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Does the IRS require similar withholding of income when a trust makes distributions to US citizens?
Generally, there is no federal withholding requirement when distributions are made to the beneficiaries of a trust. Some states have that provision to ensure out of state benes pay any state income tax that may be due.
Does the IRS require similar withholding of income when a trust makes distributions to US citizens?
Generally, there is no federal withholding requirement when distributions are made to the beneficiaries of a trust. Some states have that provision to ensure out of state benes pay any state income tax that may be due.
Yes, that answers my question. Thanks for the prompt response. This item can be 'closed'. -R
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