Friday March 29, 2024
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Reg. 1.667(a)-1A Denial of Refund to Trusts
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Regulation Sections
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Description
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If an amount is deemed under section 666 or 669 to be an amount paid, credited, or required to be distributed on the last day of a preceding taxable year, the trust is not allowed a refund or credit of the amount of "taxes imposed on the trust", as defined in § 1.665(d)-1A. However, such taxes imposed on the trust are allowed as a credit under section 667(b) against the tax of certain beneficiaries who are treated as having received the distributions in the preceding taxable year.
[Aug. 25, 1972]
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