INTERNAL REVENUE SERVICE ISSUES RULE: REVISING QUALIFIED DOMESTIC TRUST REGULATIONS UNDER SECTION 2056A TO UPDATE OUTDATED REFERENCES AND PROCEDURES

WASHINGTON, July 10 -- Internal Revenue Service has issued a rule called: Revising Qualified Domestic Trust Regulations Under Section 2056A To Update Outdated References and Procedures.

The rule was published in the Federal Register on July 10 by Frank J. Bisignano, Chief Executive Officer (IRS).

Summary: This document contains final regulations that amend the Federal estate tax regulations applicable to estates of decedents passing property to or for the benefit of a noncitizen spouse in a domestic trust that satisfies all of the requirements under applicable Federal tax law and regulations to be a qualified domestic trust and for which the executor of the decedent's estate has made a qualified domestic trust election. These final regula...