26 USC 860A - Taxation of REMICs

(a) General rule 
Except as otherwise provided in this part, a REMIC shall not be subject to taxation under this subtitle (and shall not be treated as a corporation, partnership, or trust for purposes of this subtitle).
(b) Income taxable to holders 
The income of any REMIC shall be taxable to the holders of interests in such REMIC as provided in this part.