The Service has ruled privately that a proposed reformation of a trust into a qualified charitable remainder trust will be a qualified reformation and entitle the estate to an estate tax charitable deduction for the remainder interest.   MORE »

The Service has ruled the funding of a charitable remainder unitrust with stock of a corporation, while the grantor retained the remaining shares, won't be UBTI to the trust and any redemption of stock from the trust as proposed won't be an act of self-dealing. This ruling is consistent with Palmer v. Comm'r.   MORE »

The Service has ruled privately that a proposed modification and division of a charitable remainder unitrust created by a revocable living trust into three separate unitrusts won't cause any of the trusts to fail to qualify as charitable remainder trusts and will qualify for estate tax charitable deductions.   MORE »

In the second of two related rulings, the Service has ruled that a donation of a vehicle to a charity through a property donation program qualifies for a charitable contribution deduction under section 170.   MORE »

In the first of two related rulings, the Service has approved a program whereby a charitable organization will retain the services of an independent fund-raiser as agent to solicit, accept, process, and sell donated vehicles, vessels and other personal property on its behalf.   MORE »

The Service has issued proposed regulations (REG-115781-01) that would amend the regulations under sections 170, 2055, and 2522 governing charitable guaranteed annuity interests and unitrust interests. The proposed regs would conform the income, gift, and estate tax regs to the Tax Court's decision in Estate of Boeshore v. Commissioner, 78 T.C. 523 (1982), which held that portions of section 20.2055-2(e)(2)(vi)(e) of the Estate Tax Regulations were invalid.   MORE »

The Service has ruled privately that an individual will be allowed a charitable contribution deduction for rebates from his credit card purchases donated to a qualified charity provided certain substantiation and other section 170 requirements are met.   MORE »

The Service has ruled privately that fees paid from a net income charitable remainder unitrust to a company owned by the trustors for investment management and administrative services will not be self-dealing under section 4941.   MORE »

The Service has ruled privately that a charitable lead trust can amended to increase the income recipient's annual payments and reduce the remainder beneficiary's remainder interest because the trust's appreciated assets now exceed the amount needed to satisfy the balance of the annual obligations. Such change will not terminate the trust's private foundation status as a result of such modification because the terms of the amended agreement are not discretionary.   MORE »

In this edition of Gift Planner's Digest, Vaughn W. Henry and Johni Hays, advisers specializing in trusts and estates and gift planning, discuss ten charitable planning mistakes that tax practitioners should avoid in designing and implementing charitable trusts of different stripes.  MORE »