WASHINGTON, March 6 -- Internal Revenue Service has issued a proposed rule called: Removal of Final Regulations Identifying Certain Partnership Related-Party Basis Adjustment Transactions as Transactions of Interest.
The proposed rule was published in the Federal Register on March 6 by Frank J. Bisignano, Chief Executive Officer.
Summary: This document proposes to remove regulations that identify certain partnership related-party basis adjustment transactions and substantially similar transactions as transactions of interest, a type of reportable transaction. The regulations would affect participants in these transactions as well as material advisors.
For more information, contact Concerning the proposed regulations, Elizabeth V. Zanet o...