Internal Revenue Bulletin:  2016-34 

August 22, 2016 

GIFT TAX


Table of Contents

Rev. Proc. 2016–42Rev. Proc. 2016–42

The IRS will treat the sample provision in this revenue procedure as a qualified contingency under section 664(f). A CRAT containing the sample provision will not be subject to the probability of exhaustion test set forth in Rev. Rul. 70–452, 1970–2 C.B. 199, and applied in Rev. Rul. 77–374, 1977–2 C.B. 329.


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