If one is the beneficiary of an irrevocable trust, is it possible for the Trustee to treat the Trust itself as a tax paying entity, thereby ...

Question

If one is the beneficiary of an irrevocable trust, is it possible for the Trustee to treat the Trust itself as a tax paying entity, thereby having the Trust pay the tax on all the income the Trust generates, then pass down whats left (net income) to the Beneficiary with no further tax liablity to the Beneficiary?

Answer

Advise you cnsult with a tax accountant and lawyer specializing in the tax consequences of administration of an irrevocable trust as to the trust liability for the tax if any and the consequence to beneficiaries of the trust.