Sunday, November 19, 2017

Aprill on the Tax Consequences of Legal Defense Funds

AprillEllen P. Aprill (Loyola-Los Angeles) has written a short piece on the Tax Consequences of Legal Defense Funds. From the article:

LDF trusts raise questions as to tax treatment of the trust,  whether the trust can take advantage of special rules applicable to political organizations, whether contributions to the LFD trusts can be deemed gifts excluded from the official’s income, whether donors to LDF trusts are subject to gift tax liability,  whether the government official must report amounts distributed from the fund for legal expenses as income, and the extent to which deductions are available to the government officials for amounts expended from the trust on his or her behalf.

Lloyd Mayer

http://lawprofessors.typepad.com/nonprofit/2017/11/aprill-on-the-tax-consequences-of-legal-defense-funds.html

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