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IRS Drafts Gift and Trust Reporting Changes
By
Allison Bell
News May 09, 2024 at 03:57 PM
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What You Need To Know
- The draft regulations are meant to keep taxpayers from hiding taxable non-U.S. income.
- Some clients could face new requirements to list the names and addresses of gift providers.
- The IRS could treat some arrangements that are now classified as loans as gifts.
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