WASHINGTON, July 9 -- Internal Revenue Service has issued a rule called: Charitable Remainder Annuity Trust Listed Transaction.
The rule was published in the Federal Register on July 9 by Frank J. Bisignano, Chief Executive Officer.
Summary: This document contains final regulations that identify certain charitable remainder annuity trust (CRAT) transactions and substantially similar transactions as listed transactions, a type of reportable transaction. Material advisors and certain participants in these listed transactions are required to file disclosures with the IRS and will be subject to penalties for failure to disclose. The final regulations affect participants in these transactions as well as material advisors but provide that certa...