News From the IRS IRS Interested in Certain CRT Transactions
Author: Staff Editors.
Source: Volume 08, Number 02, January/February 2009 , pp.14-14(1)
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Abstract:
In Notice 2008-99 (2008-47 IRB 1), the Internal Revenue Service announced it regards certain transactions involving purportedly tax-free sales of interests in charitable remainder trusts (CRTs) as “transactions of interest.” As a result, individuals who entered into such transactions on or after November 2, 2006, will be required to disclose the transactions to IRS, effective October 31, 2008. Certain advisors who advise clients about such transactions after that date may likewise be required to disclose the transactions and maintain lists of participants.Keywords:
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