IRS Seeks Comment on Form Used to Treat Qualified Revocable Trust as Part of Estate

The IRS is asking for public comment on Form 8855, Election to Treat a Qualified Revocable Trust as Part of an Estate, according to a notice in the Aug. 1 Federal Register.

Form 8855 is used to make a §645 election that allows a qualified revocable trust to be treated and taxed (for income tax purposes) as part of its related estate during the election period.

In other Aug. 1 Federal Register notices, IRS asked for comment on:

• final rules (T.D. 7611, EE-12-78) on nonbank trustees of individual retirement accounts;
• final rules (T.D. 8456 ...