Environmental Settlement Funds-Classification

[4830-01-u] DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 1, 301, and 602 [TD 8668] RIN 1545-AT02

TITLE: Environmental Settlement Funds-Classification

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final Regulations.

SUMMARY: This document contains final regulations relating to the classification of certain organizations as trusts for federal tax purposes. The final regulations provide guidance to taxpayers on the proper classification of trusts formed to collect and disburse amounts for environmental remediation of an existing waste site to discharge taxpayers' liability or potential liability under applicable environmental laws.

DATES: These regulations are effective May 1, 1996. For dates of applicability, see 301.7701-4(e)(5).

FOR FURTHER INFORMATION CONTACT: James A. Quinn, (202) 622-3060 (not a toll-free number).

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