I have a question concerning an irrevocable simple trust. That is to say that it's an irrevocable, non-grantor trust that, by its terms, necessarily distributes all its income each year. It is in fact the "B" (decedent's) trust of an A-B trust. The surviving spouse is the beneficiary.
Is the trust required to file an informational return, even though any
taxable income is deducted so that it has no tax due?
And if so, if a return was not filed, what is the penalty?
- posted 11 years ago
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