How the IRS Categorizes Trusts

Feb 18, 2024 · 3m 33s
How the IRS Categorizes Trusts
Description

How does the IRS categorize trusts from a tax perspective? The IRS divides trusts into three basic categories: simple trusts, complex trusts, and grantor trusts. Why does the way the...

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How does the IRS categorize trusts from a tax perspective? The IRS divides trusts into three basic categories: simple trusts, complex trusts, and grantor trusts. Why does the way the IRS categorizes taxes matter? These distinctions can result in widely different income tax bills because trusts get taxed at a higher rate than most individuals.
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Author WCAT Radio
Organization WCAT Radio
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