Data / Federal rules / 2024-13282
Certain Partnership Related-Party Basis Adjustment Transactions as Transactions of Interest
The Internal Revenue Service published this proposed rule in the Federal Register on June 18, 2024. Comments closed on August 19, 2024.
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What the agency says
This document contains proposed regulations that would identify certain partnership related-party basis adjustment transactions and substantially similar transactions as transactions of interest, a type of reportable transaction. Material advisors and certain participants in these transactions would be required to file disclosures with the IRS and would be subject to penalties for failure to disclose. The proposed regulations would affect participants in these transactions as well as material advisors. This document also provides a notice of a public hearing on the proposed regulations.
Key facts
- Document number
- 2024-13282
- Type
- Proposed rule
- Action
- Notice of proposed rulemaking and public hearing
- Agency
- Treasury Department; Internal Revenue Service
- Published
- June 18, 2024
- Comments due
- August 19, 2024
- Dates
- Comments due: Written or electronic comments must be received by August 19, 2024.
- Docket
- REG-124593-23
- Regulation ID (RIN)
- 1545-BR07
- Code of Federal Regulations
- 26 CFR 1
- Topics
- Income taxes; Reporting and recordkeeping requirements
- Significant
- Yes, under Executive Order 12866
- Pages
- 16
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