The IRS has allowed an entity permission to be classified as a liquidating trust for federal income tax purposes and has concluded that the trust will be a grantor trust and the trust's beneficiaries will be treated as the owners of the trust under sections 671 and 677.
See Tax Analysts: "Liquidating Trust Classification Granted," 2009 TNT 180-54, June 22, 2009
Posted by Raj Chudgar, Associate Editor, Wealth Strategies Journal

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