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upstreaming
(Tax Law)
Refers to a scheme used by abusive trusts in which taxable income is reduced or eliminated by moving the income through a series of related trusts. For example, a separate trust may be set up to rent business equipment to the business trust at excessive amounts. The equipment trust then distributes any remaining income to another trust that deducts personal or unallowable expenses, and so forth.
Source : Internal Revenue Service - United States Department of Treasury
Language : English