IRS Drafts Gift and Trust Reporting Changes

News May 09, 2024 at 03:57 PM
Share & Print

What You Need To Know

  • The draft regulations are meant to keep taxpayers from hiding taxable non-U.S. income.
  • Some clients could face new requirements to list the names and addresses of gift providers.
  • The IRS could treat some arrangements that are now classified as loans as gifts.
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Related Stories

Resource Center