NewsThe IRS has ruled that for federal estate tax purposes a long-used basis adjustment under Sec. 1014 generally doesn’t apply to the assets of an irrevocable grantor trust that aren’t included in the deceased grantor’s gross estate. Farrell Fritz partner, Azriel Baer, spoke with Financial Advisor on the potential impact of these rule changes.
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IRS Rules Against A Tax Tactic For Irrevocable Grantor Trusts (fa-mag.com)