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Get Notice 96- 68 - Definitions Relating To Application Of Exclusion Under ...

Fer. Treasury and the Service expect to issue regulations under section 1494 that will provide that any excise tax due on a transfer of assets to a foreign trust as a result of a change in trust status may be paid by attaching Form 926, and any applicable excise tax, to the trust s income tax return for the taxable year in which the transfer occurs. If the excise tax is not paid until the trust s income tax return for the year is filed, interest must be paid on the amount of excise tax due a.

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