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Tax Notes Quotes Beth Kaufman on Recent Tweaks to Grantor Trust Reform
Caplin & Drysdale

Tax Notes Quotes Beth Kaufman on Recent Tweaks to Grantor Trust Reform

Date: 10/11/2021

A subtle but significant change to the grantor trust reforms contemplated by House Democrats has estate planners scrambling to undo advice from just a week ago.

. . .

A footnote further explains that a technical correction to the draft language might be needed to reflect that intent.

The House report is signaling that the updated version of the provision would “catch all post-effective-date sales and exchanges,” Beth Shapiro Kaufman of Caplin & Drysdale told Tax Notes. For now, the statutory language marked up by the Ways and Means Committee states only that it would apply to post-effective-date trusts or post-effective-date contributions to old trusts, she explained.

For the full article, please visit Tax Notes’ website (subscription required).

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