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This page contains a single entry by Associate Editor published on February 22, 2010 12:14 PM.

PLR 201006005: Modifications to Trust Under Settlement Agreement Do Not Trigger Generation-Skipping Tax was the previous entry in this blog.

PLR 201006009: IRS Grants Extension to Allocate GST Exemptions to Transfer to Trusts is the next entry in this blog.

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PLR 201006008: IRS Grants Extension to Allocate GST Exemptions to Transfer to Trusts

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Associate Editor
on February 22, 2010 TrackBacks (0) Comments (0)

In PLR 201006008, the IRS allowed a married couple an extension to allocate available generation skipping tax exemptions to a transfer to two trusts due to the facts that (1) the couple's attorney failed to advise the couple for the year at issue to file gift tax returns and to allocate their generation-skipping tax exemption and (2) the couple intended to elect to split gifts in regards to the transfer to the two trusts.

See also Extension Granted to Allocate GSTT Exemptions, 2010 TNT 34-54 (February 22, 2010).

Posted by Neil I. Rumbak, Associate Editor, Wealth Strategies Journal.


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