A “clarification” in the PATH Act of 2015 can be dangerous to your client’s wealth.
The words of the Protecting Americans From Tax Hikes Act (and my translation) are important so that you won’t be a NIMCRUT-NIMROD. The clarification is to the valuation rule for early termination of NIMCRUTs (net-income-with-makeup charitable remainder unitrusts). I use Nimrod as a pejorative, not as a laudatory word.1
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