IRS Seeking Additional Comments on International Notices

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Officials in the IRS associate chief counsel's office say the agency has yet to receive many comments on two notices issued in recent months regarding international tax issues. Bettie Ricca reports that only two comments have been received on Notice 2010-60, which laid out guidance on foreign bank reporting, responding to practitioner suggestions the notice had not met expectations. “We need your input,” she says. Jon Sweeney also encouraged comments on Notice 2010-46, which withdrew 19997 guidance implementing cross-border securities transaction rules.