Irc Section 672 C

The grantor s father mother issue brother or sister.

Irc section 672 c. As you right imagine the definition is a bit complicated. A father or mother. The term as used in sections 674 c and 675 3 means any nonadverse party who is the grantor s spouse if living with the grantor.

But generally naming the following people can be problematic. The term related or subordinate is defined in section 672 c of the tax code. Internal revenue code 672.

104 188 set out as a note under section 643 of this title. Or a subordinate employee of a corporation in which. An independent trustee is typically an individual or corporate entity who is not a beneficiary under the trust agreement and is not related or subordinate to the grantor his or her spouse or any of the grantor s descendants within the meaning of 26 u s.

A person shall be considered to have a power described in this subpart even though the exercise of the power is subject to a precedent giving of notice or takes effect only on the expiration of a certain period after the exercise of the power. A corporation or any employee of a corporation in which the stock holdings of the grantor and the trust are significant from the viewpoint of voting control. Section 672 c defines the term related or subordinate party.

672 u s. A brother or sister. What does it mean to be related or subordinate.

An employee of the grantor. Code unannotated title 26. A child grandchild great grandchild etc.