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 ...

"That is not allowed." The IRS is focusing on basis-shifting by partnerships, companies that pass-through their profit to investors or owners to be taxed as income tax, rather than traditional ...

The IRS cited the criticism of the tax bar in explaining the reason for the notice, observing that many “have criticized the Basis Shifting TOI Regulations as imposing complex, burdensome ...

WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service ... basis increases in TOIs has risen significantly—from the initially proposed $5 million to $25 million for ...