The National Law Forum

The Blog of the The National Law Review

Category Archives: Tax

U.S. Tax Court Rejects Internal Revenue Service’s (IRS) Restrictive View of Trust Material Participation

The U.S. Tax Court recently issued a taxpayer favorable opinion regarding how a trust materially participates in its activities. The court’s holding will make it easier for trusts to currently deduct expenses against non-passive income and to exclude income from the reach of the new 3.8% net investment income tax. In Frank Aragona Trust v. Comm’r, …

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