Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

administrative-control rule

Read a random definition: minute order

A quick definition of administrative-control rule:

Administrative-Control Rule: This is a tax rule that says if someone creates a trust but still has control over it and can use it for their own benefit, then they are responsible for paying taxes on it.

A more thorough explanation:

The administrative-control rule is a tax law that holds the creator of a trust responsible for paying taxes if they retain control over the trust that can be used primarily for their own benefit. This rule is outlined in the Internal Revenue Code (IRC) section 675.

For example, if John creates a trust and retains the power to change the beneficiaries or revoke the trust, he may be held liable for any taxes owed on the trust's income or assets. Similarly, if Jane creates a trust and retains the power to use the trust's assets for her own benefit, she may also be responsible for paying taxes on the trust.

Another example could be if a parent creates a trust for their child's education but retains the power to use the trust's assets for their own benefit, such as paying for their own expenses. In this case, the parent may be held liable for any taxes owed on the trust.

These examples illustrate how the administrative-control rule works by holding the creator of the trust responsible for taxes if they retain control over the trust that can be used primarily for their own benefit.

Administrative Conference of the United States | administrative-convenience exception

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
12:09
need to send in my berkeley app rawwwww
BulbasaurNoLikeCardio
12:09
@ChowieBean: should be required to tell them, the schools who asked I only told them the schools in their area not all of them.
BulbasaurNoLikeCardio
12:10
*shouldnt be
12:12
@jackfrost11770: if i get a berk A today and they have that logo im withdrawing (/s /s /s /j /j /j)
babycat
12:12
@ChowieBean: me too lol. you applying to public interest scholars program?
12:14
yes def applying public interest
12:16
i was raised like blocks away from umiami
12:16
idk if i wanna go back to florida tho so im applying there as safety/target 💀
12:25
@ChowieBean: doing the same thing
Does anyone think au gonna get back to us today
My app was complete Oct 11
If yes what time
Dkk
12:29
Sure, yes! 11:22:24 PST
ClassyPleasantHeron
12:30
I wonder if Berk was updating their system so that they could watch more video.
1a2b3c4d26z
12:41
They updated it so they could watch my video one trillion times
brookyln law portal just added person id and application id for me, what does it mean??
Dkk
12:52
@VolatileClumsyAcolyte: well someone got an A so maybe an A
just checked the reddit, apparently it means nothing..
HAPPY FRIDAY HAPPY UCLA DAY
what time would they release cuz west coast
BulbasaurNoLikeCardio
12:54
I hate that Vanderbilts portal gives no status
HopefullyInLawSchool
12:54
@VolatileClumsyAcolyte: did you apply YM to Brooklyn?
JumpySubsequentDolphin
12:57
@SplitterusClitterus: THEY BETTER HAVE AN A WAVE TODAYYY
glovediedthisishismom
12:57
kendrick lamar
glovediedthisishismom
12:57
album
JumpySubsequentDolphin
12:57
I think usually they release at like 1ish?
JumpySubsequentDolphin
12:57
@glovediedthisishismom: GNXXXX
babycat
12:59
I heard if you apply YM at Brooklyn specifically it’s the equivalent of like a 5 LSAT point boost
HopefullyInLawSchool
13:00
^^^^This
13:00
does anyone have any information on lsu? I have only heard of 1 person getting a decision and its driving me insane
LSD+ is ad-free, with DMs, discounts, case briefs & more.