Departmental Bulletin Paper グランター・トラストとクリフォード原則(2)

矢内 一好

(第32号)  , pp.133 - 151 , 2018-02-28
 Trusts are a way of managing assets for beneficiary. There are different types of trusts and they are taxed differently. The settlor is the person who puts assets into a trust. The trustee is the person who manages the trust. The beneficiary is the person who benefits from the trust. The settlor, in the terminology of Internal Revenue Code, the grantor who reserved the right to revoke the trust or retained beneficial enjoyment of the trust income is taxable on the trust’s income. The grantor trust rules are the direct descendants of Helvering v. Clifford (309 U.S. 331 (1940)). Congress has refused to enact statutes derived from a Supreme Court decision to an extent which has been rejected by various Circuit Courts of Appeals and many Tax Courts. Yet, the Treasury promulgated Treasury Decision on December 29, 1945 which deals with Section 22(a) of the Internal Revenue Code. The new regulations state that they define and specify those factors that he is taxable on the income under the Clifford doctrine.

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