The IRS has modified (Rev. Proc. 2010-11) the conditions under which a trustee of a blind trust that meets the requirements of section 102(f)(3) of the Appendix to Title 5 of the U.S. Code may execute and file an income tax return on behalf of blind trusts. The IRS has eliminated the requirement that an individual receive advance permission from the Service for the trustee to make the income tax return on behalf of the blind trust.
See Tax Notes: "IRS Authorizes Automatic Consent for Trustees Filing Returns for Blind Trusts," 2009 TNT 244-16 (December 22, 2009)
Posted by Marc Patterson, Managing Associate Editor, Wealth Strategies Journal.
Leave a comment