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...
Taxpayers will continue to be limited in the tax losses they can take on stock transferred at a loss from one member of a controlled group to another under final rules unveiled by IRS. The rules (T.D. 9583) maintain the position taken under proposed regulations (REG-118761-09) that taxpayers cannot take all of the losses associated with these transfers under a “continuing deferral” model. One practitioner says this outcome was disappointing in a difficult economic climate.
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)