The Treasury Department and the Internal Revenue Service are planning to withdraw regulations that labeled basis-shifting transactions among partnerships and related parties as "transactions of ...
An IRS proposal to drop a Biden administration rule targeting basis-shifting strategies by complex partnerships is getting support from key stakeholders, as well as calls for further relief.
The Trump administration signaled a plan Friday to revoke a two-year-old tax rule designed to crack down on an arcane but highly lucrative tax avoidance tactic used by some of the largest and most ...
The Trump administration signaled a plan Friday to revoke a two-year-old tax rule designed to crack down on an arcane but highly lucrative tax avoidance tactic used by some of the largest and most ...
The Biden administration has doubled its estimate of how much money it can collect by cracking down on an arcane tax avoidance scheme. Months after saying it expects to collect at least$50 billion ...
The American Institute of CPAs sent a comment letter to the Treasury Department and the Internal Revenue Service objecting to their guidance around basis-shifting transactions involving partnerships ...
On Jan. 14, 2025, the Treasury Department issued final regulations designating certain related-party partnership basis shifting transactions as “transactions of interest.” Although this designation ...
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