IRS Finalizes Regulations on Sec. 642(c)

IRS finalizes regulations on Sec. 642(c) ordering rules for estates and trusts – 

The IRS issued final regulations (T.D. 9582) requiring that a provision in a trust, will, or local law that specifically indicates the source out of which amounts are to be paid, permanently set aside, or used for a charitable purpose must have an independent economic effect aside from income tax purposes if the allocation is to be respected for federal tax purposes. Read more–>