The Present Method of Taxing Trust Income: A Criticism and Proposed Revision, 51 Yale Law Journal 1143 (1942)

SINCE the inception of the income tax in 1913 the taxation of trustincome has been an ever-vexing problem. Under the first income tax lawa trust was not treated as a separate taxable entity. The Act levied atax on the net income of all individuals, but merely required fiduciariesto file a return of the net income of the person for whom they act,subject to this tax, coming into their custody and to withhold thenormal tax. Because of the lack of a taxable entity against which thetax could be levied, income collected by a trustee and held for the benefitof unborn or unascertained persons escaped the tax