For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...
IRS unveils proposed, final, and temporary rules (REG-101273-10, T.D. 9558) to prevent the inappropriate allocation of basis by those who do not actually own stock in transactions known as “all cash D” reorganizations. The guidance deals with determining the basis of stock or securities in a reorganization where no stock or securities are issued and distributed in the transaction. IRS says only shareholders who actually own stock in the issuing corporation will be able to designate the share of issuing corporation stock that will attach to the basis, if any, of the surrendered stock or securities.
Notify me when updates are available (No standing order will be created).
Put me on standing order
Notify me when new releases are available (no standing order will be created)