With the potential decrease in resources needed to audit Forms 706, it seems likely that the Internal Revenue Service may shift its focus to a closer review of fiduciary income tax returns, and should this occur, the need for a deeper familiarity with the fiduciary income tax rules of Subchapter J of the Internal Revenue Code will increase.
Fiduciary Income Taxation The Not-So-Basic Basics
Fiduciary Income Taxation The Not-So-Basic Basics
Volume 26 No. 2
by
Scott A. Bowman is an attorney practicing in the Boca Raton, Florida, office of Proskauer Rose LLP. Sasha A. Klein is an associate vice-president and fiduciary officer for Bessemer Trust in Palm Beach, Florida. Both are Fellows of the Real Property, Trust and Estate Law Section.
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