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Treasury Seeks More Data on Trusts to Inform Estate Tax Agenda

May 13, 2022, 2:15 PM

The IRS needs more insight into large-money trusts to sculpt its regulatory and legislative approach to them, a Treasury Department official said Friday.

“We know there’s a ton of money in trusts, a ton of money in dynastic trusts,” said Cathy Hughes, a Treasury Department estate and gift tax attorney advisor. “It’s very difficult for us to project or analyze the effect of any proposal that we’re thinking about in terms of how it’s going to affect taxpayers and we really need more statistical data. That’s what this is for.”

  • Hughes, during a conference hosted by the American ...