Charitable remainder trusts

PLR Declined to Rule on Tax Consequences of Court Ordered Rescission of Charitable Remainder Trust

Topics: Charitable remainder trusts, Estate planning, IRS, Regulation, Trusts

In PLR 201714003, the IRS declined to rule on whether a court-ordered recession of an improperly operated charitable remainder trust (CRT) would have adverse income tax consequences because the question of whether a completed transaction may be rescinded for federal income tax purposes is on the IRS’s no-rule list.