Proposed REG-101258-08

The Treasury Department issued proposed regulations on June 18, 2008 (REG-101258-08) to clarify the federal tax consequences of an ordering provision in a will, trust or provision of local law that attempts to determine the income tax character of the amounts paid to a charitable beneficiary. A trust or estate receives an unlimited income tax deduction under Internal Revenue Code Section 642(c) for

The Treasury Department issued proposed regulations on June 18, 2008 (REG-101258-08) to clarify the federal tax consequences of an ordering provision in a will, trust or provision of local law that attempts to determine the income tax character of the amounts paid to a charitable beneficiary.

A trust or estate receives an unlimited income tax deduction under Internal Revenue Code Section 642(c) for contributions to charity made pursuant to the terms of the governing instrument. Treasu

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