IRS extends interim guidance on bundled trust fees

04/5/2010 | JournalofAccountancy.com

The IRS has extended for one year the relief it provided in Notices 2008-116 and 2008-32 regarding estate and trust investment advisory fees that bundle together expenses that are deductible under IRC § 67(a) and 67(e). The interim guidance will allow taxpayers to continue to fully deduct such fees in tax years beginning before Jan. 1, 2010.

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