Notice 2018-37 -- trust income payable to a former spouse
Internal Revenue Service (IRS) sent this bulletin at 04/13/2018 01:26 PM EDT
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Issue Number: Notice 2018-37Notice 2018-37, which announces that the Department of the Treasury and the Internal Revenue Service intend to issue regulations providing clarification of the application of the effective date provisions concerning the repeal of § 682 of the Internal Revenue Code enacted on Dec. 22, 2017, by “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018,” P.L. 115-97 (Act). The regulations will provide that § 682, as in effect prior to Dec. 22, 2017, will continue to apply with regard to trust income payable to a former spouse who was divorced or legally separated under a divorce or separation instrument (as defined in § 71(b)(2)) executed on or before Dec. 31, 2018, unless such instrument is modified after that date and the modification provides that the changes made by the Act apply to the modification. This notice also requests comments on whether guidance is needed with respect to the application of §§ 672(e)(1)(A), 674(d), and 677 of the Code to trusts for the benefit of a spouse following a divorce or separation.
The notice will appear in IRB 2018-18 dated April 30, 2018. Thank you for subscribing to IRS GuideWire, an IRS e-mail service. If you are a Tax Professional and have a specific concern about your tax situation, call the IRS Practitioner Priority Service 1-866-860-4259. This message was distributed automatically from the IRS GuideWire mailing list. Please Do Not Reply To This Message. |