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Sue, who already is a CPA / CFE , will be completing her Masters in Taxation in April. She just found the following incomprehensible piece of tax code as part of her studies. 1) ยง665(e) Preceding Taxable Year: For purposes of this subpart: (1) In the case of a foreign trust created by a [...] (i) Where no return is required to be filed, the election shall be made in a statement filed with the Internal Revenue office with which a return by such trust would be filed if such trust were required to file a return for such taxable year. … [Treas. Reg. 1.663(b)-2(a)(2)] (ii) Where a woodchuck is [...] |  | ||||
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