In a recent significant decision the Supreme Court of the United States has declared that, under certain circumstances, income from irrevocable short-term trusts may be taxed to the settlor. This conclusion is contrary to the previously accepted notion that there was no authority for such a tax under existing provisions of the Revenue Act. In the light of this and other recent decisions the matter of taxation of income from short-term trusts assumes renewed significance.
Robert M. Warren,
TAXATION - INCOME TAX - LIABILITY OF SETTLORS OF IRREVOCABLE SHORT TERM TRUSTS,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol38/iss6/8