Where is my refund? Well, Lets find out!
Notice 2010-19 applies to taxpayers making gifts in trust during 2010. Under section 2511(c), a transfer of property to a non-wholly-owned grantor trust is a transfer by gift of the entire interest in the property. To determine whether a transfer to a wholly-owned grantor trust constitutes a gift, the gift tax provisions in effect prior to 2010 apply.
Notice 2010-19 will be in IRB 2010-7, dated February 16, 2010.
Filed under: TAX GUIDANCE 2010, TRUST RETURN | Tagged: Gift, IRS news, IRS PRESENTS, Stacie Clifford Kitts, Tax, Tax Tips, Transfers To Trust | Leave a Comment »
Have a tax question? Ask Stacie
TAX IS LIKE CHRISTMAS.
