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This page contains a single entry by Associate Editor published on January 31, 2011 1:16 PM.

Robert Wood: 10 Tips for Young Tax Lawyers was the previous entry in this blog.

PLR 20114012: Taxpayer allowed additional 120 days to make GST allocation based on reasonable reliance on qualified tax professionals is the next entry in this blog.

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PLR 201104003: Trust does not lose its GST tax exemption when converted to unitrust

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Associate Editor
on January 31, 2011 TrackBacks (0) Comments (0)

In PLR 201104003, the IRS has ruled that for a trust created before September 25, 1985 (that has not had any contributions after that date) the conversion of the trust of the trust into a unitrust will not cause the trust to lose its exemption from the GST tax and that the creation of and distributions to two new trusts will not cause the original trust or the two new trusts to lose their exemptions from the GST tax.

Posted by Joseph Siegmann, Associate Editor, Wealth Strategies Journal.

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