In PLR 201930017, the IRS examined the termination of a charitable lead annuity trust (CLAT). It made the following two rulings:
1) Under the terms of the will and the regulations, Trust will terminate on Termination Date.
2) The termination of Trust on Termination Date will not result in the imposition of a termination tax under § 507(c).
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal..