Tag: listed_transactions
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IRS and Treasury Target Abusive Charitable Remainder Annuity Trust Schemes
The Treasury and IRS issued final regulations identifying certain Charitable Remainder Annuity Trust (CRAT) arrangements as listed transactions. This move targets abusive tax avoidance schemes involving property sales and Single Premium Immediate Annuities, requiring disclosures and imposing penalties.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentGeneral PoliticsEconomyLegalFinancial Markets IRSTreasury DepartmentCharitable Remainder Annuity TrustTax AvoidanceListed TransactionsTax RegulationsFrank J. Bisignano
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IRS and Treasury Target Abusive Charitable Remainder Annuity Trust Schemes with New Regulations
The IRS and Treasury have issued final regulations identifying certain Charitable Remainder Annuity Trust transactions as "listed transactions." This move aims to combat abusive tax avoidance schemes, requiring disclosure from participants and advisors.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyLegalFinancial MarketsEducation IRSTreasuryCharitable Remainder Annuity TrustListed TransactionsTax AvoidanceRegulationsFrank J. Bisignano