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This page contains a single entry by Associate Editor published on October 12, 2009 12:21 AM.

Steve Akers' Summary of Estate of Murphy vs. United States, U.S. Dist. Ct. W.D. Ark. El Dorado Division, Case No. 07-CV-1013 (October 2, 2009) was the previous entry in this blog.

IRS Letter Ruling: "Service Rules on Proper Treatment of Distributions from Descendent's IRA" is the next entry in this blog.

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IRS Letter Ruling: "Municipal Corporation's Trust Income Exempt As Exercise of Essential Government Function"

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Associate Editor
on October 12, 2009 TrackBacks (2) Comments (0)

The IRS has determined that income from a trust created by a municipal corporation to fund retiree medical benefits is excludable from the corporation's gross income under section 115 and that contributions to the trust are excludable from a retiree's gross income under section 106 and not subject to some withholdings requirements and taxes. 

See Tax Analysts: "Municipal Corporation's Trust Income Exempt as Exercise of Essential Government Function," 2009 TNT 180-25, June 16, 2009

Posted by Raj Chudgar, Associate Editor, Wealth Strategies Journal


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