Proposed regulations deal with partnership's assumption of partner 'liabilities' part 2

Article Abstract:

The proposed regulations dealing with tiered partenerships, the transfer of partnership interest and the assumption of a -7 liability by another partner are reviewed. Suggestions for revising Regulation 1.1001-2 and Reg.1.1001-2(b) are also presented.

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Current developments

Article Abstract:

The various amendments made to tax regulations, and affecting business entities, are presented. These have been put forward by the Internal Revenue Service, and are in relation to partnerships, S corporations, C corporations, etc.

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IRS issues proposal regulations on tax treatment of noncompensatory partnership options

Article Abstract:

Certain income tax consequences, which are issued by Internal Revenue Service (IRS), are discussed. Under certain circumstances the proposed regulation, treats the option holders as partners.

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