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Simple English definitions for legal terms

administrative-control rule

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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

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[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
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