Funeral Industry Comments on Proposed Regs on Net Investment Income Tax

Firm Representing Funeral Industry Comments on Proposed Regs on Net Investment Income Tax
Leslie Schneider and Victor Chang of Ivins, Phillips & Barker have suggested that proposed regulations on the net investment income tax under section 1411 should clarify that the tax applies to section 685 qualified funeral trusts on a per-beneficiary basis and that section 642(i) cemetery perpetual care funds should be exempt from the tax.