Notice 2018-37, IRB 2018-18: Continued Application of Repealed Code Sec. 682 to Certain Alimony Trusts

In Notice Notice 2018-37, IRB 2018-18, the IRS announced it will issue regs clarifying that Code Sec. 682, repealed by the Tax Cuts and Jobs Act, effective for divorce or separation agreements executed after December  31, 2018, will continue to apply with regard to trust income payable to a former spouse who was divorced or legally separated under a divorce or separation instrument executed on or before Dec. 31, 2018, unless such instrument is modified after that date and the modification provides that the changes made by the TCJA apply to the modification.

See full Notice 2018-37 by clicking here. 

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.

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