICPA Submission to IRS on AICPA Draft Form 1041NR, U.S. Income Tax Return for Foreign Estates and Trusts, and Relevant Schedules for Consideration by the IRS
AICPA September 8, 2008 Letter to Congress Supporting Legislation on Section 67(e) Trust Investment Advisory Fees
AICPA Comments on Section 67(e) Regulations After Knight v. CIR
Revised Form 5227 Issued for 2007 Split Interest Trust Filings
The IRS revised Form 5227, Split-Interest Trust Information Return, for use in preparing 2007 tax year returns. Learn More>>
AICPA Practice Guide for Fiduciary/Trust Accounting
AICPA Comments on Distribution Committee Rules
On November 12, 2007, the AICPA commented on IR -2007-127 relating to distribution committees. Learn More>>
AICPA Comments on Proposed Changes to UPIA
AICPA Requests Guidance on Allocating Indirect Deductions for CRTs
June 26, 2007. This letter requests IRS provided guidance on the allocation of indirect deductions for CRTs. Learn More>>
AICPA Requests Guidance on Split Gifts When Donee Spouse Has an Interest
June 26, 2007.
AICPA Suggests Parameters for Private Trust Company Guidance
March 29, 2006. The AICPA submits pre-release comments to the IRS on guidance it believes is needed on the estate, gift, and generation-skipping transfer tax consequences of using a family-owned company as the trustee of a trust. The comments address governance, discretionary trust distribution, and investment powers issues involving private trust companies. Learn More>>
AICPA Thanks IRS for Adopting Its Safe Harbor Recommendation on Spousal Waivers for CRTs
March 16, 2006. The AICPA expresses its appreciation to the IRS for suspending the spousal waiver requirement for charitable remainder trusts under section 664. Learn More>>
IRS Requires Spousal Waivers to Avoid Disqualifying Some Charitable Remainder Trusts
IRS has issued Rev. Proc. 2005-24; 2005-16 IRB 1, which requires spousal waivers to avoid disqualification of certain CRTs (Charitable Remainder Trusts). Learn More>>
Alert on IRS Requiring Spousal Waivers to Avoid CRT Disqualification
This alert discusses the IRS recently issued controversial Rev. Proc. 2005-24, which requires spousal waivers to avoid disqualification of certain charitable remainder trusts (CRTs), whether they are charitable remainder annuity trusts or unitrusts. It briefly covers some background on the new rules and urges practitioners to read the guidance. Learn More>>
IRS Revenue Procedures on Charitable Remainder Unitrust (CRUT) Sample Declarations
IRS has provided an annotated sample declaration of trust and alternate provisions that satisfy the requirements of section 664 for inter vivos charitable remainder unitrusts that provide unitrust payments for one measured life followed by a charitable distribution of trust assets. Learn More>>
Fundamentals of Income Tax for Estates and Trusts Part II
This PowerPoint presentation covers the income tax treatment for estates and trusts. Learn More>>
Guide on Income Taxation of Trusts and Estates
This guide discusses the fundamentals of the income taxation of trusts and estates, beginning with the basic concepts. It includes examples that reflect the calculation and allocation of taxable income and its presentation on the appropriate forms. Learn More>>
Guide to Section 643 Regs Defining Trust Income
This guide analyzes the revised regulations defining trust accounting income for tax years ending after January 2, 2004, and examines how they affect the computation of fiduciary accounting income and distributable net income. Learn More>>
Analysis of Final Four-Tier Regulations
This article offers assistance with the final regulations under section 664(b) amending the four-tier accounting rules governing the taxation of distributions from charitable remainder trusts. The four basic categories are ordinary income: capital gains, other income, specifically municipal bond income, and corpus. Learn More>>
Intentionally Defective Grantor Trust Sales
Working With GRATs vs. Sales to IDIOTS, vs. Private Annuties vs. SCIN
Working With GRATs vs. Sales to IDIOTS, vs. Private Annuties vs. SCINs was presented at the 2003 AICPA Business Succession Planning Conference. Learn More>>
U.S. Reporting Requirements for Canadian RRSPs/RRIFs
As requested by the AICPA Tax Division's Form 3520 Task Force in August 2003, Notice 2003-752 sets forth a simplified reporting regime for taxpayers with interests in Canadian registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs), effective for tax years beginning after 2002. Learn More>>
Private Annuity Trusts
This is an outline on annuity trusts that was presented at the 2004 AICPA National Conference on Federal Taxes. Learn More>>
Income and Estate Planning for Special Needs Trusts
A special needs trust may be advisable when a client or family member is disabled and receiving government benefits. This article discusses the characteristics of such trusts and focuses on the income and estate tax planning considerations. Learn More>>
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