PLR 201930017: Tax Consequences on Termination of CLAT

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).

To see full PLR 201930017, click Tax Consequences on Termination of CLAT.

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

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