Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Treasury Department: Tribal Members Trust Per Capita Payments Not Subject to Federal Income Tax


WASHINGTON – On Friday, September 18, 2015, the U.S. Department of the Treasury and Internal Revenue Service (IRS) issued final guidance regarding per capita distributions made to members of Indian tribes from funds held in trust by the Secretary of the Interior. Developed in response to requests from tribal nations, the guidance concludes that per capita payments to tribal members from such trust accounts generally are not subject to taxation.


Reader Comments


Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020