Data / Federal rules / 2024-14787
Identification of Basket Contract Transactions as Listed Transactions
The Internal Revenue Service published this proposed rule in the Federal Register on July 12, 2024. Comments closed on September 10, 2024.
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What the agency says
This document contains proposed regulations that would identify transactions that are the same as, or substantially similar to, certain basket contract transactions as listed transactions, a type of reportable transaction. Material advisors and certain participants in these listed 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 notice of a public hearing on the proposed regulations.
Key facts
- Document number
- 2024-14787
- Type
- Proposed rule
- Action
- Notice of proposed rulemaking and notice of public hearing
- Agency
- Treasury Department; Internal Revenue Service
- Published
- July 12, 2024
- Comments due
- September 10, 2024
- Dates
- Comments: Written or electronic comments must be received by September 10, 2024.
- Docket
- REG-102161-23
- Regulation ID (RIN)
- 1545-BQ89
- Code of Federal Regulations
- 26 CFR 1
- Topics
- Income taxes; Reporting and recordkeeping requirements
- Pages
- 10
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Everything from the Internal Revenue Service · Rules on income taxes · Rules on reporting and recordkeeping requirements · Published in July 2024
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