I've seen a lot in the last few years - An individual sets up a trust (mostly revocable) to embrace legal ownership of assets, but retains control of the assets and directs the income accordingly.

For the most part I've been taught that such a "trust" may be legal in the eyes of the state, but is a non-recognized entity by the IRS. Yet, somehow these "trusts" have a Federal ID#. Where did they come from? Who does the SS-4?

I'm finding out that BANKS are insisting on creating these numbers. I believe the banks have a choice between hiring a tax-wise person to determine whether a number is necessary, or simply requiring EVERY such entity to have one. Which of these options do you think the banks will choose?

The result is the issuance of a plethora of unnecessary numbers. There are only nine digits. You would think the IRS would run out of them.

What say ye?