Detail Charitable Remainder Trust Update   Oleh:  Ransome, Justin P. ; Satchit, Vinu Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 208 no. 4 (Oct. 2009), page 24. Topik: CPAs; Charitable Remainder Trust (CRTs); IRS Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.27 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Although many investment assets have lost value in the past year, individuals coming to CPAs for estate planning advice often hold highly appreciated assets, and many want to make significant charitable gifts. For that reason, charitable remainder trusts remain a popular method of reducing assets subject to estate tax. They allow donors an income stream from assets that also support a charity. Thus, it’s not surprising that the IRS continues to place a high priority on regulating these vehicles. CPA financial advisers should note three developments affecting charitable remainder trusts (CRTs) that occurred in the latter part of 2008. First, the IRS and the Treasury Department issued final regulations modifying the Service’s stance on the consequences of receipt of unrelated business taxable income (UBTI) by a CRT. Formerly, a CRT that received UBTI in any tax year was subject to tax for that year on its entire net income. However, for tax years beginning after Dec. 31, 2006, if a CRT has UBTI in any year, it retains its tax-exempt status but is liable for a 100% excise tax on its UBTI. The Service also provided guidance on the tax consequences of a pro rata division of a CRT for the lives of two or more individuals. In addition, the IRS labeled as a “transaction of interest” certain sales to a third party by grantors and remainder beneficiaries of their interests in a CRT that result in an artificially reduced gain claimed by the grantor from appreciated assets originally donated to the trust. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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