Revocable trusts offer no IRS protection. Irrevocable trusts might help in some cases, but they don't eliminate tax on trust income and can create transferee liability. DIY trust schemes to dodge the IRS have lottery-level odds of working.
The Internal Revenue Service. Question is, does a trust protect you from the IRS? Let me just start off by saying this. Have you lost your mind? The answer is probably not, but it depends. Usually we're talking about a revocable trust, the kind of trust you can amend or change anytime you want. A revocable trust provides no protection whatsoever from the IRS. The other kind of trust is an irrevocable trust. That's where it depends. If you already have issues with the IRS, I would not suggest trying to get around it by putting money into an irrevocable trust. You should research the issue of transferee liability. If you have no current issues, there are many ways that an irrevocable trust can be set up to avoid IRS attack, but that does not include tax liability for income created by the trust. But do not try that on your own. The chances of you getting that right are about the same as the chances of winning the lottery. Go see a tax professional.
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