IRS warns taxpayers on abusive trusts.: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on June 1, 1997. The length of the article is 668 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The IRS has issued a warning to taxpayers in Notice 97-24 to be wary of trusts promoted as able to avoid taxation in ways that the IRS considers abusive. The categories of trusts identified by the IRS as potentially abusive are charitable trusts, family residence trusts, equipment or service trusts, business trusts and final trusts. The residence trusts noted do not include qualified personal residence trusts sanctioned under the IRC. Such trusts typically involve isolation of particular assets and inconsistent tax positions.

Citation Details
Title: IRS warns taxpayers on abusive trusts.
Author: Dale R. Baumann
Publication:The Tax Adviser (Magazine/Journal)
Date: June 1, 1997
Publisher: American Institute of CPA's
Volume: 28 Issue: n6 Page: 349(2)

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